We have some great news for all verified WiPay accounts!
Based on recent FOREX changes implemented by our local banking partner, ALL verified WiPay accounts now have access to both a TTD balance and a USD balance. With this change, you can receive and retain USD for any payment made to you with a card issued by a bank outside of Trinidad & Tobago. Such payments will now be credited to your WiPay account’s USD balance. Payments made to you with cards issued by local banks (i.e. banks in Trinidad & Tobago), will continue to be credited to your WiPay account’s TTD balance.
See the following Frequently Asked Questions:
1. But my WiPay account was already USD approved!
If your WiPay account was previously approved for USD transactions, then this change does not impact you. You can continue benefiting from access to USD funds for any payments made to you with cards issued by banks outside of Trinidad & Tobago. In this regard, you should have received an email from us in early September 2021 notifying you of changes in the processing and settlement of USD transactions.
2. Great! So, can I withdraw the USD funds into my USD bank account?
Absolutely! You would first need to provide details for a local USD bank account in your name (i.e. the same name on your WiPay account). To do this, simply:
· Sign in to your WiPay account
· Click on the Profile picture located in the top right of your screen
· Select the ‘Profile’ option
· Click on the ‘US Bank’ tab
· Fill in the details using the US Bank Account Information form provided (it’s important to fill in the details accurately to ensure that your USD funds can be successfully withdrawn)
Once you have completed this one-time process, you can proceed to request your USD withdrawal. The withdrawal process is essentially the same as withdrawing funds from your TTD balance.
Please note that all USD withdrawals are processed as USD wire transfers, for which different charges and conditions apply.
3. Sigh! I don’t have a local USD bank account in my name, so how can I withdraw the funds?
If you don’t have a USD bank account in your name for the purpose of withdrawing the USD funds, you can simply ‘transfer’ funds from your WiPay account’s USD balance to your TTD balance and request a TTD withdrawal. You can access the ‘Transfer’ option from the Withdrawal section of your WiPay account.
Please note that a rate of USD$1.00 to TTD$6.80 is currently used when transferring funds from your WiPay account’s USD balance to your TTD balance.
Should you have any questions or require any further information, please feel free to contact us at [email protected] or (868) 235-4729 where our Customer Experience Team will be happy to assist.
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