A First For US Users: Introducing Wire Transfers 🇺🇸
Transak becomes the first global on-ramp to enable Wire transfers
Wire transfersStarting today, all the 350+ partners using Transak can provide US users with greater flexibility and convenience of seamless fiat-to-crypto on-ramp using Wire.
Key Highlights ⚡️
📲 New Payment Method: Wire transfers for transactions over $2,000.
💸 Lower Fees: Only 1%, making it more affordable than other options.
🔼 Higher Daily Limit: Users can buy up to $25,000 worth of crypto daily.
🔐 Enhanced Security: Available for users with level 2 KYC verification.
⚙️Development Guide
To enable wire transfers for your widget, simply add the query parameter pm_us_wire_bank_transfer.
For the full details, check out our payment methods guide
Wire Transfer vs. Other Payment Methods in the US 🇺🇸
| Payment Method | Fee | Processing Time | Daily Limit | KYC Level Required | Average Order Value | Key Features |
|---|---|---|---|---|---|---|
| Wire Transfer | 1% | Up to 3 business days | Up to $25,000 | Level 2 | High (16x other methods) | Ideal for high-value transactions, cost-effective, and secure. |
| Credit Card | 4.5% | Instant | Up to $2,500 | Level 1 | Moderate | Quick and convenient, suitable for lower-value transactions. |
| Apple Pay | 3.5% | Instant | Up to $2,000 | Level 1 | Moderate | Convenient for iOS users, seamless integration with Apple devices. |
| Google Pay | 3.5% | Instant | Up to $2,000 | Level 1 | Moderate | Easy to use for Android users, supports multiple currencies. |
| Bank Transfer | 1.5% | 1-3 business days | Up to $5,000 | Level 2 | High | Secure, suitable for large transactions but slower than other methods. |
Summary
Wire transfers offer a significant advantage for users looking to make large cryptocurrency purchases. With lower fees, higher daily limits, and robust security measures, Transak's new payment method is designed to streamline and enhance the user experience.