To ensure a fast and convenient USD deposit and withdrawal experience, XREX collaborates with KGI Bank and Far Eastern International Bank to offer USD custodians. USD custodians serve as the channels for depositing and withdrawing USD on XREX, receiving and holding your USD assets in your XREX account.
Currently, Taiwanese nationals, residents, and corporations incorporated in Taiwan can only use KGI Bank as their USD custodian, while Far Eastern International Bank is exclusively available to non-Taiwanese individual users.
Please note that users who wish to use KGI Bank as their custodian must open an account with KGI Bank to access USD trust management and deposit/withdrawal services. If you are a non-Taiwanese individual or a business entity registered outside Taiwan, please use Far Eastern International Bank as your USD custodian.
It’s important to note that while Far Eastern International Bank is the designated USD custodian, your linked bank account is not limited to Far Eastern International Bank. You can also add foreign currency accounts from other banks located in our supported countries. For information on supported countries, please refer to the following article: Country List of Financial Institutions Supported.
Due to the different methods and precautions for linking bank accounts, please read the following steps and instructions carefully. For detailed information on the differences between the two custodians, please refer to: What are the differences in XREX's partner banks for USD services?
Taiwan nationals, foreign residents in Taiwan, and corporations incorporated in Taiwan: use KGI Bank as the United States dollar (USD) custodian:
Click on your profile picture at the top right corner of the Home screen.
Select Bank accounts.
Select USD bank accounts.
Click Let’s get started.
Click Next.
The custodian displayed on the screen varies based on your nationality, residence, or company incorporation.
Click Next and fill in the required information step by step, providing account proof documents. Please ensure that all fields are filled out accurately according to the system prompts.
Please note that both individual and corporate users can only link accounts under their own name or the name of the same company.
Your National ID number, Alien Resident Certificate (ARC) number, or company registration number will be filled in automatically by the system. If you notice any discrepancies between the displayed number and the ID or registration number you used to open your account with KGI Bank, click the Edit button at the bottom right of the field to contact us. Our customer support team will assist you in making the necessary changes.
Select Submit to send your application. Our relevant team will review your application and the USD account verification process typically takes 1–3 business days.
Non-Taiwanese individual users and corporations not incorporated in Taiwan: use Far Eastern Bank United States dollar (USD) custodian:
Click on your profile picture at the top right corner of the Home screen.
Select Bank accounts.
Select USD bank accounts.
Click Let’s get started.
Click Next.
The custodian displayed on the screen varies based on your nationality, residence, or company incorporation.
Click Next and provide the bank verification requirements.
Confirm that you are not a taxpayer in the US and select Submit.
Please note that each bank detail shall be filled in according to the requested information. We recommend you check with your bank for any difficulties when filling in your bank account information.
What are the requirements for a successful bank verification?
Bank verification is a process of confirming the authenticity and ownership of a bank account. The process of bank verification involves submitting the following information:
Account holder details: Bank account holder's name in both Chinese (if applicable) and English, billing address, etc.
Bank details: Bank country, account details, including the account number, bank name, and other relevant information.
Bank account document proof: Bank book cover, online banking screenshot, or bank statement.
The required information may vary depending on the custodian you use. The items listed above are examples; please follow the instructions provided in the app for the actual process.
The bank account document proof needs to include:
Beneficiary name
Bank name
Account number
SWIFT code or IBAN number
We currently only accept jpg. and png. file format with a size limit of 50 MB. Providing incorrect information or documents belonging to other third parties may affect your XREX account status.
Tips to consider when providing bank details:
Please fill in the billing address of your bank statement when adding a new billing address. This will generally refer to the contact address you provided when opening a bank account. Please note to write them using the Latin alphabet.
By clicking “billing address”, you could delete or add up to 10 addresses.
Address nickname refers to the remarks you save for this address. You can customize them in any language (eg. Home, company, etc.) as an easy future reference.
Depending on your bank account's domicile country, you may need to fill in the SWIFT / BIC code, or IBAN number. Eg. IBAN number is required for most banks domiciled in Europe; the SWIFT / BIC code is required for banks domiciled in other countries. Please fill in the information according to your banking details.
Account nickname refers to the remarks you save for this bank account. You can customize them in any language (eg. My Bank, XX Bank, etc.) as an easy future reference.
Complete these steps to enjoy fast and secure USD deposits and withdrawals!
Important notes:
USD bank verification typically takes 1-3 business days, depending on the submitted application. Incorrect banking information or discrepancies will affect your verification result.
XREX only accepts bank accounts held in your name and matches your identity verification documents. All other attempts to add bank accounts that use aliases, joint accounts, etc. will be rejected.
Please note that USD transactions are only processed after your bank account is linked successfully.
If you are using the KGI Bank USD channel, you must set up your XREX USD virtual account as the designated transfer account. For more information, please visit How to deposit US dollars to the XREX crypto-fiat exchange.
Please also be advised that if an incorrect SWIFT / BIC code or IBAN number is provided, this may result in a failure to deposit/withdraw USD, and additional service charges may apply.
Should you have any questions or require assistance, please contact our Customer Support Team via the XREX App or email at support@xrex.io.