Receiving Payments to Your USD Virtual Foreign Account – Cadana

Objective: This article is intended to offer further insights into the procedures for accepting payments into your USD-dominated virtual foreign account. It aims to address common inquiries concerning virtual accounts on Cadana.

Outline
1. What payment type can my employer use to deposit funds in my account?

2. What are the charges associated with deposits into my account?

3. How long does it take for deposits to reflect in Cadana account?
4. Can I receive other currencies apart from USD in my USD virtual account?

5. Are there any restrictions to the account?

6. Can I keep my funds in my virtual account?
7. How do I access my account details in app?

What payment type can my employer use to deposit funds in my account?

Your account is specifically designed to accept payments from the United States solely through ACH only.
International SWIFT or Wire transfers cannot be received into your virtual USD account.

What are the charges associated with deposits into my account?

There is a 1% fee for receiving payments into your USD virtual account, with a maximum cap of USD 30.

How long does it take for deposits to reflect in Cadana account?

Payments into your virtual USD account may take up to 3 business days to process, depending on the payment scheme utilized by the sending bank.

Can I receive other currencies apart from USD in my USD virtual account?

Your USD virtual account exclusively accepts USD payments. Sending any other currencies (e.g., CAD, AUD, GBP) is not supported.

Are there any restrictions to the account?

We do not offer support for receiving payments for cryptocurrency, peer-to-peer transactions, betting, or forex trading purposes.
Funds should be received from your foreign employer as accounted to Cadana. If there are any changes in your foreign employer, please reach out to our support team for an account update.
If your deposit is subject to compliance checks, our support team will contact you for further information. We kindly request feedback within 2 business days.

Can I keep my funds in my virtual account?

You are welcome to keep your funds in your account for as long as you wish.

How do I access my account details in app?

In your Cadana account, switch your currency balance to USD
Select the add funds option.
Select virtual account to view your virtual account.
You may also share the account details with the share button