An ACH transfer is a common way to fund your CoinZoom account from your bank account using the Automated Clearing House network. Only CoinZoom accounts in the United States can use ACH transfers.
An ACH bank transfer typically takes 3-5 business days to complete after initiating. During this time you may be able to cancel it. But once CoinZoom receives the deposit, the transaction will show as "confirmed" in your Deposit History and cannot be be reversed. Even if you see the funds immediately debited from your bank account when you initiate the transfer, the funds will not be actually transferred to your CZ account until your payment has finished moving between the banks and clears in our bank account.
You may cancel a pending ACH transfer from your account in the CoinZoom website. This must be done before the transfer has been completed, while it is pending.
Warning: There is a $100 fee to cancel, or reverse, an ACH transfer.
Cancel an ACH transfer:
- Log into trade.coinzoom.com
- Select Portfolio
- Click the Deposit button for United States Dollar (USD)
- Locate the ACH bank deposit in the Deposit History list
- If the deposit can be cancelled, there will be a Cancel button on the far right side of the deposit entry. Click Cancel.
If the Cancel button does not respond or it is greyed out, you will not be able to cancel the ACH deposit. In that case, you must reach out to your banking institution to reverse the ACH transfer.