Based on how your payment method was initiated, 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 on the same business day.
Paid by Wire Transfer
- Your collateral will be returned in 1-2 business 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 fully paid off, 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.