Bank accounts

The Bank Accounts settings page lets you manage the bank accounts that are connected to your Ripple USD account.

You can register up to three bank accounts from which you can transfer funds to buy Ripple USD. You must add a bank account before you can use it to buy Ripple USD (RLUSD). Funds received from any other account will be rejected and returned to the sender.

In addition, you can choose one of these bank accounts as the redemption account to use when redeeming Ripple USD (RLUSD) to USD fiat currency.

Note

If you want to change the details of a connected bank account, you must replace the existing account as bank account details can't be edited.

Add a bank account

You can add up to three bank accounts to your Ripple USD account. You must add a bank account before you can use it to buy or redeem Ripple USD (RLUSD).

To add a bank account:

  1. In the Ripple USD UI, go to the Bank Accounts settings page.
  2. Under the current list of bank accounts, click Add bank . (If this button is disabled, this means that you have already added the maximum of three bank accounts. You will need to deactivate a bank account, before adding a new one.)
  3. This displays a series of dialog boxes for entering your bank information. Fill in the information and select Next :
    • Account Name and Bank Name
    • Bank Address
    • Customer Address
    • Bank Details

    For more information on the individual fields, see Step 4 of the tutorial Connect your accounts.

  4. Upload a bank statement that proves account ownership and then select Add .
  5. Repeat the above to add up to a total of three bank accounts.
Note

It can take a maximum of three hours before a newly added account is approved and accessible for buying or redeeming RLUSD.

Designate a redemption account

Once you have added one or more bank accounts, you need to designate one of them as the redemption account to use when redeeming Ripple USD (RLUSD) to USD fiat currency.

To choose the redemption account:

  1. In the upper right area of the Bank Accounts settings page, select Manage redemption account .
  2. Select one of the available bank accounts to use as your redemption account.
  3. Select Save .

The blue Redemption account flag now appears next to the acount you chose.

Deactivate a bank account

You can deactivate bank accounts that are associated with your Ripple USD account.

Note

Ripple USD will not let you deactivate all bank accounts. If only one bank acccount currently exists, you will need to replace it with a different one. Also if you deactivate the bank account currently designated as the redemption account, it prompts you to designate one of your other accounts.

To deactivate a bank account:

  1. On the Bank Accounts settings page, click the arrow next to the bank account to expand the details.
  2. In the left column, click Delete Bank (in red).
  3. If this is the last bank account currently connected to your Ripple USD account, the UI prompts to replace it with a new account.
  4. If this is the bank account currently designated as the redemption account , the UI prompts to designate one of your other accounts as the new redemption account.

Replace a bank account

If you wish to change the details of a connected bank account, or if you want to deactivate the only remaining bank account, you will need to replace the bank account with a new one.

To replace a bank account:

  1. On the Bank Accounts settings page, select the bank account you want to replace.
  2. In the upper right corner, select the gear icon > Bank Accounts .
  3. At the bottom of the page, select Replace this institution .
  4. Fill in the following sections and select Next after each section:
    • Account Name and Bank Name
    • Bank Address
    • Customer Address
    • Bank Details
  5. Upload a bank statement that proves account ownership and then select Add .

The Bank Accounts page shows the updated bank account information.