Note: Direct deposits are temporarily paused.
Direct deposits allow you to fund your CoinZoom account directly from a paycheck or tax refund. Give your CoinZoom account information to your employer with an amount or percentage to deposit in your CoinZoom account each pay period. There is a daily limit of $15,000 on direct deposits.
Direct deposit is currently available for US customers. The first direct deposit requires your account to be funded first by another means, which you can do in any amount.
Note: The name on your direct deposit account must match your CoinZoom profile, otherwise the deposit will be rejected.
Direct deposits are similar to ACH transfers, but once the initial setup has taken place (normally a few days), there is no withdrawal hold period and there are no fees. See this article comparing different deposit methods.
The direct deposit does not have to be from an employer, though that is most common. The space on the form for the employer's name can be the employer or your banking institution. The name on the deposit must match the name on your CoinZoom account.
Follow these steps to create a form to give to your employer that will begin direct deposits:
- Choose Direct Deposit from the Deposit Methods screen.
- Enter the amount or percentage you want deposited with each paycheck.
- Electronically sign the form.
- Send the form to your employer.
Note: This process only creates a form for you to give to your employer to set up the direct deposit, it does not actually initiate the direct deposit.