What is ACH?
An ACH transfer is an electronic, bank-to-bank money transfer that's processed through the Automated Clearing House Network. The ACH Network processes direct payments. Direct payments can be used by individuals, businesses and organizations to send money.
What is Plaid?
Plaid is a financial technology company that is owned by Visa. Plaid enables users to connect their bank account to allow FTX.US to request payments that will be processed by the ACH network.
What are your ACH Limits?
KYC Level 1: $5,000 limit for any rolling 10 day period. This means that at any given time, you can have $5,000 worth of deposits and will be halted if you deposit more than your limit in the 10-day period.
KYC Level 2: $30,000 limit per any rolling 10 day period. This means that at any given time, you can have $30,000 worth of deposits and will be halted if you deposit more than your limit in the 10-day period.
Single Deposit Limits
KYC Level 1: $2,999 at a time.
KYC Level 2: $5,000 at a time. You can submit multiple $5,000 deposits up to your limit.
Early Credit Limits
New account with basic or full verification: $5,000
Account that has had one successful deposit of $500 or more: $50,000
- The longer you have had your account and the more volume/trades you have accumulated, the more these limits may be eased.
- Withdrawals are limited to the amount not currently being held; you may also be subject to having to withdraw smaller amounts until your account is deemed a trusted account.
- You may contact us for an account review at any time if you want to raise any limits or waive waiting periods on holds. However, this review is not guaranteed.
Are there fees for ACH &card deposits/withdrawals?
$0.50 per ACH is the standard fee.
- If you have never successfully deposited via ACH, we will waive the fee.
- If you haven't deposited via ACH in the last week, we will wave the fee if it's over $10.
- If you have deposited via ACH in the last week, we will wave the fee if it's over $100.
When making purchases via debit or credit card, additional fees may be charged by your bank. These fees are not collected by FTX.US – they are being charged directly by the bank.
Known fees are:
Cash advance fees
Foreign transaction fees
If charged, these fees will show up as a separate line time on your credit card statement. Known banks charging additional fees are Bank of America, Citizens Bank, PNC, and US Bank.
Why can't I link my bank account with Plaid?
If you are unable to connect your bank even though it appears in the Plaid integration, that is not something that FTX.US can solve. Please see this article on why this sometimes occurs. You may need to link another bank account or use another deposit method.
How long do ACH transfers take?
ACH deposits take 5 business days to clear and due to internal risk measures, we require a 7 day hold after the funds clear. This means that you will not be able to withdraw the equivalent amount of your ACH deposit for at least 12 business days after initiating the deposit.
Why are the funds deposited by ACH held on the platform for 12 days?
Due to internal risk measures, we require 7 days from when the funds clear to be able to be withdrawn.
How long do ACH withdrawals take?
ACH withdrawals can take 3-5 business days to land in your bank account.
How do I make an ACH deposit?
Please see here for a step-by-step guide on how to deposit funds from your bank account into FTX.US.
How do I make an ACH withdrawal?
Please see here for a step-by-step guide on how to withdraw funds from your FTX.US account into your bank account.
Can I link a bank account in someone else's name?
No. FTX.US users are only allowed to deposit/withdraw from bank accounts in the same name as the name on their FTX.US account.
We may request you to submit additional verification information to verify your account. Deposits or withdrawals may be delayed if you are unable to provide us with account verification information.