TRANSFER007 - Setting a default bank for Bank Direct transfers

Overview

Payments are typically sent directly to your Xtrm wallet. However, if a remitter chooses to send funds directly to your bank—typically at your request—you can enable Bank Direct. This allows incoming wallet payments to be automatically forwarded to a designated bank account linked to that wallet.

Use Case Example

You want all EUR payments received into a specific wallet to be automatically forwarded to a specific linked bank account.

How to Set Up Bank Direct

1. Notify the Remitter

   • Inform the remitter that you want to enable Bank Direct.

   • Let them know which wallet you want to be paid into (e.g., EUR wallet).

2. Set the Default Bank for That Wallet

   • Once a payment is sent to the selected wallet, it will automatically be forwarded to the default bank account you set.

Important Notes:

If there is no bank account linked to the wallet when a Bank Direct payment is received, the funds will remain in the wallet.

All Bank Direct payments are first deposited into your wallet, then instantly transferred to your designated bank.

How to Set a Default Bank

You can set the default bank during wallet creation or by editing an existing wallet.

A. During Wallet Creation

1. Navigate to Create Wallet.

2. Under Default Bank, select an existing bank or choose Link New Bank to add a new one.

The default bank can be set during wallet creation or wallet editing.

1. Wallet creation, select the default bank or Link new bank for transfer.

B. Editing an Existing Wallet

1. Go to My Wallets.

2. Select the wallet and click the Options Menu (⋮).

3. Click Edit.

4. In the Default Bank dropdown, select an existing bank or choose Link New Bank to add a new one.

3. Select the wallet and click the Options Menu (⋮).