Common Issues and Resolutions for ACH Deposits
ACH (Automated Clearing House) deposits are a convenient way to transfer funds, but users may encounter certain issues during the process. This article outlines the general rules for ACH deposits, common problems, and steps to resolve them.
General Rules for ACH Deposits
Pending Deposits: If you have a pending ACH bank transfer, you cannot initiate another ACH deposit until the pending one is completed. Once the first deposit clears, you can proceed with the next ACH deposit.
Common Issues and Their Resolutions
1. Failed Transactions Due to Timeouts
Issue: A Buy Crypto order via ACH may fail due to a timeout, which cancels the crypto purchase.
Resolution: The USD amount deposited will be returned to your account balance. You can manually convert it to your preferred cryptocurrency using the Convert flow in the app or web interface.
2. Mismatched Account Holder Names
Issue: An ACH deposit may fail if the name on the bank payment does not match the account holder’s name on your platform account.
Resolution: In such cases, the transaction is rejected and set for an automatic refund to the original funding account, as per the platform’s refund policy.
Steps to Resolve Specific Problems
Check Pending Deposits: Ensure that any previous ACH deposit has cleared before initiating a new one.
Verify Account Details: Confirm that the name on your bank account matches the name on your platform account to avoid mismatched name issues.
Retry Failed Transactions: If a Buy Crypto order fails, use the returned USD balance to manually convert to cryptocurrency via the Convert flow.
By following these guidelines, you can minimize disruptions and ensure a smooth ACH deposit experience.