We introduced new USD accounts powered by a new banking partner, giving us a stronger foundation for a faster, more reliable experience in receiving and managing USD payments.
This guide is your one-stop resource for the entire USD account migration: what changed, why it matters, and the few steps you need to take to keep receiving USD payments without interruption.
What changed
We moved USD banking to a new partner to give you a faster, more reliable way to receive money from the U.S. Your old Wells Fargo USD account has been retired as part of this migration, and your new USD account is now the one you'll use to receive all USD payments going forward.
Your balances, transaction history, and funds are safe and completely unaffected by this change.
Why we made this change
The new setup was built to improve the parts of receiving USD that matter most to you:
Faster ACH deposits so U.S. payments land more quickly
Improved domestic wire processing for more efficient handling of time-sensitive transfers
FedNow support for real-time USD payments
Upwork FastTrack for faster access to your Upwork earnings
Stronger reliability and a foundation for new features we're rolling out soon
What you need to do
1. Create your new USD account (if you don't already have one). Some accounts were created automatically and may already be visible in your app. If yours isn't there yet, head to the Accounts page and tap Open Account.
You'll be asked to upload proof of earnings, such as a bank statement, your Raenest statement, or another valid proof of income. Once you submit, your new USD account is created instantly.
2. Update your payment details everywhere you receive USD.
Because your Wells Fargo account is retired, any platform or client still sending to the old details will not be processed. Update your new account details anywhere you currently get paid, including:
Upwork
Fiverr
Payoneer
Gusto
Employer or payroll systems
Clients and invoices
Any other payment platforms
For a full walkthrough, see our step-by-step guide: How to Create Your New USD Account on Raenest.
What this Means for Raenest FastTrack
Raenest FastTrack withdrawals now work only with your new USD account. To keep enjoying faster Upwork withdrawals through Raenest, update your Upwork payment details to your new USD account.
Important update on SWIFT deposits
SWIFT deposits are not supported on the new USD account. Please don't send SWIFT transfers to either one. If you usually receive money via SWIFT, you can use one of these options on Raenest instead:
ACH transfers
Domestic wire transfers
GBP bank accounts
EUR bank accounts
USDT wallets
USDC wallets
You can create GBP and EUR accounts, as well as USDT and USDC wallets, directly in your app. We're actively working on bringing on a banking partner to support SWIFT deposits again in the future, and we'll share more as soon as it's ready.
Frequently asked questions
Is my money safe during the migration?
Yes. Your balances, transaction history, and funds remain safe and fully accessible throughout the transition.
Do I have to create a new account, or is it automatic?
Some accounts were created automatically and may already appear in your app. If you don't see one, you can create it from the Accounts page in a couple of minutes.
What proof of earnings can I upload?
A bank statement, your Raenest statement, or another valid proof of income or earnings.
Can I still use my old Wells Fargo USD account?
No. It's been retired as part of the migration and no longer receives new payments. Move to your new USD account to avoid disruptions.