# Third-Party Payouts

Third-party payouts enables [Squads](https://squads.so/) users to make USDC payouts to bank accounts of both businesses and individuals, with funds arriving in either USD or EUR.

1. [How It Works](#how-to-create-a-third-party-payment)
2. [Options And Fees](#options-and-fees)
3. [User Eligibility](#user-eligibility)

## How It Works

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**KYB Verification and Contact bank details**

* Log in to your Squad and navigate to the “Contacts” section in the left-hand menu.
* Choose an existing contact or create a new one
* The "Bank Account Details" section of the "Contacts" page will prompt you to verify with Bridge if needed.
* Once verified (takes up to 24 hours), add the contact's bank details

**Making a payout**

* Go to your Squad dashboard and click “Send”. In the “External” section, choose “To bank account”. Select your payment account and the payout recipient from your contacts— then click “Next”. Alternatively, you can click the “Send” button directly from the contact overview to initiate a faster third-party payout workflow.
* Next, enter the USDC amount you'd like to pay out and choose a transaction method—click “Next” to proceed.
* Review the payout details and initiate the transaction. The USDC payout will be converted to USD or EUR based on the recipient’s bank details.

## Options And Fees

Multiple transaction methods are available for third-party payouts.

**Wire Transfer**

* Fee: $20 + 0.5%
* Settlement: Within 1 business day (fastest option)

**ACH Same Day**

* Fee: $1 + 0.5% 
* Settlement: Within 1 business day 

**Standard ACH** 

* Fee: $0.50 + 0.5% 
* Settlement: 2-3 business days 

**SEPA Transfer** 

* Fee: $1.00 + 0.5% 
* Settlement: 1-5 business days

## User Eligibility

**Availability**\
Third-party payouts are available to businesses in Canada, Europe, Asia, and other regions outside OFAC sanctions. While U.S. businesses are not yet eligible, non-U.S. businesses can use the feature to pay their U.S. counterparts.

**Restrictions**\
Third party payouts are not available for US based customers or the 39 countries in the list below.

* Afghanistan
* Albania
* Algeria
* Bangladesh
* Belarus
* Central African Republic
* China
* Cuba
* Democratic Republic of the Congo
* Eritrea
* Ethiopia
* Gaza Strip
* Iran
* Iraq
* Kenya
* Kosovo
* Lebanon
* Libya
* Mali
* Morocco
* Myanmar
* Nepal
* Nicaragua
* Niger
* North Korea
* North Macedonia
* Pakistan
* Qatar
* Russian Federation
* Slovenia
* Somalia
* South Sudan
* Sudan
* Syria
* Ukraine
* Venezuela
* West Bank
* Yemen
* Zimbabwe