Update on AUD Deposits

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62 comments

  • Avatar
    Ripple

    Hi, I transferred an amount of money via BPAY yesterday and it isn't showing in my account. Regardless of you temporarily disabling deposits, shouldn't this deposit be showing?

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    Jspdimmick

    Same here I deposited by bpay yesterday and has not show up yet so what’s going to happen now with my money?

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    Email Mike Sheppard

    Great, let's go back to Horse and Cart - thanks to the Australian banks.  Can you provide any information the banks have disclosed about this?  You have a huge crypto fan base here in Aus who would like to be proactive particularly on social media to get this overturned.

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    Guy Skinner

    Likewise, same issue. Made a not insignificant deposit last night. Not in my bank account or in my CoinSpot account. Would prefer not to have to hold my breath until the new year on this. Would appreciate any further info you can give us as to what happens with our deposits in limbo. 
    Thanks. 

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    Philip Hatchard

    Does anyone know if this issue is affecting all other exchanges as well?  Is there any workaround?

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    Nathan Carson

    Claude - at 0900 this morning I transferred approx $100 worth of Btc to Coinspot, so I'm able to be more flexible in my trading. Is the deposit block also blocking transfers from other sites like btcmarkets? Because it wasn't a large amount and should have been mined by now.

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    Email Mike Sheppard

    @Philip - I checked Coinjar and it still seems to allow deposits.

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    Mpatel Media

    Like a few others, I have made a deposit via Bpay - Please inform me what is happening with my funds - I would appreciate if you could kindly reverse my deposit immediately so I can access that money that now seems to be in limbo. Thanks.

  • Avatar
    Ripple

    Does anybody know of any other digital wallets that accepts Australian banks? Coinspot has me very worried with this news.

     

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    Brian Dalton

    I have contacted my bank and they have reversed the deposit made. They also indicated that this is the banking sector stopping payments to crypto assets so not CoinSpot. Hopefully this gets resolved.

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    Erika Mudie

    I would also like to know about how transactions for deposits that were executed by BPay before this decisions was made would be affected.

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    Mpatel Media

    Brian, I did the same but they haven't reversed it as yet...they basically told me it could take a couple of weeks.

    Coinspot also told me Bpay is not affected but could take a week - so I'm no longer worried about my funds being left in limbo. Hope it's resolved quickly for everyone.

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    Gwehbeau

    Also did a large BPay last night that hasn't showed up in CoinSpot. Called the bank and confirmed they are blocking transfers to crypto companies. They've told me my bpay transaction has gone through from my account but may be held with bpay (they don't know if bpay is also stopping the payments). @Claude should i raise a dispute with bpay to have the funds reversed or are you expecting to receive funds that were cleared by the bank themselves? Thanks

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    Robert John Grace Ferguson

    Does anyone know if  you make a cash deposit by some means, thus bypassing Australian bank account?

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    kwhenuaroa

    Ok so if the banks are going stupid then how about offering paypal as a form of payment for coins? We can deposit into paypal that way tge banks are more restricted in their control? Of course banking is ideal but as another option for buying coins??? I deserve some BTC for this idea lol

  • Avatar
    Jasonmuir

    Is there any other aus companies we can invest in multiple crypto companies?
    A lot can happen in a week...
    Cheers

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    Jspdimmick

    Don’t u love when u get no response!!!!!!

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    Phenoy Paul

    Why can't we make cash deposits? possibly for no extra fees during this time?

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    a trader

    While I do feel sympathy for you and your business, and your clients, I have to point out that the tone of the post isnt quite correct.

    First up, this quote "safe and stable digital currency service providers instead of pushing Australian consumers underground, to potentially unsafe vendors."

    Not sure who you think your referring to here, but i would hazard a guess that im one of them. Yes, I to have been blacklisted from a few banks, but im one the few traders that can still keep the majority of my bank accounts, turn over thousands of trades, and have an impeccable record of service that is pretty hard to beat, and have been able to maintain this for many years. Way to push down the competition.

    Second, this about the regulation dont kid yourself that this will fix anything, it will only make it worse. Banks already close the accounts of regulated businesses in australia with impunity. Have a look at all the money remittance companies that have all the same issues as btc traders. Regulations will allow the bank to take your job from you and control it.

    However this of course is beyond most people cause in australia we all follow the religion of statism. control means good.

     

  • Avatar
    Roberta Marquez

    Hi

    I have a message that I can deposit up to $1000 while the restrictions are in place due to patience with the verification process.

    Can you please confirm if this means that I can use the Cash Deposit option to do this?

    Assistance would really be appreciated :)

     

    Thanks Heaps!

     

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    Geoff R

    Yes i too have the message saying I can deposit $1000 while the restrictions are in place due to patience with the verification process. Please can you confirm if this is correct and how this deposit can be made Bpay? Cash only? Poli?

    Thanks alot

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    Welldr2010

    I tried to buy coins but was unable to do so... So I think this restriction is still there.

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    Roberta Marquez

    Hi

    I have just successfully deposited $1000 using the Cash Deposit at a Newsagency.......3% fee but worth it so I can get into the action 👌

     

    Thank you Coinspot for offering an interim solution! 

     

    Cheers!

     

     

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    Nathan Norman

    I have money in my coinspot account but cant buy anything?!?! Would have made 40+%
    Thanks heaps coinspot

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    Jspdimmick

    Can u still make cash deposited and how if I’m restricted. Just read that a couple went through? Help would be appreciated

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    Roberta Marquez

    I am a bit confused as a although Support told me all deposits were blocked, I successfully made a deposit at a Newsagency this morning? 

    My guess is it will be blocked for all Customers at the moment unless you have just had your Account verified and you have a message saying that you can deposit up to $1000 dues to your patience with the verification process.....I think current Customers may be out of luck until things get sorted?

     

    Cheers

  • Avatar
    TORON .G

    Guys, beware! I deposited $295.00 through Poli and it said "An error has occurred, please try again."

    Attempted a 2nd time and it was successful however, my bank statement shows I've been charged twice (totaling $590.00) but only credited my CoinSpot account $295.00 

    With everything going on, not feeling too safe atm.

  • Avatar
    kwhenuaroa

    Hey how did u get to deposit? When i click on deposit all it does is gives me a screen of deposit history's...

  • Avatar
    Nicholas georgopoulos

    To everyone who is scared and what not shouldn't be on here simple but we are the change up to us the people to make change .

  • Avatar
    Luke Miner

    @kwhenuaroa CoinSpot can't actually implement PayPal because it's against PayPal's T&C's to use PayPal to buy virtual currency, as cool as it would be, this isn't an option :/

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