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 several 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 (9MST-17MST), 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.
Important Note: Once an ACH Pull deposit has been initiated, it cannot be canceled.
What are the limits for Instant Deposit?
Minimum (all card tiers) | USD | $20 |
Daily Maximum Transactions (24-hour rolling) | Deposits | 5 per day |
Daily Maximum per card tier (24-hour rolling) | Obsidian | up to $100,000 |
| Icy White | up to $50,000 |
| Rose Gold | up to $50,000 |
| Jade Green | up to $10,000 |
| Royal Indigo | up to $10,000 |
| Ruby | up to $10,000 |
| Blue | up to $5,000 |
| No card | up to $3,000 |
Monthly Maximum Transactions (30-day rolling) | Deposits | 30 per month |
Monthly Maximum per card tier (30-day rolling) | Obsidian | up to $150,000 |
| Icy White | up to $50,000 |
| Rose Gold | up to $50,000 |
| Jade Green | up to $10,000 |
| Royal Indigo | up to $10,000 |
| Ruby | up to $10,000 |
| Blue | up to $10,000 |
| No card | up to $10,000 |
USD Fiat Wallet Balance Maximum | All card tiers | up to $250,000 |
Days of Withdrawal Restriction | All card tiers | 7 business days |
Time after Failure to Liquidate | All card tiers | 24 hours |
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 7 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 purchase all cryptocurrencies listed in the Crypto.com App with Instant Deposit, and fund Derivatives contracts as well. These include Strike and UpDown Options. For more information on using Instant Deposit to trade Derivatives, please refer to the FAQ here.
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
Lockup in the Earn Wallet
Transfer to the Crypto.com Exchange
Top up Crypto.com Visa Card
Cardholder CRO Stake or CRO Lockup on Crypto.com Visa Card
Spend via Crypto.com Pay
Transfer to Crypto.com Defi Wallet
Purchasing any Gift Cards
Crypto.com Supercharger
Fiat Target Price orders
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 7 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 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:
Starting balance USD 100 USD fiat, USD 200 worth of USDC, USD 300 worth of CRO
Instant deposit via ACH Pull initiated USD 1,500 and used to purchase USD 1,000 worth of BTC
Sequence of orders:
User instant deposits via ACH Pull $1,500 USD fiat
User buys $1,000 BTC
Deposit fails
Day 0 - $500 instant deposit is recalled, $1000 outstanding
Day 0 - CDC debits $100 USD Fiat from fiat wallet, $900 outstanding
Day 3 - CDC sells $200 USDC into $200 USD, $700 outstanding
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
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
Lockup in the Earn Wallet
Transfer to the Crypto.com Exchange
Top up Crypto.com Visa Card
Cardholder CRO Stake or CRO Lockup 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
I previously linked my bank account successfully. Why did the link expire?
There can be many reasons why a link could expire. Some examples would include the bank revoking the link due to a time limit, e.g. 90 days, user revoking the access from their banking portal or changing the password to their banking portal etc.
To relink, press the Relink button and please make sure that the bank account you choose is the same one that you had originally linked with.
I am having trouble with the Relink button. What can I do now?
If you have trouble with the Relink button, it might be because you are selecting a different account compared to the original one.
If you continue to have issues, please either use the Add Bank Account button to add a bank account. You can also use the “Edit” button on the right side to delete previously linked bank accounts that have expired and unable to relink. You can have a maximum of 5 accounts saved.
Joint Bank Accounts
If you are attempting to link a joint bank account following the steps in this FAQ and run into issues when trying to use the account, you may be required to provide additional verification information. Please reach out to our Customer Support team to assist.