# Virtual US Bank Account

Powered by[ Bridge](https://www.bridge.xyz/), users can now set up virtual US bank accounts to receive payments in USD, which is seamlessly converted to USDC in their Squad account. 

1. [How It Works](#how-it-works)
2. [Transfer Limits](#transfer-limits)
3. [User Eligibility](#user-eligibility)

### How It Works

With a virtual US bank account, receiving USD payments as USDC in your Squads account is simple:

* Automatic USD-to-USDC conversion 
* No need for multiple platforms or transfers 
* Avoid costly on-ramp fees

Senders use familiar USD bank transfers, while you receive USDC in your Squad account—all for a minimal 0.1% conversion fee.

### Transfer Limits

**US residents**

* From your business bank account: no limit
* From individuals: not supported
* From businesses: no limits
* From payroll platforms such as Deel, Gusto, and Upwork: no limits

**Non-US residents**

* From your business bank account: no limits
* From individuals: $4,000 per transaction
* From businesses: no limits
* From payroll platforms such as Deel, Gusto, and Upwork: no limits

### User Eligibility

**Availability**

Virtual US bank accounts are available for users in most of the US, Canada, Europe, Australia, UAE, Japan, India and many other countries around the world.

**Restrictions**

For US businesses, virtual US bank accounts are not available to those with principal residential or operating addresses in New York and Alaska. Also, virtual US bank accounts are not available to businesses with principal residential or operating addresses in the countries listed 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