Help using RTGS Deposit

CoinSpot users can now use RTGS deposits!

CoinSpot now offers RTGS deposits to Fully Verified CoinSpot users. Below, we have highlighted details and important information when making an RTGS deposit. 

What is in this article?

• What is RTGS deposit
• How to make an RTGS deposit?
• How long does RTGS Deposit take to arrive into my account?
• What is the minimum RTGS deposit amount I can make?

What is RTGS deposit?

Real-Time Gross Settlement (RTGS) is a payment system provided by banks, enabling the instant and complete electronic settlement of funds from one place to another.

As RTGS transactions are settled at the same time that they take place, payments are not subjected to any excessive waiting periods.

How to make an RTGS deposit?

In order to complete an RTGS deposit you will be required to physically attend your bank branch. Your bank may charge you a deposit fee for making an RTGS deposit, if your bank requires any further information please feel free to contact us.

You can now use your unique Direct Deposit details to make an RTGS Deposit. 

To locate your unique Direct Deposit details when making an RTGS deposit, please follow the guide provided below.

1. On the top half of your Dashboard, select 'Deposit Funds'.

                                                  Figure 1. Help using RTGS Deposit - (Deposit Funds)

2. On the left hand side select 'Direct Deposit'. From here you will be able to locate your unique Direct Deposit details, along with further information on RTGS.

                                                  Figure 2. Help using RTGS Deposit - (Direct Deposit Details)

How long does RTGS deposit take to arrive into my account?

While times can vary, financial institutions tend to send these transfers in batches, where they will accumulate a number of deposits and send through at one time.

These are usually sent once in the morning and once in the afternoon, when lodging an RTGS payment after 4pm (AEST), your deposit will likely be received the following day.

What is the minimum RTGS deposit amount I can make?

The minimum for an RTGS deposit is $20,000. Please note that any RTGS deposits below this amount will be returned to your bank account in 2-10 business days. Public holidays and weekends are not considered business days.

If you have not received your funds back into your bank account after this designated time, please get in touch with our Support Team directly.