ACH Transfer

ACH Transfer, or Automated Clearing House Trasnfer, is a payment method introduced in Bisq v1.8.0. It is primarily used for domestic, low-value payments between participating financial institutions. ACH transfers are one of the two main bank transfer payment methods in the United States, the other being domestic Wire transfers.

What countries offer ACH Transfer?

ACH is only available in the United States.

What currencies are available for ACH Transfer?

ACH only supports transfers of USD.

What is the maximum trading duration for ACH Transfer?

The maximum trade time is 5 days, but most are completed within 2 business days. Financial institutions send ACH transfers in batches. Depending on when the transfer is initiated, it will be received the next business day, by the end of the current day, or in real time.

What is the maximum BTC limit for ACH Transfer?

0.125 BTC.

Is ACH Transfer a payment method that can be signed?

No, ACH accounts do not require signing.

How do I set up a ACH Transfer account?

Please note that not all banks offer ACH transfers to third parties. It's crucial to verify if your bank supports this service. Most banks allow ACH transfers to accounts you own at other institutions. However, they may ask you to confirm two micro-deposits they initiate. This process is not the same as a third-party transfer and Bisq sellers usually won't confirm these micro-deposits. Confirming micro-deposits enables your bank to send and receive money from that account, but this isn't a third-party transfer. If your bank fully supports third-party ACH transfers, they won't ask for micro-deposit verification. ACH transfers are typically provided at a low cost, so be sure to check with your bank about any fees.

How do I add ACH Transfer as a payment method in Bisq?

To add your ACH account to Bisq:

1. Head to the top menu and select Account.
2. Then, choose National Currency Accounts.
3. Click on Add new account.
4. Select ACH.
5. Fill in the necessary details.
6. If you'd like, choose to use a custom account name. This can help you manage multiple payment methods in Bisq. It will be visible only to you, like "ACH - Chase Bank - USD - Jane Doe".
7. Once done, click save new account.
8. If you have more than one ACH account you wish to add to Bisq you can create different accounts for each.

Ensure all the details are accurate when you add them. Sellers can only confirm payment if the name associated with the incoming ACH transfer matches the account name listed in Bisq.

How do I buy BTC with my ACH Transfer account?

You can buy BTC with ACH on Bisq in 2 ways:

1. Make an offer to buy BTC on the USD market.
2. Take an offer to buy BTC on the USD market.

When the offer is confirmed, Bisq will provide you with the BTC seller's ACH details for you to complete the payment. You should send the payment immediately and confirm you have done so in Bisq by clicking 'payment started'.

If you have the option to include a payment reference, please leave it blank. If your bank requires one, please just use your name that matches your bank account.

Once the BTC seller receives your payment, they will confirm in Bisq, and your security deposit and your purchased trade amount will be available in your wallet.

How do I sell BTC with my ACH Transfer account?

You can sell BTC with ACH on Bisq in 2 waysː

1. Make an offer on the USD market to sell your BTC.
2. Take an existing offer on the USD market to sell your BTC.

After the offer is confirmed, Bisq will provide the BTC Buyer with your ACH details. The Buyer should send the payment at their earliest convenience and confirm it in Bisq by clicking 'Payment Started'.

Are there any limits for me to be aware of when sending an ACH transfer

Your bank may impose limits on the amounts you can send or receive. You should check if your bank has any such limits.

Are there any fees for me to be aware of when sending an ACH transfer?

Fees charged by your bank for sending an ACH transfer can vary and it's best to check with them. Fees can also be different depending on the speed of the transfer as some banks offer expedited processing.

Generally, banks will not charge for receiving ACH transfers, but again, it's best to check with your bank since some do charge.

How does dispute resolution work with ACH transfers?

If a dispute occurs, the mediator may ask the buyer to send them information showing that they made the payment of the correct amount to the BTC Seller within the correct time frame. The mediator may also ask the seller to send them information to prove their account details are correct, or in the case of the BTC Buyer making a payment late, or of the wrong amount.

For more information see dispute resolution.