In the Web3 industry, trading is one thing; having a convenient way to move funds in and out is another.

Gate Money brings fiat and crypto asset management together in the Gate App. One feature worth noting is the USD same-name account. This article explains how to open an account, deposit funds, and transfer funds back to your own bank account.

Simply put, Gate Money is an all-in-one financial services module within the Gate App. It supports fiat and crypto asset management, deposits and withdrawals, conversions, and payments, with no need to download a separate app.

The USD same-name account allows eligible users to receive bank transfers through an account whose name matches their verified identity.

How to Open a USD Same-Name Account

The exact entry point may vary depending on your region, account eligibility, and app version. In general, follow these steps:

Go to Gate Money: Open the Gate App and go to the Money page on the home screen.

Select USD Deposit: Tap Add (Deposit) to go to the USD deposit page.

Apply for a dedicated account: Find the Bank Transfer (SWIFT) option, tap Next, and confirm activation.

Verify your personal information: Confirm your name, ID details, and residential address as required, and make sure they match your actual information.

Check the activation status: Once the account is activated, confirm that the page displays your name and the corresponding bank receiving details.

Fee reminder: Available information states that the USD same-name account has a management fee of 2 USDT/month, which is waived for VIP5 and above. Refer to the latest fee information shown on the activation page.

How to Deposit and Transfer Funds with Gate Money

1. Deposit funds into Gate Money from a bank

The process is simple:

Step 1: Go to Gate Money → Add → USD to view the receiving details for your dedicated account.

Step 2: Copy the recipient name, bank account number, SWIFT/BIC, and other details provided on the page.

Step 3: Open your bank app or online banking and select an international wire or SWIFT transfer.

Step 4: Enter the recipient details shown on the page, select USD, and verify the transfer amount, fees, and purpose.

Step 5: Confirm that the information is correct and submit the transfer. Save the transfer receipt and wait for the funds to arrive.

You can also deposit USDT through an exchange and convert it to USD to complete the deposit.

International transfers may incur fees from the sending, intermediary, and receiving banks. Processing times may also be affected by bank procedures, holidays, compliance reviews, and other factors.

2. Withdraw funds from Gate Money to a bank account

The general process is as follows:

Go to Gate Money and select the USD account and the corresponding feature, such as Withdraw.

Add or select a bank account held in your own name, as required.

Enter the withdrawal amount and confirm the fees and estimated amount to be received.

Verify the recipient information, complete any required verification, and submit the withdrawal request.

Check the processing status in your transaction history.

The exact entry point, supported banks, and withdrawal rules are subject to what is shown in the app.

Please note: When depositing and transferring funds through Gate Money, it is recommended that you use a bank account held in your own name and ensure that the account name and account details match. Before transferring funds, confirm any related costs, such as account management fees and bank transfer fees, and keep your transfer receipt in case you need to contact platform support about a delayed deposit. Also, having a same-name account does not guarantee that a transfer will succeed. Banks may still review the source of funds, transfer purpose, and other compliance requirements.

If you only trade crypto assets, you may not need to use Gate Money. But if you need to move fiat currencies such as USD in and out, the multi-currency account and same-name account are worth learning about.

Its core value is making it easier to manage fiat and crypto assets while making the recipient name for bank transfers clearer.