ACH FAQ

What is ACH?

An ACH transfer is an electronic, bank-to-bank money transfer that’s processed through the Automated Clearing House Network. The ACH Network processes direct payments. Individuals, businesses, and organizations can use direct payments to send money. 

What is Plaid?

Plaid is a financial technology company. Plaid enables users to connect their bank accounts to allow Pionex.US to request payments that the ACH network will process. 

What are my ACH deposit limits?

Rolling Limits:

• Account history (new account): $2000 limit for any rolling 10-day period. This means that you can have up to $2000 worth of deposits at any given time and will be halted if you deposit more than your limit in the 10-day period.
• Account history (Positive history): $5,000 limit per rolling 10-day period. This means that you can have up to $5,000 worth of deposits at any given time and will be halted if you deposit more than your limit in the 10 days.
• Account history (Strong positive history): $20,000 limit per rolling 10-day period. This means that you can have up to $20,000 worth of deposits at any given time and will be halted if you deposit more than your limit in the 10 days.

These limits are subject to change based on a history of successful or failed deposits and available deposit limits.

Note: ACH deposits aren’t always credited early due to risk purposes. If that’s the case, it usually takes up to 6 business days for the funds to land in your Pionex.US account.

Single Deposit Limit:

• $2000 at a time.
• This limit is subject to change based on a history of successful or failed deposits and available deposit limits.

What are my withdrawal limits?

ACH deposits must clear your bank and our bank (4-6 business days) and then are held for another 7 business days. If there is a delay with the ACH system or technical issues, withdrawals will be available regardless of the status of ACH deposits within 14 days as long as those deposits have cleared your bank and our bank. If more than 14 days have passed and you are still unable to withdraw your funds/coins, click here for customer service assistance. A member of our support team will get back to you. We have the right to hold the funds for up to 60 days. 

Please note: In some instances, ACH deposits can be held for up to 60 days for risk reasons.

• The longer you have had your account and the more volume/trades you have accumulated, the more Pionex.US may ease these limits. 
• Withdrawals are limited to the amount not currently being held; you may also be subject to having to withdraw smaller amounts until your account is deemed a trusted account.
• You may contact us for an account review anytime if you want to raise limits or waive waiting periods on holds. However, this review is not guaranteed.

Feel free to contact us for more specific information about your account at pionex.us/support.  

Are there fees for ACH deposits?

$2.99 per ACH is the standard fee.

Why can’t I link my bank account with Plaid?

If you cannot connect your bank even though it appears in the Plaid integration, that is not something that Pionex.US can solve. Please see Trouble connecting your financial account to an app? | Plaid on why this sometimes occurs. You may need to link to another bank account or use another deposit method.

How long do ACH transfers take?

ACH deposits take 4-6 business days to clear, and due to internal risk measures, we require a 7-business-day hold after the funds clear. This means you cannot withdraw the equivalent amount of your ACH deposit for at least 14 days after initiating the deposit. 

Why does ACH deposit the funds held on the platform for 14 days?

Due to internal risk measures, we require 7 business days from when the funds clear to be able to be withdrawn. 

Can I link a bank account in someone else’s name?

No. Pionex.US users are only allowed to deposit from bank accounts in the same name as the name on their Pionex.US account.

We may request that you submit additional verification information to verify your account. Deposits may be delayed if you cannot provide us with the account verification information.

Important ACH Info

ACH deposits aren’t always credited early due to risk purposes or the 2k early credit limit (rolling) being reached. If that’s the case, it usually takes up to 6 business days for the funds to clear through the ACH network and land in your Pionex.US account. To avoid this in the future, feel free to send a wire deposit.

Please Note: ACH deposits must clear your bank and our bank (4-6 business days) and then are held for another 7 business days. If there is a delay with the ACH system or technical issues, withdrawals will be available regardless of the status on ACH deposits within 14 days as long as those deposits have cleared your bank and our bank.

If there is any sign of unauthorized activity or fraud, we have the right to hold your funds for up to 60 days.

Chargebacks and ACH Reversal Policy

Pionex.US is excited to credit an ACH deposit as soon as you make the ACH request. However, in the background, ACH transfers do not clear instantly. They may take 4-6 business days before Pionex.US is truly in control of the deposit you initiated.

In the event that there is an issue with the ACH deposit like a chargeback (insufficient funds), the funds that you were instantly credited with will never actually make it from your bank account to Pionex.US. A $10 fee may be charged in this situation.

What will that look like in my account?

If you currently hold more than $10 in USD in your account, you will see this balance decrease by the fee amount. If you have already used the instantly credited USD to buy other currencies, they will be partially sold to cover the cost of the $10 fee. We don’t allow accounts to have a negative USD balance.

My balance is negative. Why do I see this in my account?

If you see a negative balance, one or more of your bank deposits have failed. This may be due to insufficient funds in your bank account, a problem with your bank’s systems, or your bank has declined this withdrawal for another reason. We cannot resolve these situations as they are beyond our control, but you can contact your bank for an explanation. 

If you want to deposit to bring the account positive, you can contact us at pionex.us/support to resolve it.

Can I delete the ACH account?

Yes, in the drop-down box of the deposit window you can select the account and click “Delete”.