Understanding bank deposit and withdrawal time frames

Pending BPAY transfer

If you have a pending BPAY transfer, please refer to our dedicated Knowledge Base articles:

Reasons for a pending BPAY transfer  

Expected bank deposit timeframes in Australia

There are two factors which make up the amount of time it takes for a new 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 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.

Internal review time

CoinJar receives new bank deposits each business day, usually between 9:00am and 12:00pm 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 this internal review time will become. 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 3:30pm (Melbourne time). Withdrawals requested after this time on any business day, or any time during the weekend, will be processed at 3:30pm the following business day. 

Bank withdrawals are not instantaneous. In our experience, most customer withdrawals are received during the morning of the next business day - provided the transfer is made before 3:30pm on a business day. CoinJar does not have control over the time it takes for your bank to credit your account, and some banks can 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: 7 May 2018 (AS)
Reviewed:7 May 2018 (AS)