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# Wallets

A wallet holds funds for a Party. Each party has one wallet that is automatically created when the party is created. Wallets use USD as the internal asset for all transactions. Parties can deposit and withdraw funds from a wallet over ACH. Currently, each party can support a single wallet.

## Wallet tiers

Wallets progress through capability tiers based on Party status:

| Wallet Tier        | Can Receive | Can Send | Party Requirements |
| ------------------ | ----------- | -------- | ------------------ |
| `RECEIVE_ONLY`     | Yes         | No       | Signup finalized   |
| `SEND_AND_RECEIVE` | Yes         | Yes      | KYC/KYB complete   |

## Escrow

When payments are sent to recipients who have not yet onboarded (via email or phone), funds are held in escrow for 30 days until claimed. The sender's wallet is debited immediately, but the recipient cannot offramp funds until they have completed KYB/KYC checks.

## Related concepts

* [Parties](/guides/concepts/parties) — Party identities that own wallets
* [Payments](/guides/concepts/payments) — Transferring funds between wallets
* [Agents](/guides/concepts/agents) — Autonomous agents that operate on wallet funds

> Understanding wallets and balance management