The return of loan collateral is primarily based upon the method of repayment. You will receive your collateral in the following timeframes:
Paid by crypto (PAX, USDC, GUSD or with your existing collateral):
- Your collateral will be returned within the same business day
- U.S. Clients only: Your collateral will be returned within the same business day as long as there aren’t any pending ACH payments
Paid by Wire Transfer:
- BlockFi will send the funds via wire in 1-2 days.
Paid by ACH transfer:
- Your collateral will be returned in 7-14 business days from the date you initiate the payment. ACH payments typically take 5-10 business days to clear between banks. Please note that even though ACH payoff on Scratch may be marked as "processed", BlockFi holds crypto for an additional 4 business days to account for ACH failure and bounce-backs.
Once the loan is paid in full, the collateral will be transferred to your BlockFi Wallet. From there, you can leave your assets in your Wallet or can submit a withdrawal request to transfer the assets to an external wallet. If the BlockFi Wallet is not available in your region we will confirm an external wallet address with you.