# Global Collection Account
To collect payments, start by applying for a Global Account.
Global Account is a virtual account opened by partner banks of MoneyCollect, complete with full transfer details. You can receive bank transfers by providing third parties with the information of your Global Account.
Global accounts are designated for single-currency transactions. If you require payment collection in multiple currencies, you will need to open multiple Global Accounts. That there is no strict limit on the number of Global Accounts you can apply for.
You do not need a Global Account to receive settlement funds from MoneyCollect. Funds from MoneyCollect will be automatically settled into your available balance every settlement period (approximately 7 days).
### Conversion
The MoneyCollect Wallet currently supports balances in four currencies: USD, EUR, HKD, and JPY. Balances in these currencies can be converted in real-time.
The actual processing time for currency conversions depends on our partner bank. While these transactions are typically instantaneous, larger transactions may experience a settlement delay of 1-2 days.
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