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, the funds will be available in your account within a few seconds.
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
How to link a bank account(s):
You will first have to link your bank account using Plaid, before being able to make an instant deposit. Plaid is an easy and secure way to link your bank account to crypto.com
Go to Deposit > Cash > USD > Instant deposit > Add Bank account. Or, tap Accounts > USD Account > Transfer > Deposit > Instant deposit > Add Bank account.
Select your bank and you will be taken to your banking portal to securely login
Once logged in you will be prompted to authorize connecting your account to crypto.com
Once completed you will be returned to the crypto.com app and be able to see your bank account linked successfully. You may link up to 5 bank accounts.
Please note that your bank account name must be the same as the name that’s associated with your Crypto.com App account.
How to make an Instant deposit?
Go to Deposit > Cash> USD> Instant deposit > Add Bank account. Or, tap Accounts > USD Account > Transfer > Deposit > Instant deposit > Add Bank account.
Select a successfully linked bank account of your choice
Enter the amount you wish to deposit
Confirm the deposit
Enter your passcode
Important Note: Once an Instant deposit has been initiated, it cannot be canceled.
What are the deposit limits?
General Limits
Minimum (all card tiers) | $20 per transaction |
Daily Maximum Transactions (24-hour rolling) | 5 per day |
Monthly Maximum Transactions (30-day rolling) | 30 per month |
Days of Withdrawal Restriction | 7 business days |
Time after Failure to Liquidate | 24 hours |
Daily and Monthly Limits per Card Tier
Daily Maximum per card tier (24-hour rolling)
Obsidian | up to $100,000 |
Icy White, Rose Gold | up to $50,000 |
Jade Green, Royal Indigo, Ruby | up to $10,000 |
Blue | up to $5,000 |
No Card | up to $3,000 |
Monthly Maximum per card tier (30-day rolling)
Obsidian | up to $150,000 |
Icy White, Rose Gold | up to $50,000 |
Jade Green, Royal Indigo, Ruby | up to $10,000 |
Blue | up to $10,000 |
No Card | up to $10,000 |
What are the different types of balances?
What is Pending Balance?
Pending balance is the funds you deposited via Instant Deposit that have not settled yet, as it takes up to seven (7) business days.
Crypto.com makes these funds available immediately so you can:
Buy cryptocurrency
Buy derivatives contracts (i.e., Strike Options and UpDown Options)
Buy stocks and ETFs
You can learn more about using Instant Deposit for derivatives trading here, and for stocks and ETF trading here.
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. This includes the following withdrawal channels:
USD 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 OnChain Wallet
Purchasing any Gift Cards
Crypto.com Supercharger
USD Limit Orders
Other outgoing channels from Crypto.com
*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).
What is available balance?
Available Balance is the funds in your USD Account that have settled, and are available to use for crypto purchases and withdrawal.
What is outstanding balance?
Outstanding balance is the amount you've used from your pending balance, but the funds failed to settle.. 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 do outstanding balances work?
How is Outstanding Balance calculated?
Scenario 1 - Available Balance is sufficient to purchase cryptocurrency
You have USD 100 in your USD Account
You initiated an Instant Deposit of USD 50
You now have a total of USD 150 in your USD Account to purchase cryptocurrency
You purchased USD 120 worth of cryptocurrency
Your Instant Deposit failed to settle
The remaining USD 30 in your USD Account 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 USD Account, withdrawal is restricted from the entire USD Account 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 Account> 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 Bank Transfer or Wire Bank Transfer. Alternatively you can also sell cryptocurrency into your USD Account.
If you have any questions, please contact us at chat.crypto.com.
What happens if I do not repay my outstanding balance?
Crypto.com has the right to liquidate your assets to repay any outstanding balance if it is not settled within 24 hours. Your account may also be locked.
If liquidation is required, your assets will be sold in the following order until the entire outstanding balance is repaid:
USD stablecoins
Other cryptocurrencies, by market capitalization (highest to lowest)
Stocks cash balance
Stock assets
For example:
A user initiated a $1,500 Instant Deposit
They purchase $1,000 of BTC and $400 of TSLA
The Instant Deposit failed to settle, and the user did not repay the outstanding balance of US $1,400 within 24 hours.
The user’s account balances are as follows:
USD Account: $50
Crypto Wallet: $200 of USDC, $1000 of BTC, $50 of CRO
Stocks Cash: $50
Stocks: $400 of TSLA
In such a scenario, the following liquidation actions would take place:
Day 0: $1500 Instant Deposit is recalled — $1,400 outstanding
Day 0: $50 in the Cash Account is immediately offset — $1,350 outstanding
Day 3: $200 of USDC is sold to $200 — $1,150 outstanding
Day 3: $1,000 of BTC is sold to $1,000 — $150 outstanding
Day 3: $50 of CRO is sold to $50 — $100 outstanding
Day 3: $50 is debited from their Stocks Cash — $50 outstanding
Day 3: $50 of TSLA is sold to $50 — $0 outstanding
Day 4 onwards: If any outstanding balance remains from additional transactions, liquidation attempts will be made until their USD Account balance returns to $0
Troubleshooting
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.
Why can’t I link more bank accounts?
You can have a maximum of 5 accounts saved. To add a new one please delete one of your existing linked bank accounts. You can delete a bank account by swiping left on it.
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.
Why is Relinking not working for me?
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 are unable to relink. You can have a maximum of 5 accounts saved.