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
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 > Fiat > US Dollar > Instant deposit > Add Bank account. Or, tap Accounts > Fiat Wallet > Transfer > Deposit > US Dollar > 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 > Fiat > US Dollar > Instant deposit > Add Bank account. Or, tap Accounts > Fiat Wallet > Transfer > Deposit > US Dollar > 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 |
USD Fiat Wallet Balance Maximum | up to $250,000 |
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 your deposited funds, via instant deposit, 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 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.
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:
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
*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 Fiat Wallet that have settled, and are available to use for crypto purchases and withdrawal.
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 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 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 Bank Transfer or Wire Bank Transfer. Alternatively you can also sell cryptocurrency into your USD Fiat Wallet.
If you have any questions, please contact us at chat.crypto.com.
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.
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.