This FAQ covers common questions about Global Accounts in Subotiz Accounts, including account applications, cross-border collections, receiving account details, account usage, and troubleshooting.
Account Applications and Fees
Why can't I apply for a Global Account?
You may be unable to apply for a Global Account for the following reasons:
- You have not completed your Subotiz Accounts application.
- Your Subotiz Accounts application is still under review.
- Your store has reached the maximum number of Global Accounts allowed. To request an increase, contact your account manager or email merchant-service@subotiz.com.
- Your business entity is not eligible for the selected country or region, currency, or account type.
Is there a fee to open a Global Account?
Some Global Accounts may have an account opening fee.
Before you submit an application, the applicable fee will be displayed based on the selected country or region, currency, and partner bank. If no fee is displayed, no account opening fee applies.
How long does it take to approve a Global Account?
Review times vary by country or region, partner bank, and account type.
After submitting your application, check the account details page for the current status and estimated completion time. If your account remains under review for an extended period, contact your account manager for assistance.
Receiving Details and Account Usage
Why do my account details show "--"?
While a Global Account is being processed, some bank account details may not yet be available. Fields such as the account number, SWIFT/BIC, and Routing Number will temporarily display as "--".
Once the account is activated, the available account details will appear automatically.
Where can I find my Global Account receiving details?
Go to Finance > Subotiz Accounts, locate the Global Account, and click Details. You can view and copy the account number, bank name, SWIFT/BIC, Routing Number, and other receiving details.
Which transfer methods does a Global Account support?
Available transfer methods depend on the country or region, currency, and partner bank. Common methods include:
- ACH Transfer
- International SWIFT Transfer
- Domestic RTGS Transfer
- Domestic FPS Transfer
Check the account details page for the transfer methods available for your account.
Can I link a Global Account to a third-party payment service provider (PSP)?
Yes. A Global Account can be used as a settlement account for eligible third-party payment service providers (PSPs) to receive platform payouts.
Each PSP may have different requirements for the account country or region, currency, account type, and business entity. Eligibility depends on the PSP's requirements and the capabilities of your Global Account.
If a Global Account is labeled PayPal, can it only receive funds from PayPal?
No.
A PayPal or similar label indicates that the Global Account is suitable or recommended for receiving payouts from that platform. It does not mean the account can only receive funds from that platform.
Supported payment sources and transfer methods depend on the capabilities and receiving requirements of your Global Account.
Do I have to use a Global Account as my Subotiz Payments payout account?
No. You can use an eligible external bank account or a Global Account as your payout account, subject to applicable review requirements.
- Global Account requested during the Subotiz Payments application: Once approved, the Global Account can be used as the payout account based on your account configuration.
- Global Account requested after Subotiz Payments is activated: To switch your existing payout account to a Global Account, contact Subotiz Support or your account manager for assistance.
Available payout accounts are subject to account review and configuration.
Do I still need a Global Account if I already have another virtual account (VA)?
Global Accounts and other virtual accounts (VAs) can be used at the same time.
You can choose which accounts to use based on your business needs. Global Accounts also work with Subotiz Accounts features such as foreign exchange, global payouts, and CNY settlement, allowing you to manage funds across currencies and markets.
Where can I view account and balance information if multiple stores use the same Global Account?
Eligible stores may be configured to use the same Global Account.
Account and balance information is available in the store where Subotiz Accounts was originally opened. Linked stores do not receive separate Global Accounts or separate balances.
Troubleshooting and Account Closure
What should I do if an incoming transfer hasn't arrived?
International transfer times can be affected by the sending bank, intermediary banks, and the receiving bank.
If an incoming transfer has not arrived within the expected timeframe, contact your account manager and provide the following information:
- Proof of transfer, such as a bank slip or MT103
- Receiving account details
- Expected arrival date
- Transfer amount and currency
Can I close an activated Global Account?
Yes. Before closing the account, make sure there are no pending incoming transfers or funds in transit.
Can a closed Global Account still receive funds?
No. Once a Global Account is closed, it can no longer receive new incoming transfers. Make sure you are not expecting any additional funds before closing the account.
Can I reopen a closed Global Account?
Whether a closed Global Account can be reopened depends on the account type and partner bank requirements.
Contact your account manager to confirm whether the account can be reopened.