Linking your Australian bank account
In order to link your bank account to CoinJar, you must add your bank account details, wait 1-3 business days for two verification deposits to be sent to you, and enter those amounts in your CoinJar's settings.
The following criteria must be met in order to link your bank account:
- You have completed ID verification. You must be fully verified in order to link a bank account.
- The bank account name must match your verified legal name as recorded during ID verification.
- You haven't already linked this bank account with an existing CoinJar. We cannot provide more than one CoinJar per person, and third party transfers are not allowed.
- The bank account must be an Australian bank account as CoinJar currently supports the ability to link Australian bank accounts exclusively for residents of Australia. International CoinJar members can instead transfer funds from their CoinJar as a digital currency such as Bitcoin by making a new payment.
- The bank account details are not issued for the purpose of topping up pre-paid cards (gift cards, travel cards, prepaid credit cards, etc).
Making deposits to CoinJar from your bank account
It is not required to link your bank account in order to make a deposit to CoinJar. Linking a bank account is only necessary if you intend to make withdrawals from your CoinJar.
In order to be able to transfer funds from your CoinJar into your personal bank account, you'll first need to confirm you've entered your correct bank account details, and that the bank account itself is able to receive deposits from your CoinJar. To establish this, CoinJar will send two small verification deposits to your bank account. Once you've received these two deposit amounts, you can enter them to finishing linking your bank account.
- After signing in to your CoinJar, select "Settings" from the left hand menu.
- Navigate to the Linked Bank Accounts section and select 'Add bank account'.
- Enter your personal bank account details including name, BSB and account number, and the nickname you wish to give the bank account within CoinJar.
- Select 'Link this bank account'.
- CoinJar will now transfer two small deposit amounts to your bank account. These will arrive within three business days.
- When you receive your deposits, you can return to the Linked Bank Accounts section of your Settings. Select 'Verify now' next to the account that requires verification.
- Enter these two amounts that were sent to your bank account and select 'Verify'.
Your bank account has now successfully been linked to your CoinJar Account. From here you can transfer funds from any of your accounts within CoinJar to your personal bank account to make a withdrawal.
If you're having trouble linking your bank account, make sure of the following:
Do not continuously remove and add the same bank account
Our systems automatically send a new set of verification deposits every time you link a bank account which can take 1-3 business days to arrive in your bank account. It's important that you link your account once and wait for the deposits to arrive.
Wait up to 3 business days for the deposits to arrive in your bank account
Verification deposits are not sent instantly and can take 1-3 business days to appear in your bank account. Please wait up to 3 business days from the time you began linking your bank account to CoinJar.
Check that you have entered the correct BSB and Account Number
Remember, if either of these details are incorrect, the verification deposits will never arrive in your bank account. If you think these details might be wrong and it has been over 3 business days since you attempted to link your bank account, simply click Remove and try again.
If you're still having issues or have any questions about this process, don't hesitate to create a new Support ticket or email us at email@example.com