The timing of a transaction may vary depending on factors such as the type of asset being transferred and the method of the transfer as well as the direction of the transaction (being sent to BlockFi versus being withdrawn from BlockFi). Please see below table to indicate the timing of transactions based on type of transfer, asset, and direction:
|
Funding Your Account (from client to BlockFi) |
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|
Type |
Timing |
Additional Information |
|
USD via ACH |
2-3 business days |
Bank transfers credit instantly and therefore are available to trade and earn crypto interest, but it generally takes 2-3 business days for the funds to be removed from your bank account. Please note that while ACH transfers are available immediately for trading, any assets purchased cannot be applied as loan collateral and cannot be used as a payment towards any active loans until the funds have settled, which can take up to (5) business days. |
|
Fiat currency via Wire |
1-3 business days |
Wire processing times vary between banking institutions and internal BlockFi processing times which can take up to 1 business day. In general expect to see your funds show up in your Wallet in 1-3 business days. If you wire a currency other than USD to BlockFi, the intervening banks may charge fees to exchange that currency to USD and fees to process the wire. BlockFi has no control over these fees. |
|
Debit Card |
Immediately |
Debit card purchases will be available immediately. |
|
Crypto: BTC |
3 Confirmations |
BTC transactions will show up in your Wallet once they receive 3 confirmations on the blockchain (the timing of this depends on network activity and the fee you use; generally ~30 minutes to 1 hour). |
|
Crypto: ETH & ERC-20 Tokens |
20 Confirmations |
All ERC-20 token transactions will show up in your Wallet once they receive 20 confirmations on the blockchain (the timing of this depends on network activity and the fee you use; generally ~30 minutes to 1 hour). |
|
Crypto: LTC |
12 Confirmations |
LTC transactions will show up in your Wallet once they receive 12 confirmations on the blockchain (the timing of this depends on network activity and the fee you use generally ~30 minutes to 1 hours). |
*Additionally, please note that when sending funds to BlockFi, BlockFi does not currently support Binance Smart Chain (BEP-20) transfers because it is a separate blockchain that is not integrated with our custodians. Please make sure not to send any assets using the Binance Smart Chain (BEP-20) to your BlockFi wallet as any funds sent this way will not be credited and your crypto will be lost.
|
Withdrawals (from BlockFi to client) |
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|
Type |
Timing |
Additional Information |
|
USD via ACH |
2-3 business days |
N/A. |
|
USD via Wire |
1 business days |
Wire processing times vary between banking institutions and internal BlockFi processing times which can take up to 1 business day. In general expect to see your funds show up in your bank account in 1-3 business days. International wire transfers may take longer and cost more in both bank fees and currency exchange fees. Domestic wires include a $20 fee and International wires include a $30 fee. BlockFi is not responsible for any fees charged by the client’s bank to receive and process the wire transfer. |
|
Crypto: BTC & LTC |
1-2 business days |
Please see here for more information: |
|
Crypto: ETH & ERC-20 Tokens |
1-2 business days |
All ERC-20 token withdrawals are processed as smart contracts. Please ensure that your receiving wallet provider supports smart contract deposits or you may experience delays or loss of funds. |
*You may make a complete or partial withdrawal of principal from your BlockFi Wallet at any time with appropriate time notice as stated above. Additionally, before a withdrawal is processed, you may be required to provide certain personally identifiable information so BlockFi can verify your identity. BlockFi initiates the withdrawal process instantly when possible, and we may require up to seven (7) days after you submit your withdrawal request to process the withdrawal, during which time crypto interest will continue to accrue. Please see Terms of Service | Interest Accounts | BlockFi for more information.