Once registered, we will get back to you within 5 business days on whether your account has been activated or if we need further documents from you. Our account verification process varies according to the nature of your business. In exceptional cases, it can take up to 7 days to process your documents.

There are no limits on the balance you can hold in your ROECNY USD Accounts.

You can easily register for an account by clicking here.
Registration with ROECNY takes less than 10 minutes and follows 3 steps:
1. Fill in the business details;
2. Fill in your director details;
3. Verify your identity with a Selfie or with MyInfo.
‍What you need
‍In the simplest case, you will need:
- Your name and ID number
- Your email and mobile (verified with an OTP)
- A picture of your identification document (national ID or passport)
- A live selfie (taken with your phone or computer camera during the registration process)
- If you already have a business - your business name, UEN, entity type, size (estimated turnover and # employees), and a description of your business activity or the address of your website.
Once registered, you will hear from us within 5-7 business days.
We may contact you for more information
If your company has corporate shareholders with more than 25% ordinary shares, we will request their shareholding certificate. This document should show the % ownership and identity of the shareholders (Full name, Unique Identification Number, Nationality, Address).
‍Examples of documents accepted as certificate of shareholding are:
‍- Certificates of incumbency
- Certificates of incorporation/registration
- Certified true copies of the shareholding structure, certified by a notary public

No minimum balance is required to keep your USD Accounts activated.
However, we recommend keeping your subscription plan amount available on your balance to ensure you're up to date with your payment every month.
*To create a recipient or make any transaction on your USD Account, you'll need to have a minimum balance of USD 10,000 on your account.

SWIFT is an abbreviation for the Society for Worldwide Interbank Financial Telecommunication and stands for a worldwide network of banks that work collaboratively to provide their customers with international bank transfers. All SWIFT transfers are carried out via the payer's bank, which gets debited and are routed through multiple intermediary banks before the recipient's bank is credited. This whole process can take up to 1-4 business days.

Local transfer uses a web of financial institutions through which the recipient can be paid using their local bank. Intermediaries are used for facilitating transactions and to clear the bank transfer payment, also known as a remittance.In local transfers, the funds are processed by the recipient's local bank in their local currency and settled through their local payment system.
All you need are the recipient's bank details, including their local bank account number. While local transfers are cheaper than SWIFT transfers, they take longer to process.

The key difference between international wire transfers and local bank transfers is that local bank transfers can be completed at a relatively low cost, whereas international wire transfers are generally more expensive. International wire transfers, however, are more reliable and faster than local bank transfers.

Global payment is the process of transferring money to a bank account that is set up in a foreign country. This payment could be made to your supplier, your vendor, an employee, a business affiliate or any other entity. Making global payments involved strenuous processes and numerous fees in the past, however, the process is easier and more cost-effective today.
Generally, a global payment provider is involved, who functions as an intermediary between the payer & the receiver from different nations. When a business uses its card to make a purchase, the provider receives the transaction details and relays them to the issuing bank which is located in a different country, thus requiring a process of conversion.

A Global Business Account is very useful if your business sends or receives payments internationally, it enables you to send and receive payments hassle-free under one account.
‍ 1. Save on foreign exchange costs
Saving currency conversion costs is the chief benefit of a multi-currency account. A multi-currency account allows you to receive payment in foreign currency, hold it for as long as you want and convert it when the rate is favourable for you, thus, saving you on conversion costs that add up to a significant amount in the long run.
‍ 2. Efficient cash flow management
Businesses often hold international payments because the conversion rates are not in their favour thus becoming a roadblock for efficient cash flow management. With a multi-currency account, however, you can send or receive money anytime and convert it later.
3. Smooth international transactions
With a Global Business Account, you can accept payments in your client or customer’s local currency and pay vendors in their preferred currencies. A Global Business Account allows you to create sub-accounts for different currencies. You can share the unique account number for each currency and send or receive payments easily which is very convenient.

The key difference between international wire transfers and local bank transfers is that local bank transfers can be completed at a relatively low cost, whereas international wire transfers are generally more expensive. International wire transfers, however, are more reliable and faster than local bank transfers.

There are 2 main types of charges involved with international business payments.
Account-related charges: These are charges related to the business account itself. These include administrative charges, cheque-related charges, document-related charges and service-related charges.
Transaction-related charges: These charges are specific charges which are related to individual transactions. This may vary basis which transaction type you choose Wire transfers, FAST, Debit cards, Credit cards etc.