Virtual Accounts

Fiber is a financial technology company, not a bank. Banking services are provided by SSB, Member FDIC. Funds deposited at SSB are eligible for FDIC insurance up to $250,000 per depositor, per insured bank, subject to applicable limitations and FDIC rules.

Virtual Accounts give eligible users US bank details for moving money into and out of Fiber. Banking services are provided by SSB, Member FDIC, through Fiber's integration with Rain. Eligible USD deposits are converted into USDC and delivered to your Fiber account. You can also convert USD stablecoins back into dollars and withdraw to a US bank account.

FDIC insurance applies only to eligible USD deposits held at SSB, Member FDIC. Once USD is converted into stablecoins, it is no longer a deposit and is not FDIC insured. Stablecoins and other digital assets are not deposits, are not FDIC insured, and are not obligations of or guaranteed by SSB.

A Virtual Account provides payment details for supported fiat transfers. It does not create a separate stored-value balance in Fiber.

Who can get US bank details

US bank details are optional. Creating a Fiber account does not open one. You can use Fiber for stablecoins without ever applying.

To apply, you need:

• A verified email address and a verified phone number on your Fiber account
• Identity verification: a passport, ID card, or driver's license, a selfie, your legal name, date of birth, home address, and a short financial profile (income range and occupation)
• To accept the Virtual Account User Terms of Service
• To be at least 18, under Rain's terms
• An eligible country of residence

Rain does not currently offer virtual accounts to residents of: Afghanistan, Algeria, Angola, Belarus, Bhutan, Bulgaria, Burkina Faso, Burundi, Cameroon, Central African Republic, China, Croatia, Cuba, Côte d'Ivoire, Democratic Republic of the Congo, Ethiopia, Guinea-Bissau, Haiti, Hong Kong, India, Iran, Iraq, Israel, Kenya, Kosovo, Lebanon, Libya, Mali, Monaco, Montenegro, Mozambique, Myanmar, Namibia, Nepal, Nicaragua, Niger, Nigeria, North Korea, Pakistan, Palestinian Territories, Qatar, Russia, Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Tanzania, Türkiye, Ukraine, Venezuela, Vietnam, and Yemen. Rain sets this list and can change it. The app checks eligibility when you apply.

Fiber decides your country of residence from your verified identity first, then your verified phone number, then the country you selected, then your location. See Your Account.

Set up your details

1. On Home, tap Receive, then US Bank Transfer. On the web, choose Receive > US bank transfer.
2. Tap Get started. Fiber asks you to verify your email or phone if either is missing.
3. Complete identity verification. It takes about three minutes.
4. Accept the terms and tap Get account details.

What you may see while Fiber and Rain review your application:

Rain may ask for more even after Fiber's identity check is approved. When you return from Rain's verification flow, Fiber checks your status again. Fiber can also send a push notification and email asking you to continue verification; open Fiber to find the link for your application.

Your account details

Once you're approved, the screen shows the account holder, bank name, account number, ACH routing number, and account type. When a transfer memo is shown, include it with every transfer. The account and bank addresses are in their own sections. Copy all details copies everything except those addresses.

Always use the exact details shown in the app. The payment methods your details support are shown in Fiber. Using an unsupported method or wrong details can delay a transfer, or cause it to be rejected or returned.

Receiving USD

When someone sends USD to your details:

1. Fiber notifies you that a bank transfer is on the way. Receive shows a Bank transfer in progress card.
2. Rain converts the USD to USDC and sends it to your Fiber wallet.
3. Fiber moves the USDC into your private balance. The activity then shows Completed, and you get a "Deposit complete" notification.

Your activity shows Processing until the USDC reaches your private balance, even after Rain reports the transfer as settled. If it stays on Processing much longer than expected, ask for a person in the assistant. Include the date, the amount, and the BK reference.

If the activity reads "Your bank deposit didn't go through," one of two things happened. Either the bank transfer was stopped and returned to the account it came from, or the USDC arrived but couldn't be moved into your private balance. Don't send it again. Ask for a person in the assistant and include the BK reference.

Processing times depend on the payment rail, banking hours, compliance review, and provider availability. Rain or its providers may ask about your identity, the source of funds, or the purpose of a transfer before completing it.

Withdrawing to a US bank account

1. On Home, tap Send, then US Bank account.
2. Choose Myself, Someone else, or Business. Enter the 9-digit routing number, the account number, checking or savings, ACH or Wire, the account holder's name and address, and the bank's address. The holder can live anywhere, but the bank must be in the US.
3. Enter the amount, review, and press and hold to withdraw.

Requests made after the cutoff, or on a weekend, start the next business day. Each saved bank account uses one rail. The minimum withdrawal is $2 and the maximum is $1,000,000. You can have one withdrawal processing per saved account.

A withdrawal shows Processing, then Money sent while the destination bank confirms receipt, then Completed. If the bank returns it, the money comes back to your Fiber balance.

Fees and limits

Fiber charges $0 for ACH and wire deposits. Rain's terms state that Rain does not charge users for the Virtual Account service. Banks and other third parties may charge their own fees.

ACH withdrawals are free. Wire withdrawals cost $14, a provider cost passed through without a markup. The app shows the cost of each withdrawal before you confirm.

Rain may limit the amount or frequency of transfers.

Availability

Virtual Accounts are subject to eligibility and availability through Rain. Supported currencies, payment rails, transfer types, stablecoins, limits, and other features may vary by jurisdiction and may change over time.

Review all payment details carefully before starting a transfer. Contact Fiber support if you notice an incorrect or unauthorized transaction.