Covering how to make a bank transfer to your CoinJar.
Transferring funds to your CoinJar in Australia
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.
In order to be eligible to transfer Australian dollars into your CoinJar, you must first become verified. 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.
Linking your bank account to your CoinJar is not required in order to make a new deposit. The bank account you transfer funds from must be under your own name - not a third party.
|Supports instant transfers||No||Yes|
|Supports cash deposits||No||Yes|
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'll be given the option to make a 'Quick Deposit' at the top of your CoinJar. You can select this for your BPAY details, including your reference number. On mobile browsers, select the dropdown menu attached to your profile image at the top of your screen and choose 'Add funds' for your BPAY 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. The biller name will be displayed as "Payment Technologies".
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.
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 $10 is required. BPAY transfers under $10 will automatically incur a $1.50 processing fee.
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:
- Once signed in to your CoinJar, navigate to the ‘Quick Deposit’ option at the top of your screen to show the Quick Deposit window.
- Select the Blueshyft tab and 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. All Blueshyft payments must be a multiple of "$10".
- Select 'Add funds'. 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.
Transferring funds to your CoinJar from a non-Australian bank account
CoinJar currently supports the ability to accept bank transfers from Australian bank accounts exclusively.
United Kingdom and Eurozone bank transfers have been supported previously, however have been disabled while CoinJar transitions to an alternative payment provider.
Updated: 18 Sep 2018 (AS)
Reviewed: 18 Sep 2018 (AS)