CoinJar Support

Understanding bank deposit and withdrawal time frames

Andrew (Melbourne) -

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Australia / Other

  


 

Expected bank deposit timeframes in Australia

CoinJar accepts BPAY and POLi transfers exclusively for all Australian dollar deposits. There are two factors which make up the amount of time it takes for a deposit to be available in your Cash Account:

  1. Bank transfer time
  2. Internal review time

Bank transfer time

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

Some banks take up to three 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.

 

 

Internal review time

CoinJar receives new bank deposits each business day, generally between 9:00 AM and 12:00 midday (Melbourne time). As soon as we receive your deposit, we automatically transfer the funds into your Cash Account balance in a pending state. This lets you confirm that the deposit has been successfully received from your bank.

As part of our fraud prevention initiatives we then review deposits before the funds are fully released into your Cash Account. These deposits will remain in a pending state until approved, at which point you'll receive a notification that the deposit is available.

The more regularly you make deposits to CoinJar, the faster your deposits will be approved. If you feel your deposit is being held for too long we encourage you to contact CoinJar Support to request an expedited review.

 

Depositing funds from your bank account

 

Expected bank withdrawal timeframes in Australia

CoinJar processes withdrawals each business day at 4:30 PM (Melbourne time). Withdrawals requested after this time on any business day, or any time during the weekend, will be processed at 4:30 PM the following business day.

CoinJar does not have control over the time it takes for your bank to credit your account. In our experience, most customers' withdrawals are received during the early morning of the next business day.

Some banks take up to three business days to process withdrawals. If you haven't seen your withdrawal in your bank account by the 4th business day we recommend you contact CoinJar Support to confirm the withdrawal status and gather information to help you follow up with your bank.

  


 

Expected bank deposit timeframes for international banks

CoinJar currently supports the ability to accept funds from Australian bank accounts exclusively. United Kingdom and Eurozone bank transfers were previously supported, however they have temporarily been disabled while CoinJar transitions to an alternative payment provider. 

 

Expected bank withdrawal timeframes for international banks

CoinJar currently supports the ability to transfer funds to Australian bank accounts exclusively. International CoinJar members can instead transfer funds from their CoinJar as bitcoin by making a new payment

 

Updated: 26 Oct. 2016 (AS)
Reviewed: 26 Oct. 2016 (AS)


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