Your Bancoli Free account supports ACH push transfers, both for receiving and sending USD on the domestic US payment system. This means your clients can send you US domestic ACH transfers by entering your account details inside their banking platform and you can send others US dollars on the ACH network by paying them straight from Bancoli.
The Free account does not support wire transfers or outbound ACH debit (ACH pull).
The following payment rails however can be supported with different Bancoli products:
1. Inbound ACH Debit.
By issuing an invoice from the Bancoli platform your clients can pay by using their bank account details. This is useful if they only have wire transfers activated on their banking platform as it allows transfers without the usual wire transfer fees.
2. Named Wire Transfers
By upgrading to the Plus plan or above you unlock US domestic wire transfers (Fedwire) and international (SWIFT) wires with account details that show your business name.
3. Bancoli network payments
Alternatively, you can invite your business partners to Bancoli and make simplified payments between accounts.
4. Bancoli-named domestic USD Wire Transfers
The same ACH account details that show for you in your Bancoli account can be used for USD Fedwires with the following recipient details:
Bancoli
Routing Number: 043087080
Account Number: your unique ACH account number
Address: 252 Ponce De Leon Ave, San Juan, PR 00918, United States
USDi (USD International) is the platform stablecoin of Bancoli and OliBank International Inc. When funds arrive to your named account details, the exact dollar amount gets converted 1:1 to USDi and delivered straight to your self custodial wallet. USDi is backed 1:1 and is a Genius Act compliant stablecoin, issued in collaboration with Brale Inc.