A recipient's virtual bank account receives money that is already theirs — earnings a platform owes them, or their own funds moved across from another account in their name. It is not an account for collecting payments from other people. This is a permanent rule, not a current limitation.
What the account is for
Two kinds of payment belong in it:
- Payouts from a platform the recipient sells on. The platform is paying out money it already owes them. This is what the account exists for.
- The recipient's own money, moved across from another bank account in their own name. See sending your own money.
Either way the fiat arriving is swapped to USDC at the flat 2% and sent to the recipient's wallet.
What the account is not for
It is not a way to collect payments from other people. A payment from a fan, a friend, a partner, or a client is a third-party payment, and a virtual bank account is not a collection account.
The case that surprises people most:
A freelancer cannot invoice clients into this account. Being owed money for work does not make a client's payment the recipient's money in the sense that matters here — the client is a separate party paying for a service, not a platform paying out earnings it already holds.
Two others that come up often:
- Fans and subscribers. A bank transfer into a recipient's account is not a route for subscriber payments, and card payments are not accepted into an account either.
- One set of details shared with several payers. Asking several people to put the recipient's name on their transfer does not make those payments the recipient's own money.
Warning: Account details are issued for one recipient. Publishing them, or passing them to people paying on their own behalf, puts third-party payments into the account.
Onboard the payee named on the payment
Where money is due to someone other than a recipient you already have, add them as their own recipient instead of routing the payment through an existing account:
- Check who the payer names as the payee, on a receipt or an invoice.
- Add that person or that company as a recipient.
- Give the payer the account details issued in that name.
A workspace can have as many recipients as it needs, each with their own verification and their own account. Whose name to use covers how to read the payee off a platform receipt.
Next: Paying in from an account of your own, without a platform payout. Send your own money →