What is Instant Deposit?

The Instant Deposit feature credits you with the deposit amount before the funds are settled, so you no longer have to wait to start buying crypto. After you initiate an Instant Deposit, you will receive the funds within 30 minutes.

How is Instant Deposit different from standard ACH and wire transfers?

Standard ACH and wire transfers are initiated from your banking app, whereas Instant Deposit is initiated directly from the Crypto.com App.

Standard ACH and wire transfers can take up to 5 business days to settle into your account and be used. With Instant Deposits, you can use the funds within minutes after initiating the deposit, although you will be restricted from withdrawing funds for 7 business days (day 0* being the day you initiated the deposit).

*Please note that:

  • If the deposit is created outside business hours (9EST-17EST), day 0 will be the next business day.

  • Federal holidays are not counted as business days, therefore such days will also be considered as 0.

Example:

21st of February is a federal holiday, meaning that it is not a business day. If John initiates an ACH Pull Deposit on the 18th of February 2022 (Friday), the first business day will be the 22nd of February 2022 (Tuesday).

Setting Up Instant Deposit

Who is eligible to use Instant Deposit?

U.S. users who meet all of the following requirements are eligible to use the Instant Deposit feature:

  • Has a Social Security Number (SSN)*

  • Has a U.S. residential address (P.O. boxes are not accepted)

  • Has a bank account that is located within the U.S.

*An SSN is required for creating a USD Fiat Wallet. Submitting your SSN to us will not trigger a credit check, and you are not required to input it for each deposit transaction.

How do I enable Instant Deposit?

To enable this feature, simply set up a USD Fiat Wallet by linking your bank account:

  • In the Crypto.com App, select Transfer>Fiat> Deposit> Accept New T&Cs > Link Bank Account, and enter your credentials via Plaid

Please note that your bank account name must be the same as the name that’s associated with your Crypto.com App account.

The Instant Deposit feature will be enabled upon approval. You can link up to 5 bank accounts.

Why has my request to link my bank account been declined?

Please make sure your bank account name is the same as the name that appears on your Crypto.com App KYC documents, which you submitted when registering your account.

Depositing Funds

How can I deposit funds?

After enabling Instant Deposit by linking your bank account via Plaid, in the Crypto.com App, select on Transfer > Fiat > Deposit > Link Bank Account > Deposit Now > Enter the USD deposit amount > select the source bank account > tap on Confirm Deposit.

What are the limits for Instant Deposit?

Minimum Deposit Amount

USD 20

Daily Deposit Limit

USD 50,000 or 5 times per day

Monthly Deposit Limit

USD 500,000 or 30 times per month

USD Fiat Wallet Balance Max Limit

USD 250,000

Bank Account Balance

You must have more than the deposit amount in your bank account for at least 7 business days after initiating the deposit

You can also click the Max button on the deposit screen to view the maximum amount you can deposit on that day.

What is Pending Balance?

Pending Balance is your deposited funds that have not settled yet, as it takes up to 5 business days. Crypto.com provides you with these funds after you initiate a deposit, so you can start purchasing cryptocurrencies even when they are pending.

You will not be able to withdraw or transfer your funds from Crypto.com app wallets for 7 business days (day 0 being the day you initiated the deposit) after deposit if you make a cryptocurrency purchase using the Pending Balance.

Purchasing Crypto

What can I purchase with Instant Deposit?

You can buy all the cryptocurrencies that are listed in our app.

Your Pending Balance cannot be withdrawn through these channels for 7 business days after the deposit is initiated (day 0 being the day you initiated the deposit):

  • Fiat Withdrawal

  • Crypto Wallet transfers

  • Staking in the Earn Wallet

  • Transfer to the Crypto.com Exchange

  • Top up Crypto.com Visa Card

  • CRO Staking on Crypto.com Visa Card

  • Spend via Crypto.com Pay

  • Transfer to Crypto.com Defi Wallet

  • Purchasing any Gift Cards

  • Crypto.com Supercharger

  • Other outgoing channels from Crypto.com

However, please keep in mind that if you have other funds that have been cleared/deposited with another method, you can use them on our platform. The instant deposit amount however stays available only for crypto purchases.

Example:

John has $500 USD in his fiat wallet and makes an ACH Pull deposit for another $300 USD. He will be able to use the $500 USD to its full extent, but not the $300 USD until settled.

Please note:

Crypto.com does not accept physical checks or checks from bill pay services as a payment method to purchase cryptocurrency or to transfer cash into a user's USD fiat wallet. Any such checks received by Crypto.com will be voided and destroyed.

What is Available Balance?

Available Balance is the funds in your USD Fiat Wallet that have settled, and are available to use for crypto purchases and withdrawal.

