Are You Having a Problem with Withdrawals and Deposits?

Occasionally, there can be a problem with deposits and withdrawals on CoinJar. Here are some solutions.

April 17, 2025

Key Takeaways

You may be asking, "Why can't I withdraw my funds from CoinJar?"
And also, "Why can't I deposit funds into CoinJar?"
Here are some initial solutions to try.

why can't I withdraw my money from CoinJar

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.

Solutions

-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: The CoinJar platform generally states that 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 your personal account instead for the smoothest experience.

Cooling-off periods

UK customers have a cooling-off period of 24 hours after initial account creation, but not for subsequent deposits and withdrawals. This cooling-off period is due 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.

Standard Bank Transfers:

-Typically processed by the next business day

-Can take up to 3 business days depending on your bank. Withdrawals:

-Usually arrives within minutes

Using Faster Payments

Faster Payments Deposits:

-Usually received within 1-2 hours

-First deposits may take up to 24 hours

-Subsequent deposits often arrive within an hour

Withdrawals:

-Most withdrawals received the next business day if made before cut-off

-Some banks may take up to 3 business days to process

Key troubleshooting tips

Bank account not being verified?

If you've made a deposit but your bank account still isn't linked, check these common reasons: Instant Buy deposit: These don't verify your bank. Make a deposit using a direct transfer instead.

Banking provider using grouped accounts: Some banks process transfers using accounts with different details than yours. Contact support@coinjar.com to confirm.

Incorrect bank details: Double-check the account details you entered in the Linked Accounts section.

Below is more information on how to link your bank account.

Steps to Link Your Bank Account (Website)

Sign into CoinJar and select More in the top menu

Navigate to Linked Accounts and click Add Account

Enter your personal bank account details and a nickname

Select Link bank account

Important: Make a small deposit of any amount from this bank account to your CoinJar

Your account will be linked once the deposit reaches CoinJar

Steps to Link Your Bank Account (App)

Go to the More tab in the bottom right corner

Select Linked accounts

Click on Link new bank account

Enter your bank account details and nickname

Select Link bank account

Important: Make a small deposit from this bank account to verify it

Your account will be linked once the deposit reaches CoinJar

Still having issues?

If you've tried these solutions and still can't resolve your deposit or withdrawal problem, please contact CoinJar Support who can provide personalised assistance to address your specific situation.

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

CoinJar

CoinJar is one of the longest-running cryptocurrency exchanges in the world. Since 2013, we’ve helped hundreds of thousands of people worldwide to buy, sell and spend billions of dollars in Bitcoin, Ethereum and dozens of other cryptocurrencies.

Read full bio

Browse by topic

Crypto Crypto exchange Bitcoin Altcoins Stablecoins Scam

Standard Risk Warning: The above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies.

The article is provided for general information and educational purposes only, no responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets.

We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets.

Capital Gains Tax may be payable on profits.

CoinJar's digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).

In the UK, it's legal to buy, hold, and trade crypto, however cryptocurrency is not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments.

You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you're unlikely to have recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if something goes wrong.

The performance of most cryptocurrency can be highly volatile, with their value dropping as quickly as it can rise. Past performance is not an indication of future results.

Remember: Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

UK residents are required to complete an assessment to show they understand the risks associated with what crypto/investment they are about to buy, in accordance with local legislation. Additionally, they must wait for a 24-hour "cooling off" period, before their account is active, due to local regulations. If you use a credit card to buy cryptocurrency, you would be putting borrowed money at a risk of loss.