Deposit accounts: set up and open

What a deposit account is

A deposit account is how US dollars become stablecoins in StablRamp. It is a set of permanent US dollar bank details in your organisation's name. Our partner issues the details and takes the money in. You send money to them from your organisation's own bank account by ACH, FedNow or wire, and every transfer that arrives is converted by the partner into the stablecoin you chose and delivered to your organisation's own wallet.

StablRamp records each transfer as an order of its own, so you can follow it on Orders. There is no quote to lock and no order reference to copy: the same details keep working for every transfer until you close the account.

USD can be opened once the partner has cleared it for your business. Until then the USD card shows Not available yet, Approval pending or Approval withdrawn.

Before you start

• A verification level high enough for deposit accounts, L3 by default. Below it, the page says Verification level L3 is needed first and links to Open verification. See Verification levels and Get Full Access.
• A wallet beneficiary on a network deposits can be delivered to: Ethereum, Base, Polygon, Arbitrum, Solana or Tron.
• Room for another account. By default an organisation holds at most two accounts that are opening, active or suspended; a closed account does not count. The required level and this cap are settings and can differ.

Complete the partner onboarding

The partner runs its own terms and business checks on top of ours. They start from the Deposit accounts tab of Settings, Payment methods.

1. 1Choose Start the checks.
2. 2Under Finish the checks, open Accept the terms and Complete the business check. Each link opens the partner in a new tab; in the sandbox it may open a simulator that stands in for the partner. Terms and Business check show where each one stands.
3. 3Come back to the page. While Your business is being reviewed is shown, nothing more is needed from you. The page updates on its own when the partner decides.
4. 4When the partner approves, the page says You can open accounts in USD., and Open account appears.

If the partner approves the business but has not cleared USD yet, the page says Approved, waiting for currencies. The page updates on its own once USD is cleared.

Open a USD account to a Base USDC wallet

1. 1On the Deposit accounts page, or the Deposit accounts tab of Payment methods in Settings, choose Open account. The same button appears in Add Funds once the organisation is verified.
2. 2Under Currency, choose USD.
3. 3Under Where deposits go, pick your wallet on Base. Asset to deliver offers USDC, the only stablecoin offered on Base.
4. 4Under Name it, enter a Name if you like. Only you see it, and it helps when you hold more than one account.
5. 5Choose Open the account.

The partner issues the details. Until then the account shows as Opening and its page says the details appear as soon as they arrive. Then read Receive money into a deposit account.

Account statuses