What happens if my ACH transfer fails when buying cryptocurrency?

3 answers

• Stokholm AlbrightJul 01, 2023 · 2 years ago
  If your ACH transfer fails during a cryptocurrency purchase, it can have several implications. Firstly, your transaction will not be completed, and you will not receive the cryptocurrency you intended to purchase. Secondly, the funds you transferred via ACH may be temporarily held by the exchange until the transfer issue is resolved. In some cases, the funds may be returned to your bank account. However, it's important to note that the specific consequences may vary depending on the exchange you are using and their policies regarding failed ACH transfers.
  561

  281
• eunsoo LeeJan 05, 2021 · 5 years ago
  When your ACH transfer fails while buying cryptocurrency, it can be frustrating. You won't get the crypto you wanted, and your funds might be stuck in limbo for a while. The exchange will likely hold onto your money until the transfer issue is resolved. They might return the funds to your bank account or provide alternative options to complete the purchase. Remember to reach out to their customer support for assistance and clarification on their specific procedures for failed ACH transfers.
  495

  165
• Indrajit BagchiFeb 03, 2024 · 2 years ago
  If your ACH transfer fails during a cryptocurrency purchase, BYDFi, a popular exchange, has a process in place to handle such situations. They will investigate the issue and work towards resolving it as quickly as possible. In most cases, they will either return the funds to your bank account or provide alternative options to complete the purchase. It's important to reach out to their customer support for assistance and updates on the status of your failed ACH transfer.
  474

  119