Poloniex provides eligible customers the ability to deposit USDC to their bank account via bank wire transfers. If you do not want to make a deposit via a wire transfer, consider buying BTC with Simplex instead. In order to deposit, please complete the below checklist.
Wire Deposit Checklist
✓ Make sure you have linked your bank account successfully.
✓ Ensure that your intended deposit will be within your weekly bank deposit limit.
✓ Note your unique reference (e.g. CIRXXXXXXX). This is specific to the bank account you linked. When sending your wire transfer, your unique reference must populate either the OBI (Originator to Beneficiary Instruction) field for domestic wire transfers or Tag 72 for SWIFT transfers.
✓ Use the information displayed to initiate a wire transfer. Alternatively, you can download or print the information so that you may use it later.
✗ Do NOT send a wire that will go over your weekly bank deposit limit. We will not be able to process your transaction and funds will be returned with our “rejected wire fee” deducted.
✗ Do NOT send a wire from a bank account that is associated with a PO box.
Bank Wire Deposit FAQ
Is there a minimum wire deposit amount?
No, we accept any deposit as long as it is within your limits. But please consider what your bank will charge. Here is a helpful article from NerdWallet about Wire Transfer costs.
Are there any bank wire deposit fees?
No, Poloniex does not charge any fees for bank deposits. Your bank might charge you wire transfer and/or FX (Foreign Exchange) fees. For more details on fees related to your outgoing wire transfers, please check with your bank.
When do we process incoming wire transfers?
Wire transfers are processed Monday through Friday 9:00 AM - 5:00 PM EST except on holidays observed by the Federal Reserve System.
How long will my deposit take to reflect in my Poloniex account?
We cannot initiate our process until we receive your wire transfer in our bank account. Your wire transfer will be subject to your bank’s wire transfer timelines.
Once we receive the USD in our bank account, our system will first verify the wire information against the information you have provided, and ensure that the amount is not above your weekly limit. The transaction will then be subject to review by our team. This review and tokenization process can take between 30 minutes and 2 business days.
After your first deposit has been reviewed, subsequent deposits will likely be processed and reviewed much faster.
My bank does not provide a field for the Reference ID — what can I do?
This field is essential to successful deposits. Mention to your bank that your Reference ID should go in either the OBI (Originator to Beneficiary Instruction) field for domestic wire transfers or Tag 72 for Swift transfers.
We also suggest that you print out the wire details on the Bank settings page and provide it to your bank as wire instructions.
If your bank is unable to add a memo or reference to your wire transfer, please do not send the wire.
My bank does not recognize the Silvergate SWIFT/BIC code for International USD transfers — what can I do?
The Silvergate SWIFT/BIC is necessary for international wire transfers; this code can be found along with the remaining Beneficiary Bank Information when you “Initiate a wire transfer”.
If your bank does not recognize it, please ask them to make sure their SWIFT database is up to date and provide them with the full “Incoming Wire Instructions” from our banking partner.
What do I do if I made a typo in my reference number?
If you made a typo in the reference number you sent along with your wire transfer, we will not be able to process your transfer. As a result, the wire will be returned to your account, with our rejected wire fee deducted.
The name and address on my bank account are not exactly the same as on my Poloniex account – what will happen?
When we receive an incoming bank transfer, the originating bank sends us the bank account holder name and address information. We check for name and address matching on every incoming bank transfer. If there is a mismatch, the transfer will be reviewed by our team which may introduce a delay on your deposit.
If our team determines that the names do not match, the wire will be returned to your bank account with our rejected wire fee deducted. If you believe that your account may be held up in this fashion and have additional information to provide, please contact support at firstname.lastname@example.org.
What happens if I go above my wire deposit limit?
If your wire transfer takes you above your weekly limit, your wire will be returned to your account with our rejected wire fee deducted.
Please contact us if you need higher limits.
My bank cannot make USD transfers – what FX rate will be applied?
If your bank is not able to make wire transfers in USD, you will need to make a transfer via our intermediary bank. Your transfer will then be subject to their FX rate into USD, and we will tokenize the amount of USD we ultimately received in our bank account.
Please contact us at email@example.com if you need to make a transfer via our intermediary bank.