Support for USD payout currencies
complete
Mikaela Reyes
complete
USD withdrawals now in beta! To be rolled out soon :)
Mikaela Reyes
in progress
Hey all, we are in the process of evaluating this and planning for this. Please let us know if the USD withdrawals (via domestic ACH) is something you would like to be a part of the early beta for.
Message Mika via our Slack community or just respond as a message on this canny post and we'll reach out.
Isabel Guidote-Pangalangan
Mikaela Reyes I'd like to be part of the beta for this!
Marian Coleen Cajanding
Mikaela Reyes I'd like to be a part of the beta for this!
Mikaela Reyes
Sounds good! Will note you both. To be clear, this is for domestic ACH (to other USD accounts that are NOT international USD accounts). We won't yet support SWIFT but we'd like to get there soon :)
S
Shanelle Chua
Mikaela Reyes Would love to join in!
Yesi Danderfer
Mikaela Reyes This is exactly what we're needing! Would love to be part of the beta testing for this.
Mikaela Reyes
Yesi Danderfer:
Great! Join our slack community (bottom left side of your Parallax app) and join #beta-usd-withdrawals
Mikaela Reyes
Shanelle Chua: Great! Join our slack community (bottom left side of your Parallax app) and join #beta-usd-withdrawals
Mikaela Reyes
Marian Coleen Cajanding: Great! Join our slack community (bottom left side of your Parallax app) and join #beta-usd-withdrawals
Mikaela Reyes
Isabel Guidote-Pangalangan: Great! Join our slack community (bottom left side of your Parallax app) and join #beta-usd-withdrawals
Mikaela Reyes
Isabel Guidote-Pangalangan: Added you to beta flag - you should be able to add a USD account and withdraw to domestic USD via ACH. Please share feedback on the slack #beta-usd-withdrawals
Mikaela Reyes
Marian Coleen Cajanding: Added you to beta flag - you should be able to add a USD account and withdraw to domestic USD via ACH. Please share feedback on the slack #beta-usd-withdrawals
Mikaela Reyes
Shanelle Chua: I couldn't find your email in our database, but please join our slack and join #beta-usd-withdrawals and we can add you!
Mikaela Reyes
Hi! This is launched, are you still interested in using this? :)
Mikaela Reyes
Hi! This is launched, are you still interested in using this? :)
Mikaela Reyes
Hi! This is launched, are you still interested in using this? :)
Mikaela Reyes
Yesi Danderfer: Hi! This is launched, are you still interested in using this? :)
Yesi Danderfer
Mikaela Reyes Yeah, totally!
jjo
big +1 to the request, in my case outbound US ACH/Wire would be great to have
Mikaela Reyes
jjo Got it. Other questions:
- what USD account are you sending to - an account based in the US or based outside of the US?
- if ACH, would you be willing to pay a $1 fee for every outbound withdrawal?
- if Wire/SWIFT, would you be willing to pay a $20-$30 fee for every outbound withdrawal?
jjo
Mikaela Reyes answering below:
1) Domestic US only (at least for me)
2) 1 USD sounds reasonable for ACH
3) 20-30 USD also is inline with Wire costs from other providers, here tho intl support (ie Swift) would be great also
Mikaela Reyes
jjo Excellent, this is very much noted!
We're evaluating enabling ach/wires payouts.
Separately, looking for partners for swift support both in and out.
Mikaela Reyes
jjo: Actually one last question here: if you are going to send to another USD domestic account anyway, what's the reason you still send it to Parallax if you can just send it straight to that USD account?
jjo
Mikaela Reyes essentially having a "
single
ACH endpoint" (i.e. Parallax's) to pass to the company/people paying you, then decide which part of it one would want to convert to crypto, or transfer it via ACH to another account for savings purposes, which could be a bank/fintech (e.g. conveniently providing a debit-card).Mikaela Reyes
Excellent answer and makes a ton of sense. Thanks so so much!