What is Pending Balance?

Pending Balance is your deposited funds that have not settled yet, as it takes up to 5 business days. Crypto.com provides you with these funds within minutes, so you can start purchasing cryptocurrencies even when they are pending.

What is Outstanding Balance?

In cases where you have used your Instant Deposit to purchase cryptocurrency, but the funds failed to settle, the amount will become an Outstanding Balance. Your Instant Deposit likely failed because of insufficient funds in your bank account. Please make sure you have more than the deposit amount in your bank account for at least 7 business days after initiating the deposit (day 1 is next business day after deposit) to prevent any errors due to insufficient funds in your bank account.

How is Outstanding Balance calculated?

Scenario 1 - Available Balance is sufficient to purchase cryptocurrency

  • You have USD 100 in your USD Fiat Wallet

  • You initiated an Instant Deposit of USD 50

  • You now have a total of USD 150 in your USD Fiat Wallet to purchase cryptocurrency

  • You purchased USD 120 worth of cryptocurrency

  • Your Instant Deposit failed to settle

  • The remaining USD 30 in your USD Fiat Wallet is Pending Balance and can no longer be used to purchase cryptocurrency

  • Your Outstanding Balance is USD 20 and you need to resolve it as soon as possible if you want to use the Instant Deposit feature again

  • If your Outstanding Balance is unresolved after 1 day, Crypto.com will proceed to liquidate your assets to repay the USD amount

Scenario 2 - Available Balance is insufficient to purchase cryptocurrency

When cryptocurrency is purchased using a failed Instant Deposit and there is insufficient balance in your crypto and fiat wallets, withdrawal is restricted from the entire USD Fiat Wallet until Outstanding Balance is resolved.

How do I know if I have an Outstanding Balance?

You can view your Outstanding Balance by going to USD Fiat Wallet > Instant Deposit > Outstanding Balance. Buying and selling cryptocurrencies will be disabled for you until the Outstanding Balance is settled.

How can I settle my Outstanding Balance?

You can resolve your Outstanding Balance by making another deposit from your bank account, using ACH Push, Wire Transfer, or by selling cryptocurrency into your USD Fiat Wallet.

If you have any questions, please email Customer Support at [email protected].

What happens if I do not settle my Outstanding Balance?

Crypto.com has the right to liquidate your assets and lock your account if your Outstanding Balance is not settled for longer than 24 hours. Crypto.com will liquidate crypto assets in the following sequence until all of your outstanding balance in USD is resolved:

  • USD Stable Coins

  • Other cryptocurrencies in descending market capitalization order

For example:

  1. Starting balance USD 100 USD fiat, USD 200 worth of USDC, USD 300 worth of CRO

  2. Instant deposit via ACH Pull initiated USD 1,500 and used to purchase USD 1,000 worth of BTC

  3. Sequence of orders:

  4. User instant deposits via ACH Pull $1,500 USD fiat

  5. User buys $1,000 BTC

  6. Deposit fails

  7. Day 0 - $500 instant deposit is recalled, $1000 outstanding

  8. Day 0 - CDC debits $100 USD Fiat from fiat wallet, $900 outstanding

  9. Day 3 - CDC sells $200 USDC into $200 USD, $700 outstanding

  10. Day 3 - CDC sells $700 BTC (because larger market cap than CRO) into $700 USD fiat on day 3, $300 BTC remaining and $0 outstanding

  11. Days 4 and onwards - If any outstanding balance remains, liquidation attempt to try again 24 hours later until fiat wallet balance return to $0.

Please reach out to Customer Support if you have any questions.

I linked my bank account and initiated a transfer, why can't I use the funds to make an immediate cryptocurrency purchase?

The feature could be disabled because you have an Outstanding Balance that you need to settle first. You can resolve your Outstanding Balance by topping up your USD Fiat Wallet using ACH Push, Wire Transfer, or selling some cryptocurrency into USD.

Another reason could be that we were unable to properly validate the transfer in order to allow an Instant Deposit. Please try again in a few moments or contact Customer Support at [email protected] for more information.

Why can’t I withdraw my funds?

You cannot withdraw the deposited funds until your Instant Deposit is settled. The withdrawal restriction is lifted after 7 business days (day 1 is next business day after deposit).

The withdrawal restrictions apply to these outgoing channels:

  • Fiat Withdrawal

  • Crypto Wallet transfers

  • Staking in the Earn Wallet

  • Transfer to the Crypto.com Exchange

  • Top up Crypto.com Visa Card

  • CRO Staking on Crypto.com Visa Card

  • Spend via Crypto.com Pay

  • Transfer to Crypto.com Defi Wallet

  • Purchasing Gift Cards

  • Other outgoing channels from Crypto.com

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