Yes, you can use Geegpay to receive payments from the USA, but it's important to understand the specific transfer methods and how fees might affect the final amount received. Geegpay supports incoming payments from the United States through particular domestic transfer mechanisms.
Receiving Payments from the USA via Geegpay
Geegpay allows you to receive funds from the United States specifically through ACH (Automated Clearing House) transfers or local wire transfers. These are common methods for moving money domestically within the U.S.
Here's a quick overview of these supported methods:
| Transfer Type | Description | Processing Time | Key Characteristics |
|---|---|---|---|
| ACH Transfer | Automated Clearing House transactions, widely used for direct deposits and bill payments within the U.S. | 1-2 Business Days | Generally lower costs, suitable for routine or recurring payments. |
| Local Wire Transfer | Domestic bank-to-bank electronic fund transfers within the U.S. | 1-2 Business Days | Faster than ACH for time-sensitive or larger sums, typically higher fees. |
These transactions generally process within 1 to 2 business days once initiated from the U.S.
Understanding Payment Processing and Fees
The final amount credited to your Geegpay account for payments received from the USA can be influenced by the SWIFT fee method chosen by the sender. This refers to how the international transfer fees are handled. The three common methods are:
- SHA (Shared): This means that the sender pays their bank's charges, and the recipient (you) pays the charges incurred by Geegpay's receiving bank and any intermediary banks.
- BEN (Beneficiary): Under this method, the recipient (you) is responsible for all transfer fees, including those charged by the sender's bank, intermediary banks, and the receiving bank. This means the amount you receive will be less than the amount sent.
- OUR (Our): With this option, the sender covers all transfer fees, ensuring that the full amount sent arrives in your Geegpay account without any deductions for bank charges.
It's crucial for the sender to be aware of these options as they decide how much of the fee burden falls on either party.
Key Considerations for Senders
When someone sends you money from the USA via Geegpay, they should be aware of:
- Supported Transfer Types: They must use either ACH or local wire transfer.
- Processing Time: Funds will typically be available within 1 to 2 business days.
- Fee Method Choice: Their selection of SHA, BEN, or OUR will directly impact the net amount you receive. For you to receive the full amount, the sender should ideally choose the "OUR" fee method if available for their specific transfer type.
For more detailed information on Geegpay services, you can refer to Geegpay's official resources.
