ACH for Cryptocurrencies USD
Customers approved for a Cryptocurrencies account with a Plaid compatible US bank account can now fund their INX Cryptocurrency account with FIAT USD currency via ACH transfer and also withdraw by following the steps below:
For deposits navigate to the Portfolio and Deposits tab and Select the Deposit option on the toolbar on the right.
- Then select Deposit > USD for Crypto trading
- Select the ACH option
- Select whether you want to use an existing bank account or a new one. This will open a Plaid pop up window where your bank account information can be verified
- Then you will have to select an eligible institution and log in
- After logging in, select your account and if successful you should see a confirmation screen
- Enter the amount you would like to deposit and press Continue. Once the bank transfer is completed, you will be notified by an email
For withdrawals navigate to the Portfolio and Deposits tab and Select the Withdraw option on the toolbar on the right.
- Then select Withdraw > USD for Crypto
- Select the ACH option
- Select whether you want to use an existing bank account or a new one. This will open a Plaid window where your bank account can be verified
- Then you will have to select your eligible bank of choice and log in to your banking institution.
- After logging in, select your account and, if successful, you should see a confirmation screen like the one shown below.
- After this, enter the amount you wish to withdraw and press continue.
- In the case of an ACH withdrawal, you will also have to confirm the transaction by email before it can be processed.
If your deposit/withdrawal request was successful you should see a confirmation pop up on the screen. At this point, your action will be processed by the system accordingly.
Who are ACH Deposits and Withdrawals available for?
ACH transfers will be available to all users that have a Plaid supported US bank account. Please note that although the option will be visible to all users regardless of country of registration, this only applies to users that have a valid US bank account that can be linked through the Plaid service.
If your bank is not supported, we cannot provide ACH services to you at this time. Please utilize our other funding methods.
What is Plaid?
Plaid is a service that provides the technology to connect your financial accounts and share their data with an app, service or company.
It authenticates your financial information, permitting companies to transfer sensitive information securely. It is used to ensure that the bank accounts ACH transfers are received from and sent to, match the users information on the platform.
What are the daily limits for ACH Deposits?
Daily limits are based on a tiered system:
Can I withdraw or transfer the funds deposited via ACH immediately?
There is a withdrawal hold in place for 7 calendar days after depositing using the ACH option. The hold only applies to the equivalent amount deposited in both FIAT and Cryptocurrencies.
For example, if you deposit $100 then there will be a hold for 7 days on withdrawals for this amount in FIAT or the equivalent of $100 in cryptocurrencies. Please note that you also cannot transfer this amount to Securities USD while the withdrawal hold is active.