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Depositing funds to your CoinJar

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This article is intended for Australian members. If you're looking for instructions for CoinJar UK, visit this article.


CoinJar offers three deposit methods for Australian dollar deposits to CoinJar. CoinJar members can also instantly buy cryptocurrencies using Instant Buy.

In this article

PayID
BPAY
Blueshyft

Before you begin

  1. You'll need to have completed identity verification in order to be eligible to deposit Australian dollars into your CoinJar.
  2. When making a deposit, the bank account from which you deposit funds must be held under your own legal name. 

 

Depositing funds to your CoinJar with PayID

PayID at a glance

  • No deposit fee
  • Typically arrives within a minute
  • Not all Australian banks support PayID at this time

Note: The very first PayID deposit you make to CoinJar may take up to 24 hours to arrive while your bank performs security checks.

Deposits via PayID typically arrive at CoinJar within a few minutes, and can be initiated outside of business hours without any additional delay.

How to make a PayID deposit

  1. Tap or click on the Deposit button on the home screen, select PayID, and take note of the PayID email address and your unique reference number.
  2. Open your bank's app or website, and follow the prompts to make a new payment. This process will be different for every bank.
  3. Select email address as the recipient and enter CoinJar's PayID email address (npp@coinjar.com). Don't select "Organisation ID" or "Business". 
  4. Enter the desired deposit amount.
  5. Enter your unique reference number in the reference/narration/description fields. 
  6. Confirm the payment.

Deposit being returned?
There are 2 common reasons why a deposit may not be successful:

  1. Deposits from another person's bank account will be rejected. You should only make a deposit from a bank account registered in the legal name that matches your recorded legal name on CoinJar.
  2. The reference number was not included or other text was included in the reference/narration/description field. You must not include anything besides the reference number alone - don't accidentally enter "Reference: ".

 

Depositing funds to your CoinJar with BPAY

BPAY at a glance

  • No deposit fee
  • Takes 1-3 business days to arrive
  • Held in the reserved balance for up to 7 days

Similar to regular bank transfers, BPAY allows you to send funds to your CoinJar from your online banking. 

All verified CoinJar customers are assigned a unique BPAY reference number. This reference number will never change, meaning you can easily schedule future transfers from your bank account.

How to make a BPAY deposit

  1. Tap or click on the Deposit button on the home screen, select BPAY, and take note of the biller code and your unique reference number.
  2. Open your bank's app or website, and follow the prompts to make a new payment. This process will be different for every bank.
  3. Enter the desired deposit amount.
  4. Enter the Biller Code and your unique reference number. 
  5. Confirm the payment.

Requirements and important information

  • BPAY deposits are not instantaneous, and can take up to 3 business days to arrive. BPAY deposits are not processed on weekends or public holidays observed in Australia.
  • BPAY has a minimum of $5 per deposit, and a single-deposit maximum of $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. 
  • CoinJar utilises reserved balances to minimise the risk of fraudulent BPAY transfers. Typically, BPAY deposits are held in the reserved balance for up to 7 days. 

 

Depositing funds to your CoinJar with Blueshyft 

Blueshyft at a glance

  • 1.5% processing fee
  • Arrives instantly
  • Subject to additional account limits

Note: This deposit method is not available to new CoinJar members.

Blueshyft allows you to deposit physical cash into your CoinJar from a selection of locations across Australia. These cash deposits incur a Blueshyft payment processing fee of 1.5%, however they allow you to make instant cash transfers into your CoinJar. 

How to make a Blueshyft deposit

  1. Tap or click on the Deposit button on the home screen, select Blueshyft.
  2. Enter the amount you wish to deposit into your CoinJar. 
  3. A unique QR code will be sent to your email address. Present this QR code to a sales assistant at any Blueshyft cash deposit location. They will scan your QR code and assist you with the deposit.
  4. Your deposit will be immediately added to your CoinJar's Cash Account.

Account limits
This deposit method is subject to additional account limits. Please check your account limits before heading out to a deposit location.

 

Learn more

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