Understanding currency wallets and receiving account details

Modified on Fri, 30 Oct at 11:31 PM

Your Switch Hub currency wallet holds the balance you use for supported payments and currency exchange. Receiving or funding details tell you how money can be added to a particular currency feature. They are not interchangeable across CAD, NGN, USD, GBP and EUR.

A wallet is different from opening a traditional bank account

Creating a Switch Hub account does not by itself open a traditional bank account in every country or approve every receiving feature. Use the account details and supported methods displayed for your account in the app.

CAD

To add CAD, choose an available method such as Interac e-Transfer or Visa Debit. For Interac, verify the funding email associated with your transfer and use the current receiving instructions shown in the app. Do not assume that having a CAD wallet means you have a separate Canadian bank account in your name.

NGN

Use your NGN receiving-account details when that feature has been made available to you. Complete the required setup and verification steps, including BVN verification where requested in the app.

USD, GBP and EUR

Eligible receiving features may provide currency-specific account details. Open the relevant currency in the app to check availability, the account name, the supported payment method and any instructions. Approval of one currency feature does not automatically approve the others.

Before sharing or using receiving details

Confirm the currency, beneficiary name, bank details, payment method and reference shown in the app. Do not use CAD Interac instructions for GBP or EUR transfers, or assume that an account supports every type of incoming payment. If you are unsure, contact in-app support before money is sent.

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