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Linking your bank account using the CoinJar app

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


Linking your Australian bank account

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.

 

Ineligible bank accounts

In order to link a bank account to your CoinJar, the following criteria must be met:

  • 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 details are not issued for the purpose of topping up pre-paid cards (gift cards, travel cards, prepaid credit cards, etc). 

 

Adding your bank account

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.

  1. On the More tab, choose Linked accounts
  2. Select 'Add a new bank account'
  3. Enter your personal bank account details including your BSB and account number, the account holder's name, and the nickname you wish to give the bank account within CoinJar.
  4. Check the details you have entered are correct.
  5. Select 'Link bank account'.
  6. CoinJar will now transfer two small deposit amounts to your bank account. These will arrive within three business days.
  7. When you receive your deposits, you can return to the More tab in the CoinJar app, then select the bank account you'd like to enter the verification deposits for.
  8. Select 'Verify bank account', then enter the two verification deposits you received.
  9. Enter these two amounts that were sent to your bank account and select 'Verify bank account'. 

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.

 

Linking a non-Australian bank account

CoinJar currently supports the ability to link Australian bank accounts exclusively. International CoinJar members can instead transfer funds from their CoinJar as bitcoin by making a new payment.  

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