BANK012 - XTRM Named Account - Overview

Overview

For companies handling global payments, XTRM's Named Account system simplifies cross-border transactions by offering currency-specific bank details in your company name—streamlining collection, reconciliation, and trust without needing multiple physical accounts.

What Is a Named Account?

A Named Account is a virtual receiving account issued in your company’s legal name, tied to a single currency. It provides local bank details in your business name for international payments—without needing to open bank accounts in each region.

Core Benefits

• Receive funds faster in over 25 currencies directly into your XTRM Wallet
• Display your company name on statements, boosting trust and clarity
• Streamline reconciliation, eliminating confusion from generic omnibus accounts

How It Works

1. XTRM issues a separate Named Account for each foreign currency.
2. Your company distributes the appropriate bank details to payers.
3. Payments are sent to that Named Account and arrive in your XTRM Wallet in the same currency.
4. From there, funds can be exchanged, held, or withdrawn using XTRM’s wallet system 

Why This Setup Adds Value

• Unified payment hub: manage all currencies from one dashboard
• Transparent payment trails: reduces errors and disputes by showing your name on incoming transactions
• Operational simplicity: avoids managing multiple overseas bank accounts or platforms 

How to Activate Named Accounts

To activate Named Accounts, the following steps must be completed:

For USD Named Accounts (United States):

• Complete your Company Profile to 100%

• A banking compliance review will be performed by XTRM before activation

For All Other Currencies:

• Complete your Company Profile to 100%

• Submit the International Payments Application (available in your XTRM dashboard, More Info)

Once approved, your company will be issued local bank details in your name for each requested currency.

Named Account Currency Offering