How do I deposit funds using a wire transfer on Base8?
To deposit funds using a wire transfer:
Click on the "Deposit" button on the home page, or go to Account Settings and click on "Deposits & Withdrawals."
Choose “Wire”
Enter or confirm your originating bank wire details.
Once confirmed, we will display our wire instructions. Please note that your wire MUST come from the originating bank details that you provide or it will be rejected.
2. How long does it take for a wire transfer deposit to appear in my Base8 account?
Wire transfer deposits typically take 1-3 business days to appear in your Base8 account. The exact timing can vary based on your bank's processing times and the time of day the transfer was initiated.
What are the fees for wire transfer deposits and withdrawals on Base8?
Wire Transfer Deposits: Base8 does not charge a fee for incoming wire transfers, but your bank may charge a fee for sending the wire.
Wire Transfer Withdrawals: There is a $25 fee for outgoing wire transfers. This fee will be deducted from the withdrawal amount.
How do I withdraw funds using a wire transfer on Base8?
To withdraw funds using a wire transfer:
Go to the “Funding and Withdrawals” section in your profile settings.
Click “Setup Withdraw”.
Add payment method by filling out all required fields such as Full name, Fedwire Routing Number, Account Number and selecting account type.
Once you enter the fields click “Add Payment method”.
Enter the amount you wish to withdraw. Confirm the transaction and wait for the funds to be transferred to your bank account.
What is the Fedwire IMAD/OMAD number for wire transfers?
The Input/Output Message Accountability Data (IMAD/OMAD) is a unique number assigned to each FedWire payment. It is used to track wire transfers. The format is YYYYMMDD ABCDXXXX 012345. Contact your bank for assistance if you need this number.
What should I do if my wire transfer deposit or withdrawal is delayed?
If your wire transfer deposit or withdrawal is delayed:
Check the transaction status in your account activity.
Ensure that you provided the correct bank account details and routing number.
Contact your bank to verify that the transfer has been initiated or received.
If the issue persists, contact Base8 support with your transaction details, including the transaction ID and any confirmation numbers, so we can assist in resolving the delay.
These FAQs should help users understand and navigate wire transfer deposits and withdrawals on Base8. If you have any additional questions, feel free to reach out to our support team at support@base8.app.