Global Bank Accounts

Overview

While the Nova Digital Wallet provides users with a central place to receive and manage funds, Global Bank Accounts extend those capabilities by connecting users to the traditional banking system.

Through Nova, eligible users can access dedicated banking details in supported currencies without opening separate bank accounts in every country where they operate. This allows businesses and individuals to receive domestic and international payments, manage balances across multiple currencies, and move funds efficiently between banking networks and the Nova ecosystem.

By combining modern financial infrastructure with established banking rails, Nova simplifies international banking while reducing the operational complexity typically associated with cross-border financial services.

Why Global Bank Accounts?

Managing international banking relationships can be expensive, time-consuming, and administratively complex.

Businesses operating globally often need to:

• Open bank accounts in multiple countries
• Manage different banking partners
• Handle multiple currencies
• Reconcile payments across several institutions
• Navigate varying regulatory requirements

Nova simplifies this process by providing access to global banking capabilities through a unified platform.

Instead of managing multiple banking relationships, businesses can manage funds through a single financial ecosystem.

Key Benefits

Access Local Banking Services

Receive funds using local banking details in supported jurisdictions, helping reduce friction for customers, partners, and payment providers.

Simplify International Operations

Operate across multiple countries without establishing a traditional banking relationship in every market.

Centralized Financial Management

Manage banking activities alongside wallets, cards, rewards, cryptocurrency, and other Nova financial services from one platform.

Improve Cash Flow

Receive payments, hold balances, convert currencies, and distribute funds without constantly moving money between unrelated financial providers.

Global Scalability

As businesses expand into new markets, banking capabilities can grow alongside their operational requirements.

Core Capabilities

Receive Domestic Payments

Users can receive payments using local banking rails where available.

Receiving domestic payments often reduces settlement time while providing a more familiar payment experience for customers and business partners.

Receive International Transfers

Nova supports international payment networks that enable businesses to receive funds from organizations and individuals operating in different countries.

This helps simplify cross-border business while reducing the complexity traditionally associated with international banking.

Hold Multi-Currency Balances

Funds may be maintained in supported currencies without requiring immediate conversion.

This provides greater flexibility for businesses operating internationally while reducing unnecessary foreign exchange activity.

Transfer Funds

Users can move funds between:

• Nova Wallets
• External bank accounts
• Business accounts
• Supported payment destinations

Transfers can be initiated directly from available account balances using supported payment methods.

Foreign Exchange

Where supported, users can convert between available currencies directly within the Nova platform.

Currency conversion enables organizations to manage international operations more efficiently while reducing dependence on external foreign exchange providers.

Integration with Other Nova Services

Global Bank Accounts work seamlessly with other Nova products.

For example:

• Receive customer payments into a bank account.
• Transfer funds into a Nova Wallet.
• Issue a payment card linked to available balances.
• Send funds to another user.
• Withdraw cryptocurrency proceeds.
• Distribute rewards.
• Pay international contractors.

This integration eliminates unnecessary movement between disconnected financial systems.

Typical Business Use Cases

International Payroll

Organizations paying employees across multiple countries can distribute salaries using local banking infrastructure while managing funds centrally through Nova.

Supplier Payments

Businesses can pay domestic and international suppliers using supported banking networks without maintaining numerous banking relationships.

Marketplace Settlements

Marketplace operators can collect payments from buyers and distribute seller earnings using integrated banking services.

Cross-Border Commerce

Businesses selling internationally can receive payments in supported currencies before deciding when and how to convert funds.

Treasury Management

Organizations can centralize balances, manage liquidity, and optimize currency exposure through a single financial platform.

Security

Global Bank Accounts benefit from the same enterprise-grade security framework that protects the rest of the Nova platform.

Security measures include:

• Strong user authentication
• Encrypted communications
• Continuous transaction monitoring
• Fraud prevention controls
• Detailed audit logging
• Role-based permissions

These controls help protect both users and organizations while maintaining operational efficiency.

Compliance

Banking services operate within applicable regulatory frameworks.

Depending on the services being accessed, users or organizations may be required to complete identity verification or business verification processes before certain banking capabilities become available.

Compliance measures may include:

• Know Your Customer (KYC)
• Know Your Business (KYB)
• Anti-Money Laundering (AML)
• Sanctions screening
• Ongoing transaction monitoring

Requirements vary depending on jurisdiction, account type, and the financial services being used.

Frequently Asked Questions

Do I need to open a separate bank account?

No. Nova provides access to banking capabilities through the platform, allowing eligible users to manage funds without establishing traditional banking relationships in every supported country.

Can I receive payments from overseas?

Yes. Global Bank Accounts support receiving domestic and international payments through supported banking networks.

Can I hold multiple currencies?

Yes. Users can maintain balances in multiple supported currencies, providing greater flexibility for international business operations.

Can I convert currencies?

Yes. Where available, Nova provides integrated foreign exchange services, allowing users to convert between supported currencies directly within the platform.

Are Global Bank Accounts connected to my Nova Wallet?

Yes. Banking services integrate directly with the Nova Digital Wallet, allowing users to move funds seamlessly between banking services and the broader Nova ecosystem.

Summary

Global Bank Accounts bridge the gap between modern digital finance and traditional banking infrastructure.

By combining local banking capabilities, international payment networks, multi-currency balances, and integrated financial services within a single platform, Nova enables businesses to simplify cross-border banking while maintaining flexibility, security, and operational control.

Whether receiving customer payments, paying suppliers, managing treasury operations, or supporting international expansion, Global Bank Accounts provide the banking foundation needed to operate confidently in today's global economy.