To gain access to EFT funding you first must complete your account verification process minimum to Level 5. Once finished you will want to "select" this funding method from your CAD wallet funding page and refer to these next steps:
- Submit your banking information for any Canadian bank account that allows this type of transfer on the initial request page.
- If it is the first time that you have submitted an electronic funds transfer, we will require a bit of documentation to comply with Canadian laws and our payment processing agreement. The documentation consists of ²:
- a signed PAD form, and
- a VOID cheque from the bank account you wish to use to fund your account at CoinField
- Upon submission, our Finance team will review the documentation, and if all is adequate, we will submit the information for processing with our payment processor.
- Approximately 24-48 hours after your request is submitted, the funds are withdrawn from your bank account.
- It then takes another 1-3 business days for the banking system to confirm with us that your funds had successfully debited from your account. When this occurs, the funds will be made available in your CoinField account under the corresponding fiat currency wallet chosen.
- Subsequent funding using this method will not require you to re-submit the documentation, creating a relatively quick and hassle-free process to fund your CoinField account, without ever having to visit your financial institution a second time.
¹ Be advised that any third party extra fees charged is not under CoinField responsibility, as we have no control over different Banks and Financial Institutions
² Funds must be sent from the same account holder name that you provided for Coinfield, which must also match your ID. According to our policies any third-parties transactions are not allowed, and if the client attempt to do so, the same is at risk of being rejected.