What Should a Business Confirm Before Receiving Payments from Overseas Customers?

Before receiving payments from overseas customers, a business should confirm the legal account holder, the currencies and payment rails supported, and which provider is responsible for each service. It should also verify compliance requirements and whether any stablecoin or crypto payment services are offered by an affiliate under separate terms.

A business account is provided and independently approved by the relevant financial institution, not by DogPay. DogPay is a digital finance and payment infrastructure platform, not the financial institution that provides a business account. The institution’s opening documents determine the account type, holder, and terms. Before receiving funds, confirm the exact legal account holder name and that your business can meet the institution’s requirements. No account approval is guaranteed.

Businesses may apply online for a US-dollar business account and Hong Kong or Singapore multi-currency business account options. After approval, available features may include international collections, cross-border payments, currency management, transaction records, reconciliation, and reporting. Actual currencies, payment rails, and functions depend on the institution, account, product, and jurisdiction. For USD transfers, ACH, SWIFT, or Fedwire may be used only where the relevant account and service arrangement support them. Confirm with the institution which rails your customers can use and what information they must include.

USD and supported stablecoin conversion or settlement and crypto payment gateway services are provided by DogPay affiliates to eligible customers, subject to provider terms, applicable law, and geographical availability. These are not provided by the financial institution that holds the business account. If you plan to accept stablecoin or crypto payments, confirm eligibility, supported assets, and settlement process directly with the affiliate provider. Do not assume these services are available in your jurisdiction.

Before receiving overseas payments, confirm the compliance checks your business and your customers must pass. These may include identity verification, source of funds, and sanctions screening. The financial institution or service provider sets these requirements. Also confirm how transaction records, reconciliation, and reporting will be delivered, and whether they meet your accounting and audit needs. No fee, exchange rate, speed, coverage, or business outcome is guaranteed.

Who approves a business account?

The relevant financial institution provides and independently approves each account. DogPay is a platform, not the institution.

Can I receive USD from overseas customers?

USD transfers may use ACH, SWIFT, or Fedwire only where the relevant account and service arrangement support them. Confirm with the institution.

Are stablecoin services included?

USD and supported stablecoin conversion or settlement and crypto payment gateway services are provided by DogPay affiliates to eligible customers, subject to provider terms, applicable law, and geographical availability.

What should I confirm about currencies?

Actual currencies, payment rails, and functions depend on the institution, account, product, and jurisdiction. Confirm directly with the institution.

This article is based on approved facts from the official DogPay global bank product page at https://dogpay.com/hk/global-bank. For account-specific details, confirm with the relevant financial institution or service provider.

This article provides general information for businesses considering overseas payments. It does not guarantee account approval, payment acceptance, fees, exchange rates, speed, coverage, or any business outcome. Features and availability vary by institution, account, product, and jurisdiction. Always confirm current terms with the relevant financial institution or service provider.