How to open a US dollar account from Latin America without residing in the United States?

If you work as a freelancer, receive payments from abroad or are looking for a way to save in dollars, you have probably asked yourself this question: how to open a US dollar account in the United States without living there?

Until a few years ago, the answer was negative. Residency, face-to-face banking documentation and lengthy procedures were required. Today, fintechs offer an alternative that allows access to this benefit in a simple way.

In this article we explain how it works, what advantages it offers and how to open an account in dollars from Latin America in just a few steps.

The problem of receiving payments from the United States

If you charge clients or receive money from the United States you know the difficulties: slow and costly international transfers, local banks that do not accept direct deposits in dollars and platforms such as PayPal or Payoneer with high commissions and inconvenient exchange rates.

According to estimates from platforms in the region, up to 12% of a payment can be lost in commissions and conversion.

What is a virtual ACH account

ACH (Automated Clearing House) accounts are virtual bank accounts in the United States. They allow you to receive direct transfers from U.S. banks as if you lived there and connect digital wallets such as PayPal, Payoneer or Wise to withdraw funds in dollars.

The main difference is that you do not need to be a U.S. resident or have local documentation.

How to open a dollar account with CiNKO

The process to open a dollar account with CiNKO is simple:

1. Download the application and create a user.
2. Request the ACH account in the "Add Funds" section.
3. Within 1 to 3 days you will receive the US bank account information ready to receive wire transfers.

Direct payments can be received from a US bank, as well as funds from PayPal, Payoneer and other international payment platforms. The transfer fee is $1.00 per transfer.

What to do with the dollars received

Once the funds have been credited, it is possible to use them in different ways:

• Pay online with CiNKO Virtual Visa.
• Convert to pesos at the best available value and transfer to a local bank account.
• Maintain the balance in dollars within the application.

Main advantages

Opening a dollar account with CiNKO offers concrete benefits:

• Possibility to do so from any Latin American country.
• Receive payments from U.S. banks and USD wallets without residing in the United States.
• Fixed fee of $1.00 per transfer.
• Access to balance in dollars or crypto in a single application.
• Spend internationally with the CiNKO Virtual Visa.

What you need to know

Opening an account in dollars without residing in the United States is no longer a complex procedure reserved for only a few. Today it is an accessible tool for freelancers, entrepreneurs and anyone who receives payments from abroad in Latin America.

With CiNKO, the ACH account and Visa Virtual Card work together seamlessly to manage, convert and use funds without middlemen or excessive costs.

Download the application, create the user and activate the account in dollars and you can receive and use international payments in a simple, fast and secure way.

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