Mikaela Reyes
jjo: Added you to beta flag - you should be able to add a USD account and withdraw to domestic USD via ACH. Please share feedback on the slack #beta-usd-withdrawals
Mikaela Reyes
Merged in a post:
USD Currency Withdrawal
Marian Coleen Cajanding
I would like to have the option to widthraw in USD currency. I do have a local BDO bank account that is in USD. Sometimes I'd like to receive my payment in USD currency as a way to just strategically convert at a later date if I wanted to. It is an option available in other platforms
Mikaela Reyes
Hey Marian Coleen Cajanding is there a reason .you wouldn't just leave it on Parallax and "strategically convert at a later date if I wanted to" from parallax vs sending it to another platform? Trying to understand what the reason is for this. Thanks!
Marian Coleen Cajanding
Mikaela Reyes , well this is not the only reason. I have a USD bank account where I keep my money in USD currency for many reason:
1) Withdraw actual dollars from my bank so there is no need for me to buy when traveling abroad
2) use USD in online purchases (which parallax does not offer) to have the upper hand in purchasing
3) keeping my USD in the bank has interest
Besides, there is no advantage in keeping my money in parallax, if that is what you're suggesting. It would be literally just be sitting there. As for right now I use other platforms if I need to receive my money as USD currency.
Mikaela Reyes
Marian Coleen Cajanding: Got it - would you still do this if you paid $25 to do a SWIFT transfer out to your USD account as I assume this is a USD account not based in the US?
Mikaela Reyes
Hi! This is launched, are you still interested in using this? :)
G
Gly
Mikaela Reyes - Hi! I have similar concern, and I'm interested in using this feature, if possible. Thanks! :)
Mikaela Reyes
Gly Hi there! That’s great because this already exists!! :) You can choose USD to withdraw
Gustavo
It would be great if you allow wire or ACH outbound USD transfers.
Mikaela Reyes
Gustavo: Hey Gustavo, could you share why you would need wire or ACH USD transfers? Who would you be sending it to and what's the reason?
Gustavo
Mikaela Reyes I think it will be a good way to have USD available to have money in the US for example to pay out for a trip/hotel, load a pre-pay card, or transfer money to third parties to pay for services, transfer money to a broker, etc. In general to have fiat money to use in those places where we can't use crypto.
M
Muhammad Noval
Mikaela Reyes any chance we can hopefully the ACH feature coming on Parallax?
Mikaela Reyes
Muhammad Noval: Hey we are evaluating this but it'd be ACH/wire into U.S. USD accounts. Sending to USD accounts internationally is via SWIFT which we don't yet support fully.
Is this still something you would be interested in?
Mikaela Reyes
Gustavo: And just confirming - you have a US-based USD account, correct?
Gustavo
Mikaela Reyes, yes the idea is to send to US-based accounts
Mikaela Reyes
Gustavo: Hey interested in joining the beta for this?
Join our slack community (bottom left side of your Parallax app) and join #beta-usd-withdrawals
Mikaela Reyes
Muhammad Noval: We are in beta for this - are you still interested?
Mikaela Reyes
Gustavo: We are in beta for this - are you still interested? Please join the Slack qslack https://join.slack.com/t/parallax-friends/shared_invite/zt-2bfhjf1vp-5_qCnV8sYQoZdciq2EQS9w and #beta-usd-withdrawals
Gustavo
Mikaela Reyes Hey Mika, I don't have any funds at the moment to do the test
Mikaela Reyes
Gustavo: Gotcha, if you join and open to test, can send you a few test funds. Do you expect if it works, that you'll be withdrawing to USD some time this month?
Mikaela Reyes
Gustavo: Hi! This is launched, are you still interested in using this? :)
g
gracespolicarpio
I'd like to have USD as primary currency of my linked bank account.
Mikaela Reyes
gracespolicarpio: Hey interested in joining the beta for this?
Join our slack community (bottom left side of your Parallax app) and join #beta-usd-withdrawals
Mikaela Reyes
gracespolicarpio: We are in beta for this - are you still interested? Please join the Slack qslack https://join.slack.com/t/parallax-friends/shared_invite/zt-2bfhjf1vp-5_qCnV8sYQoZdciq2EQS9w and #beta-usd-withdrawals
Mikaela Reyes
Hi! This is launched, are you still interested in using this? :)
Lou Zarcal
Lou Zarcal
MSR
USD >>> EURO as a payout (transfer) will be a great start.
Load More
→