This article is intended for Australian members. If you're looking for instructions for CoinJar UK, visit this article.
CoinJar currently supports the ability to accept bank transfers from Australian bank accounts exclusively.
Depositing and adding funds to your CoinJar in Australia
CoinJar members can now also instantly buy digital currencies via Instant Buy!
PayID and BPAY transfers are made digitally from either your bank account or directly within the CoinJar interface, whereas Blueshyft allows you to deposit cash directly into your CoinJar from a physical location. Instant Buy allows you to directly buy digital currency using a supported Visa or Mastercard.
|Transfer method||PayID||BPAY||Blueshyft||Instant Buy|
|Supports instant transfers||Yes||No||Yes||Yes|
|Supports cash deposits||No||No||Yes||No|
|Supports direct purchases||No||No||No||Yes|
CoinJar also supports direct debits on a payment schedule, known as recurring buys, for CoinJar Bundles. Direct debits are only supported with CoinJar Bundles - funds transferred to CoinJar via direct debit will not be received in your Cash Account.
- In order to be eligible to transfer Australian dollars into your CoinJar, you must first complete ID verification. If you don’t wish to become verified, you can still use CoinJar to send and receive bitcoin, however you won’t be able to transfer funds to or from your personal bank account or convert currency.
- The bank account you transfer funds from must be under your own legal name - not a third party. Linking your bank account to your CoinJar is not required in order to make a new deposit.
Transferring funds to your CoinJar with PayID / NPP
Payments to your CoinJar's PayID typically arrive at CoinJar within a few minutes, and can be initiated outside of business hours without any additional delay.
First-time deposit delay
The very first PayID deposit you make to CoinJar may take up to 24 hours while your bank performs security checks.
Transferring funds to CoinJar using PayID is powered by Osko®, which is built on the New Payments Platform (NPP). Not all Australian banks support PayID at this time. A list of banks that offer NPP payments is available on the NPP website.
Viewing your CoinJar's PayID details
- If you're using a desktop browser, you can click the 'Deposit' button at the top right of your CoinJar home page. You can then select Pay ID/NPP and read the information carefully before clicking ‘View PayID details’ to reveal your unique deposit details.
- On mobile browsers, select the dropdown menu attached to your profile image at the top of your screen and choose 'Add funds' for your PayID details.
Making a payment to your CoinJar's PayID
- Once you have CoinJar's PayID and your reference number, sign in to your online banking and make a new PayID payment. This process will vary depending on your bank.
- Enter CoinJar's PayID and your reference number, along with the amount you wish to transfer to your CoinJar. You must not include anything besides the reference number alone - don't accidentally enter "Reference: ".
Important PayID requirements
- You must ensure to make a PayID deposit using only a bank account in your name.
- You must include your unique reference number in the description field for the payment to be successful. Payments with incorrect, incomplete or missing information will be automatically rejected and returned to the sending bank account.
Transferring funds to your CoinJar with BPAY
Similar to a regular bank transfers, BPAY allows you to send funds to your CoinJar from your online banking. There are no fees involved with making new BPAY transfers, however please refer to 'Important BPAY requirements' below for details regarding credit payments.
All verified CoinJar customers have been assigned their own unique BPAY reference number. This reference number will never change, meaning you can easily schedule future transfers from your online banking.
- If you're using a desktop browser, you can click the 'Deposit' button at the top right of your CoinJar home page. You can then select BPAY and read the information carefully before clicking ‘View BPAY details’ to reveal your unique deposit details.
- Once you have your reference number, it’s simply a matter of signing in to your online banking and creating a new BPAY transfer. Enter CoinJar's BPAY Biller Code and your CoinJar's Reference number, along with the amount you wish to transfer to your CoinJar.
BPAY transfers are not instantaneous. For details on how long it will take for your funds to reach CoinJar, please refer to our dedicated Knowledge Base article.
CoinJar utilises reserved balances to minimise the risk of fraudulent BPAY transfers, and these can influence the time it takes before you can withdraw your bank transfer from CoinJar. Please ensure you take this into consideration when making a new deposit into your CoinJar from your bank account - full details are available within the 'Quick Deposit' section of your CoinJar.
CoinJar's BPAY biller name
When making a BPAY transfer from your online banking, you may be given the option to show the biller name within your online banking interface. The biller name will be displayed as "CoinJar" or "Payment Technologies".
Important BPAY requirements
- Please note that CoinJar does not allow BPAY transfers sent from credit accounts or from third parties. Only make BPAY transfers from a transaction account in your own name and from a regular transaction account. Accidental credit card transfers to CoinJar can face delays of up to several weeks, as well as additional processing fees - our payment provider charges a 2.9% processing fee for any credit payments. This fee remains even if the payment is reversed.
- When making a transfer, please ensure the amount remains within your daily deposit limit to avoid additional delays.
- A minimum transfer amount of $5 is required.
- CoinJar's payment provider can currently only accept BPAY deposits of up to $50,000. If you wish to deposit more than this amount, you can do so by making multiple deposits in increments of $50,000 or less. For example, if you wish to make a deposit of $60,000 to CoinJar, simply make 1 deposit of $10,000 and another deposit of $50,000.
Transferring funds to your CoinJar with Blueshyft
Blueshyft allows you to deposit physical cash into your CoinJar from a selection of locations across Australia. These cash deposits do require a Blueshyft payment processing fee of 1.5%, however they allow you to make instant cash transfers into your CoinJar.
To transfer Australian dollars to your CoinJar using Blueshyft:
- If you're using a desktop browser, you can click the 'Deposit' button at the top right of your CoinJar home page. You can then select Blueshyft and read the information carefully before clicking ‘Start a deposit’.
- Enter the amount you wish to transfer into your CoinJar. You can check your current daily Blueshyft limit in your CoinJar Settings. Transfers must be of at least $50, and are limited to $5,000 per 24 hours, as well as an additional limit of $10,000 per 30 days. All Blueshyft payments must be a multiple of "$10".
- Select 'Next'. You'll then be provided with a unique QR code - sent to your email address. Present this QR code to a sales assistant at the Blueshyft cash deposit location of your choice, advising you wish to make a new cash deposit using Blueshyft. They will be able to assist with completing your deposit.
- Your cash deposit (minus the Blueshyft payment processing fee of 1.5%) will be added directly to your CoinJar's Cash Account.