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Deposit and withdrawal time frames

Andrew
  • Updated

PayID & Bank Transfer (AUD)

Deposits made using the New Payment Platform (NPP) via PayID are often considered to be "instant", due to them being able to be approved within a minute of the amount being sent. In some cases, PayID payments can take longer than expected due to (but not limited to) the following reasons: 

  • It's your first PayID deposit to CoinJar. Some banks will enforce a delay if it's your first payment to a new payee. 
  • Delays in the NPP network or your bank's network.
  • Your bank does not support PayID and the payment has defaulted to a standard bank transfer (direct credit).
  • The deposit may be under review by CoinJars security team.

In regards to standard bank transfers there are two factors which make up the amount of time it takes for a bank transfer deposit to be available in your Cash Account - bank transfer time and internal review time. 

CoinJar does not have control over the time it takes for your bank to send your bank deposit. In our experience, most deposits are received during the morning of the next business day, provided the transfer was completed before your bank's cut-off time.

Some banks can take up to three full business days to send deposits. If you haven't seen your deposit displayed in your Cash Account by the 4th business day, we recommend contacting your bank to confirm the status.

 

Withdrawals from CoinJar are processed as NPP payments. This means that withdrawals are almost instantaneous and should arrive within minutes.

Please note that if your bank does not support PayID the withdrawal will be sent as a standard bank transfer (direct credit), this can take between 1-3 business days to arrive

If you haven't seen your withdrawal in your bank account after several minutes, we recommend contacting CoinJar Support to confirm the withdrawal status and gather information to help you follow up with your bank. 

 

SEPA (EUR)

  • 1-2 Business days

Faster Payments (GBP)

Bank deposits to CoinJar via Faster Payments Service (FPS) are normally received within 1-2 hours. In some cases, bank transfers can take longer than expected due to (but not limited to) the following reasons: 

  • It's your first deposit to CoinJar from your bank account. The first deposit from your bank account can take up to 24 hours. Subsequent deposits will be a lot faster, often reaching your CoinJar account within the hour. 
  • Your sort code or account number was entered incorrectly. If this occurs, please contact your bank immediately so they can assist with stopping or recalling the transfer.

Bank withdrawals from CoinJar have a 3.30pm GMT cut off time for same day processing. Withdrawals requested after this time on any business day, or any time during the weekend, will be processed at 3:30pm GMT the following business day. 

Bank withdrawals are not instantaneous. Most customer withdrawals are received during the morning of the next business day - provided the withdrawal is made before 3:30pm GMT on a business day. CoinJar does not have control over the time it takes for your bank to credit your account after the withdrawal has been processed, and some banks may take up to three business days to credit withdrawals.

Withdrawals are processed by our payment partner, "Clear Junction". They will be displayed as the sender on your bank statement along with a unique "CoinJar" reference. 

If you haven't seen your withdrawal in your bank account by the 3rd business day, please contact CoinJar Support to confirm the withdrawal status and gather information to help you follow up with your bank. 

 

 

 

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