> ## Documentation Index
> Fetch the complete documentation index at: https://docs.anchorage.com/llms.txt
> Use this file to discover all available pages before exploring further.

# USD interest

> Enroll in the USD Interest Program and earn interest on USD holdings.

Anchorage Digital offers the ability to earn interest on USD holdings held on the platform.

## Eligibility and enrollment

Accounts created after February 26 are automatically enrolled in the USD Interest Program.

<Note>
  ETF and Wealth Management clients (including Exchange-Traded Funds and Registered Investment Advisors) are currently not eligible for the USD Interest Program.
</Note>

To enroll manually, navigate to your USD wallet, select **Deposit**, then **Enroll now**.

Enrollment is at the account level. If you have multiple accounts, you must enroll each one separately.

<Warning>
  Once enrolled, you'll see new USD deposit instructions in your account. Your existing deposit instructions remain fully functional. If you don't want your deposit instructions to change, contact your relationship manager.
</Warning>

## Changes after enrolling

Once enrolled:

* **Primary custodian**: BNY serves as the primary bank for deposits and withdrawals. Your USD wallet deposit instructions update dynamically to reflect BNY details.
* **International wires (SWIFT)**: BNY is a SWIFT member, so you can send and receive international wires over SWIFT without an intermediary bank. Intermediary bank instructions for international USD trusted destinations are now optional, and previous country restrictions have been removed.
* **Domestic wires**: Deposit instructions for BNY don't require a domestic intermediary bank.

Previous deposit instructions continue to operate even if they're not displayed in your wallet's deposit instructions.

## Interest accrual and payouts

| Component         | Description                                                                      |
| ----------------- | -------------------------------------------------------------------------------- |
| Daily accrual     | Interest accrues daily based on your account's wallet balances.                  |
| Monthly payout    | Accrued interest is distributed by the 10th calendar day of the following month. |
| Transaction label | Interest appears as "Interest earned" in your activity feed and statements.      |

Interest payouts appear automatically in your standard Anchorage Digital reporting tools: Activity feed, Statements, User-generated reports, and Webhooks.

## Tax reporting

At the end of the tax year, you'll receive a 1099 tax form for interest earned on USD. One form is issued per account.

For questions about enrollment status, banking instructions, or interest payouts, contact Anchorage Digital Support or your Relationship Manager.