Why hasn't my e-Transfer been deposited yet?

  • Updated

What to do if your e-Transfer has not been deposited within our listed time frames

 

Note: Please ensure that you have checked your email to see if the Bitbuy Funding team has contacted you regarding your pending e-Transfer. This email will only come from etransfers@bitbuy.ca

 

1. Your e-Transfer has been put on hold by your bank and needs to be released

This is the most common reason for a delay in your e-Transfer being deposited. When an e-Transfer has been put on hold, it will look like your e-Transfer has been sent and the money will be debited from your bank account (your money is safe).

e-Transfers can be held by your bank for several different reasons:

  • The most common reason is sending an e-Transfer to a newly added recipient
  • This can happen with any newly added recipient and is unrelated to cryptocurrency or Bitbuy
  • After your e-Transfer has been released, you should not run into this issue with us again

What to do if your e-Transfer has been put on hold 

Call your bank to release your e-Transfer

To have your e-Transfer released, simply call your bank and tell them that you authorize the e-Transfer to be sent to the intended recipient. 

  • This can only be resolved by your bank, not Interac
  • If they claim that this is an issue on our bank's side, please tell them that you have spoken to us and can confirm that it must be released by the sending bank
  • You do not need to go into your bank branch to have your e-Transfer released, this can always be resolved through your bank's phone support

2. Your e-Transfer was sent with incorrect details. 

If your e-Transfer met any of the below criteria, you will be notified by our funding team via email

  • Your e-Transfer was received with a name that did not match the name of the Bitbuy account holder: e-Transfers received in the name of a spouse, partner, friend, nickname, etc. will not be accepted. Important: If you are sending an e-Transfer from a joint bank account, please ensure that the sender's name matches the name of the Bitbuy account holder. 
  • Your e-Transfer was received from a business bank account, but you have a personal Bitbuy account: A registered Bitbuy business account is required to send funds from a business bank account.
  • Your e-Transfer was received, but your security question and/or answer did not match our records: The security question and security answer we provide are required and must be entered exactly as displayed within your Bitbuy account.

In this situation, you will be able to cancel the e-Transfer from within your online banking platform and resend it using the correct information. For an in-depth breakdown on how you can fund your Bitbuy account using e-Transfer, please click here.

 

If you are still having issues after following the steps above, get in touch with us and a member of our team will assist you further.

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