Frequently Asked Questions

  • Q:What is an ACH/SEPA Transaction? What are the benefits of ACH/SEPA?

    An ACH (Automated Clearing House) and SEPA (Smart Electronic Power Alliance) transaction refers to an electronic payment which allows transfer of money from the bank account of one user to the bank account of another user over a secure digital network based on a set of protocols and procedures. Since ACH/SEPA transactions eliminate the need for cash, paper checks, wire, and credit card networks, they are often called direct payments. The ACH/SEPA system is secure, quick and dependable and these attributes has made ACH/SEPA transactions one of the most widely used ways to transfer money.

    For an ACH/SEPA transaction to work, two banking institutions must be involved – the Originating Depository Financial Institution (ODFI) and the Receiving Depository Financial Institution (RDFI).

    Basically, ACH/SEPA transactions involve both direct deposits and direct payments and can be used for consumer, government, and B2B transactions. The mechanism behind the ACH/SEPA transaction is simple. Foremost, a sender uses the ACH/SEPA network to initiate a direct payment or direct deposit. The ODFI (the bank of the sender) will send out the ACH/SEPA transaction along with other ACH/SEPA transactions of other bank account holders to the ACH/SEPA operator which is usually a clearing house or the Federal Reserve. The transaction will be processed by the ACH/SEPA operator and made available to the RDFI (the bank of the recipient). Once the transaction has been received by the recipient, the transaction is complete.

  • Q: What are the benefits of the ACH/SEPA transactions?

    The benefits of the ACH/SEPA transactions include:

    Some of the lowest transaction fees for transferring money. Are more secure due to the elimination of multiple processing points. Allow auto invoicing, payment and payment tracking which make the transactions easier. Are more convenient for both the sender and receiver. Save time due to faster processing time. Reduce human errors associated with other types of transaction methods

  • Q: How much is a customer allowed to transact on the exchange? Is there any quantity or monetary restrictions?

    Our user’s investment limit after initial account activation is set at a maximum of $10,000. However, if you would like to increase your limit, log into your account and select the “increase my limits” option. The compliance department will request the upload of additional personal documentation and then those documents have to be approved in order to raise the limit to the next level.

  • Q: How many days will it take for customers to receive their digital coin purchase? Can they sell next day?

    Your digital coin purchases are available to you upon settlement which is typically 3-4 business days, depending on the coin purchased. Once the coin has settled, it can be transferred at your instruction to any wallet you direct it to. Should you wish to sell prior to settlement, simply enter your instruction online and the position will be sold. However, you will have to wait for that transaction to settle before receiving your funds. Generally, the ACH/SEPA processes usually takes places in 3 to 4 days but may take longer depending on your financial institutions.