How to deposit and withdraw USD with bank accounts (USDC)

Hello,

In this wire instruction, we will show you how to:

• Add Your Bank Accounts
• Deposit Your USD
• Make a Withdrawal

Please note:

1. You must be KYC verified in order to deposit or withdraw fiat on ABCC.

2. Fiat service would only be provided to users who have used Passport for KYC, due to the requirement of bank verification. 

3. All fiat transfers are handled through a third-party OTC desk (Circle, EQI Bank, First Digital and etc) and the actual fee is charged in accordance with the relevant regulations of the third-party provider.  Actual fee can be seen on the deposit page and withdrawal page.

4. In your deposit wire memo, please must include the reference ID. Your account will not be credited if you fail to do so.

5. Fees:

*Please find the latest Fiat Handling Fee here.

6. ABCC is not responsible for delays in wire transfers due to your bank, or intermediary banks that your bank uses.

7. ABCC is not responsible for any impact this has on your bank account. You should be aware that many banks are uncomfortable sending cryptocurrency-related wire transfers.

8. We can only wire fiat to bank accounts in the name of the ABCC account owner. We can only accept wires from accounts in the name of the ABCC account owner.

9. If you are unsure of the process before depositing or withdrawing fiat for the first time, please contact us and we can work through the details.

10. You can check the progress of your deposits and withdrawals on the history page.

11. USD wire transfers may take 1-5 business days to process. In rare cases, it can take longer.

12. Please note that while wire transfers are technically supported for the countries above on Circle Payments, your account might end up being configured to only accept payments from a subset of those countries. Some countries might have capital controls in place which might in practice limit your ability to process wire transfers from / to some countries. Here is a list of supported countries for wire transfers:

Add Your Bank Accounts:

Step 1: First, you need to complete your KYC verification on ABCC Exchange.

Step 2: Login to your account and click "Assets Management" on the top right corner and then click on "Bank Accounts" to fill in your bank information.

Step 3: Under the Bank Account section click on "Add Bank Account"

Step 4: Depending on your Bank's preference, please select "SWIFT CODE" or "IBAN CODE" and fill it in. Once filled in click on "Search" and your Bank's information should appear below.

Step 5: Fill in your "Beneficiary Address" and please ensure that your Beneficiary Name is the same as the name you the name on your bank account. Upload PoA (Proof of Account) document and click on "Add Account" to finish the process. 

Please note that:

• User's Beneficiary Name can be different from the name you registered within your KYC, however please make sure it is the same name as your bank account. It must be exactly the same name as uploaded by the user in order for it to be approved. 
• Please confirm that you are the sole and exclusive owner of the bank account by upload a bank statement to verify your ownership (within 3 months). To ensure a smooth process, please upload the document in English.
• When uploading your PoA please use a first-hand captured photo. Do not use a photo of a screen and make sure your photo details are clear to read without glare

Step 6: Once your account is successfully added, please wait 2 to 3 working days until your bank account is approved by us. 

• You can always check your Bank account status here.

If your Bank account have been rejected or have been pending for too long, please contact support@abcc.zendesk.com for further assistance.

Deposit Your USD:

Step 1: Click on "Deposit" to navigate to the “Deposit USDC” menu, and select "Bank Transfer" as your deposit method. Choose your bank account and enter the deposit amount then click "Continue".

Step 2: Check the Beneficiary info. Please note, you must include your Reference ID in your wire memo or your account will not be credited.

Step 3: Upload your proof of payment.

Step 4: Tick the box and Click "Submit order" to confirm your deposit.

Step 5: After submitting your fiat deposit request, you can click "history page" to check the status.

Please contact support@abcc.zendesk.com if you have trouble using it.

Make a Withdrawal:

Step 1: Click on "Withdrawal" to navigate to the “Withdraw USDC” menu, and select "Bank Transfer" as your withdrawal method. Choose your bank account and enter the withdrawal amount then click "Withdrawal".

Step 2: Check the Banks details and click "Confirm". Next you are required to confirm your withdrawal by Google authentication and then Email authentication. Enter both of your google authentication and email authentication code in order to complete the withdrawal.

Step 3: After submitting your withdrawal request, you can go to the history page to check the status. 

Please contact support@abcc.zendesk.com if you have trouble using it.

Risk Warning:

You should be aware that cryptocurrencies are subject to high price-volatilities. You are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. ABCC reserves the right to rescind and terminate our services to users in countries and jurisdictions where relevant laws and regulations apply.