Deposit Methods and Currency
How can I deposit funds into my Vest account?
Vest offers different deposit methods, adapted to your region:
International Wire Transfer: For transfers in USD from accounts outside the United States.
ACH Transfer: For transfers from bank accounts or multi-currency accounts like Wise in the United States.
You can connect your account using Plaid or enter the data manually.
Local Transfers (Local Currency):
SPEI (Mexico): For residents in Mexico.
Pix or TED (Brazil): For users in Brazil.
Transfer with FlutterWave: For users in Nigeria.
QR Bancolombia: For residents in Colombia.
Stablecoins: You can deposit using Stablecoins through our intermediary Avenia. (Available only for Brazil)
In what currency are my funds credited?
All funds in your Vest investment account are held and credited in United States Dollars (USD). If you deposit in local currency, the amount will be converted to USD.
Essential Rules and Requirements
Can I deposit from an account in someone else's name?
No. We only accept deposits made from bank accounts with the same ownership, meaning accounts in your name. If you make deposits from a third-party account or an account in the name of a company, the value will be returned.
Keep in mind that this process is not automatic; you must request the refund through support@mivest.io
If the deposit is from third parties in Nigeria, the amount will be reimbursed to the source account and a 2% fee will be deducted.
What information should I include in the transfer concept/reference?
For all local transfers (SPEI, Pix/TED, etc.), it is mandatory that you enter your Vest account number in the concept or reference field so that the money is credited correctly.
Are there deposit limits?
No, however, for local currency deposits from Nigeria we have two conditions:
Maximum value per transaction is ₦ 7,802,050.00, and
Maximum value per day is ₦ 15,604,100.00.
Processing Times
How long do my deposits take to be completed?
The time varies depending on the method and jurisdiction:
Deposit Method | Estimated Time |
International Wire Transfer | 1 to 5 business days |
ACH Transfer | Up to 4 business days |
Local Transfer | Maximum 3 business days |
What is the 30-day retention period for ACH?
ACH deposits must remain in your account for a minimum of thirty (30) days after the transaction is processed before they can be withdrawn. This policy acts as an anti-money laundering (AML) prevention mechanism and to ensure "authorized use" of the money.
Costs and Conversion
What fees does Vest apply for depositing?
Fees vary by country and method:
Deposit Method | Applicable Fee |
BRL/USD PIX Deposit | 1.85% + 1.1% IOF |
BRL/USD Stablecoin Deposit | 1.4% (No IOF paid) |
MXN/USD SPEI Deposit | 0.9% (Spread) + 0.6% (Transfer fee) |
NGA/USD FlutterWave Deposit | 2% |
COP/USD QR Bancolombia | Fixed $1850 COP + 2% (Spread) |
ACH Returns | $20 USD |
Wire Deposit Returns | $35 USD |
Is the final amount to be received exact?
No. The values shown during the simulation are estimates. The final amount in USD will be determined when your transfer is received and the conversion to the real exchange rate of the day is completed.
For more information on fees, consult our fee schedule here.