What is Local Bank Wire?

How is it different from International Bank Wire?

The local bank wire option allows you to receive funds from STICPAY partner banks in your country to your bank account in your own currency.
By using a local banking system in your country, you can save time and money as it eliminates the need for an intermediary bank. Using an intermediary bank would cost you 2-3 days processing time and higher transfer fees incurred by the international bank wire.

International Bank Wire

2~3 day processing time,
High transfer fees (5%)

  • STICPAY Partner Local Bank

  • Local Bank Wire

    1 day
    processing time,
    Low transfer fees(1~2%*)

  • Customer’s Local Bank Account

* Processing times can vary depending on the country and the transaction time of the day.

* Fees are different for each country please check the table.

What are the benefits of using Local Bank Wire?

Most importantly, STICPAY's Local Bank Wire service saves time and money.
This is made possible by receiving money directly from a STICPAY partnered domestic bank, unlike international bank wires.
It also makes it easier for anyone to send money by a few clicks rather than the traditional way of sending money internationally.

  • STICPAY’s Japanese Partner
    Bank Account

  • Local Bank Wire

    1 day
    processing time,
    Low transfer fees(1~2%*)

  • Ms. Hiroshige’s Japanese
    Bank Account

* Fees are different for each country please check the table.

Example :
Ms. Hiroshige resides in Japan and has a Japanese bank account. As a STICPAY user, she was reluctant to withdraw funds using international bank wires due to the high costs and longer transfer times. Now, with STICPAY’s new “Local Bank Wire” services in place, Ms. Hiroshige does not have to hesitate when withdrawing funds. All she has to do is to add her Japanese bank account information and the funds will be available for withdrawal from her account within the same day.

Is it legal to send money to my local bank account?

Yes. Unlike traditional transfers using the bank SWIFT Code network, STICPAY introduced domestic bank wires using blockchain methodology for transferring funds online. In other words, we use a technologically innovative way to move funds online: commonly referred to as FinTech. Blockchain technology is being adopted in many of our banking partners and it is becoming more and more common in the financial services industry. These banking partners are regulated in their own jurisdiction and approved by the regulators.

In which countries can I use
Local Bank Wire Services for withdrawals?

Local Bank Wire Services are only available at STICPAY for the first time in the industry with over 10 countries enabled worldwide. If you have a bank account in one of these countries, you can receive funds much faster than international bank wires.

You can now take advantage of STICPAY’s fast and reliable domestic bank wire services in many of the countries listed below.

Philippines

Philippines

Japan

Japan

Hong Kong

Hong Kong

Indonesia

Indonesia

Malaysia

Malaysia

Singapore

Singapore

China

China

South Korea

South Korea

Can I use Local Bank Wire for making deposits
to my STICPAY account?

You can now take advantage of STICPAY’s fast and reliable local bank wire services in many of the countries listed below.

Japan

China

South Korea

  • STICPAY’s Japanese Partner
    Bank Account

  • Local Bank Wire (Money in)

    0.5 day processing time,
    Low transfer fees(2%*)

  • Ms. Hiroshige’s Japanese
    Bank Account

* Fees are different for each country please check the table.

Ms. Hiroshige resides in Japan and has a Japanese bank account. As a STICPAY user in the approved country, she can deposit funds to STICPAY account using our partner bank in the Japan.

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