USD account
Your USD account
What the USD account is, what it costs and the three steps before you can use it.
Your USD account holds US dollars and lets you pay other members by their RoyalTag in seconds, free of charge.
It is yours, not ours
The account is created on your device. Only your device holds the key, protected by your PIN and by a 12-word recovery code. RoyalWallet stores just the public account number. This means nobody, including us, can move your money, and nobody can restore the account for you if you lose the recovery code.
RoyalWallet is not a bank and the balance is not a bank deposit. The dollars are held as USDC, a digital dollar issued by Circle, in the account on your device.
What it costs
| Plan | USD account |
|---|---|
| Commoner (free) | one-time activation of €1.50, not refundable |
| Duke and King | included |
Payments between members are free. On Commoner, 50 payments a month are included; each further payment and each payout outside RoyalWallet uses one payment credit (€0.99). Duke and King are unlimited.
The free King trial does not include the USD account. If you buy a plan during the trial, your account opens as soon as your identity is verified.
Before you can use it
- Activate. Pay the €1.50 activation, or choose Duke or King.
- Verify your identity. The law requires it for every account that holds money. You take a photo of your ID and a selfie in the app. Most checks are done within a day. We delete the photos 30 days after the decision.
- Back up the account. Write down the 12-word recovery code on paper and choose a PIN (at least 6 characters). Then tick I wrote it down.
Only then can you top up. After that, see Topping up and Sending money by RoyalTag.
Good to know
- Duke and King must verify their identity too. If a member on a paid plan does not complete verification, the account cannot be used, and what was paid for the plan is not refunded, as the Terms explain.
- Members under 18 and people living in countries under sanctions cannot open the account.