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What are virtual accounts?

A virtual account is a set of bank details (for example an IBAN for EUR deposits, or a US bank account number + routing number for USD deposits) that is issued in your name (or your user’s name / identifier) and which acts like a “payment address” rather than a typical bank account holding funds.

What virtual accounts can I open on Moneda?

In Moneda, you can open two virtual accounts: Virtual EUR Account (via IBAN) and a Virtual USD Account (via US account number) so you can deposit funds SEPA or ACH, respectively. The deposit, upon arrival, triggers conversion/settlement into your system (e.g., into EUR or USD stablecoin balances). You can also receive from and send to third-party bank accounts, for example, paying friends or vendors, after adding their details.

How do virtual accounts work?

When the deposit is made to, the virtual account detects the incoming funds via the fiat payment rails (eg. SEPA or ACH). Our partner, Iron, converts the fiat into stablecoins, which are then settled into your Moneda Spending Account (EUR or USD balance).
Similarly, when you withdraw funds to a bank account, the funds are transferred to a wallet address which is monitored by Iron. Once the the incoming funds are settled on the blockchain, our partner proceeds to transfer the corresponding fiat currency to the bank account.

Are virtual accounts issued under my name?

Yes, the virtual account details you receive are issued under your name. This means you can receive payments from your bank, your employer or third-parties into that dedicated account. Behind the scenes, the funds will be routed into your Moneda account in the form of stablecoins.

Can I open a virtual account even if I’m not based on the EU or US?

You can open a virtual account as long as your country is not sanctioned and you successfully complete KYC (Know Your Customer). Once verified, eligible customers can access virtual EUR and virtual USD accounts. Availability and initial limits may vary by country and risk tier.

What documents do I require to open a virtual account?

To open a virtual account, users must:

verify their identity with a government-issued photo ID (passport worldwide; EU national ID; driver’s license in the EU, UK, or US),
complete a quick liveness/selfie check, and
provide a recent proof of address (e.g., utility bill or bank statement issued within the last 3 months).

You will also be asked to answer a short questionnaire regarding details on employment, income, intended use, expected volume, and source of funds. For higher tiers, you will also be asked to submit source-of-funds documents.

These checks happen before we issue your virtual account details. Once approved you’ll see your virtual account information appear in your account details.

I can’t see the information from my virtual account

You’ll only see your virtual account details once you’ve completed your identity verification. If they’re missing, head to Settings > Identity Verification and check the status of your application. Once approved, your account details will appear automatically.

How do I transfer funds to Moneda from my bank account?

To add money from your bank into Moneda, you need to send a normal transfer using the account details we provide in the app. Note that you will need to complete your identity verification first.

Steps:

In the Moneda app, go to the Home screen.
Select Top up from the account you want to fund (EUR or USD).
Select the Bank Transfer option and select the currency you want to use.
You’ll see the account details that you can copy to complete the transfer from your banking app.

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How do I withdraw funds to my bank account from Moneda?

To move money out of Moneda and back into your bank account, you just need to make a withdrawal in the app. Make sure you’ve already registered your bank account in Transfer > My accounts section.

Steps:

Open the Moneda app and tap Transfer in the bottom navigation bar.
Go to the My accounts tab.
Select the saved bank account you’d like to withdraw to.
Enter the amount and confirm the transfer.

How do I add my bank account to withdraw funds to?

You can add a payout bank account in the app and then withdraw to it any time.

Steps:

Open the Moneda app → Transfer (bottom navigation).
Go to the My accounts tab.
Tap Add bank account (top-right).
Select the country of the account.
Enter the account holder name, account number and any relevant information.

Important considerations:

The account holder name must match the full legal name of the account beneficiary.
Some banks may reject payouts to other users or to business accounts. To transfer to other people or businesses, you can add the bank information to their contact.
If KYC isn’t complete, you may be prompted to finish verification before saving your bank account.

What are the processing and settlement times for bank transfers to and from Moneda?

Settlement times may not be instant. This is due to the applicable jurisdiction, payment rail used, cross-border nature of a transaction, settlement protocols, processing windows, and banking infrastructure involved, and may take up to seven days. You can review the settlement times for the different payment rails available:

SEPA & SEPA Instant (EUR): usually instant, up to 3 business days.
ACH (USD): a few hours up to 4–5 business days.
CLP, PEN, MXN, COP, ARS: usually instant, up to 30 minutes.
INR, IDR, TRY, PHP, NGN, BRL: usually instant.

What are the minimum and maximum transfer amounts to or from bank accounts?

Withdrawal limits vary by currency and verification tier. Higher tiers or approved source-of-funds (SoF) documents allow for higher or even unlimited top ups or withdrawals. We recommend completing your Source of Funds verification before planning large transfers as it prevents unnecessary delays or rejections.

Current limits:

EUR (SEPA): min. €1 — max. €27,000 → up to unlimited with SoF
USD (ACH): min. $1 — max. $31,000 → up to unlimited with SoF
LATAM rails (CLP, PEN, MXN, COP, BOB, BRL, ARS): min. $25 — max. $8,000

Notes:

Limits apply per individual withdrawal unless otherwise stated.
Enhanced KYC and SoF verification may be required for higher limits or frequent large transfers.
If your withdrawal exceeds the maximum for your rail, it will not be processed. Split it into smaller transfers.
Some partner banks or rails may have daily or cumulative limits.

Can I transfer funds to third-party bank accounts?

You can send funds to someone else’s bank account directly from Moneda.

How to do it

In the Moneda app, tap Transfer in the bottom navigation bar.
Go to the Contacts tab.
Tap Add contact and enter their details: full name, country, currency, and bank account information (IBAN/account number, plus SWIFT or routing code if required).
Once saved, select that contact to send funds to their linked bank account.

Can I receive funds to from third-party bank accounts?

You can receive funds to someone else’s bank account directly on Moneda. You just need to share the details of your virtual EUR or USD account that are accessible from Home > … > Bank Details.

Can I cancel or change a bank transfer after I’ve confirmed it?

No. Once a bank transfer has been sent, it can’t be changed, cancelled or reversed by Moneda. Transfers are processed directly by your bank or our partner.

Pay-Ins

If you’ve already confirmed the payment in your banking app, only your bank may be able to recall or cancel it (depending on their policy and timing). Moneda cannot reverse inbound transfers that have already been processed.
If you’ve entered the wrong amount or recipient, contact your bank immediately.

Pay-Outs

Once a withdrawal or transfer to a third-party is confirmed in the Moneda app, it’s automatically sent for processing. Moneda cannot modify or stop a withdrawal once it’s been submitted.
In case you made a mistake, reach out to the beneficiary so that they can transfer your funds back.