Are You Having a Problem with Withdrawals and Deposits?

Having trouble with your CoinJar deposits or withdrawals? CoinJar users occasionally encounter issues that can be easily resolved once you understand what's happening. Here are some straightforward solutions to get your funds moving smoothly again.

Common deposit and withdrawal restrictions

Name matching issues

Problem: One of the most frequent issues users face is when the name on their bank account doesn't match the verified name on their CoinJar account.

Solution:

• Ensure your CoinJar account is verified with your legal name.
• Confirm you're using a personal bank account with the exact same name.
• If you've recently changed your name, contact support@coinjar.com to re-verify your CoinJar account with your new legal name.

Joint account restrictions

Problem: Joint bank accounts cannot be linked to a CoinJar account.

Solution:

• While the standard policy doesn't allow joint accounts, CoinJar can make provisions in some cases.
• Contact CoinJar Support to discuss your specific situation.
• Be prepared to provide additional verification if your request is approved.
• Consider linking an individual account instead for the smoothest experience.

Cooling-off periods

There is no cooling-off period for deposits and withdrawals for most CoinJar customers. The only exception is for UK customers, who have a cooling-off period of 24 hours after initial account creation, but not for subsequent deposits and withdrawals. This cooling-off period is thanks to local regulations.

Pending bank account status

Problem: Many customers notice their bank account shows as "pending" in the app, preventing withdrawals.

Solution: This happens when users miss a critical step in the bank linking process:

• After entering your bank details in CoinJar, your account is in "pending" status.
• To complete verification, you must make a small deposit of any amount from this bank account to your CoinJar.
• This deposit confirms the account is valid and active.
• Your bank account will be successfully linked only after this deposit reaches your CoinJar.
• Once linked, you can instantly transfer funds to your bank account.

Understanding deposit and withdrawal timeframes

Timeframes can vary across regions.

Wire transfer (Fedwire)

Deposits

• 1-3 business days

Some banks can take up to three business days to send deposits. If your deposit isn't showing by the fourth business day, contact your bank to confirm the status.

Withdrawals

• 1-3 business days

CoinJar doesn't have control over the time it takes for your bank to credit your account. Some banks may take up to three business days to process withdrawals. If your withdrawal isn't in your bank account by the fourth business day, please contact CoinJar Support so we can confirm the status and help you follow up with your bank.

ACH

Deposits

CoinJar does not currently support deposits via ACH. Please use wire transfer to fund your CoinJar USD account.

Withdrawals

• 3-5 business days

If your withdrawal isn't in your bank account after five business days, contact CoinJar Support so we can confirm the status and help you follow up with your bank.

Key troubleshooting tips

Bank account not verified after a deposit?

If you've made a deposit but your bank account still isn't linked, check the following:

• Wire transfer deposit not used: Instant Buy deposits don't verify your bank account. Make a deposit using a direct wire transfer instead.
• Grouped accounts: Some banks process transfers using account details that differ from yours. Contact support@coinjar.com to confirm.
• Incorrect bank details: Double-check the account details you entered in the Linked Accounts section.

How to link your bank account

To withdraw funds into your personal bank account, you will first need to link your bank account to your CoinJar.

Eligibility

To link your bank account, please make sure that:

• You've verified your CoinJar.
• Your bank account name and the verified name on your CoinJar are the same.
• You are a US resident and have a US bank account.
• Your bank account is not a joint account.
• Your bank account isn't already connected to another CoinJar.

How to link your bank account with CoinJar

1. Sign into your CoinJar and select More in the top menu bar (web) or go to the More tab in the bottom right corner of the CoinJar mobile app.
2. Select Linked Accounts then Add Account.
3. CoinJar uses Plaid to connect your account. Select Get started.
4. Enter your phone number to log in or sign up to Plaid, then select Continue or choose Continue as guest.
5. Select your bank.
6. Enter your bank credentials and select Submit.
7. Select your account then select Continue.
8. Some banks may require an extra verification step requesting your account or routing number.
9. Select Continue to finalise linking your bank account.

You can now transfer funds between your CoinJar and your linked bank account.

Still having issues?

If you've tried the above and still can't resolve your deposit or withdrawal problem, contact CoinJar Support for personalised assistance.

By understanding these common issues and their solutions, you'll be able to enjoy a hassle-free experience with your CoinJar account!