Auto-Transfers are a faster and easier way for customers to use our products. As a customer, you could set up Auto-Transfers of PAX/BUSD to an ERC20 address or Auto-Transfers of USD to your bank account without logging into your account.
USD deposit fees are waived for customers using the Auto-Transfer feature for PAX/BUSD withdrawals. USD withdrawal fees are still applicable for using the Auto-Transfer feature for USD withdrawals.
Auto-Transfer of USD
To enable Auto-Transfers of USD, you must first have a designated bank account saved on your Paxos account. When initiating a PAX/BUSD deposit from your ERC20 address, there is a toggle feature for Auto-Transfers. Enable Auto-Transfers by selecting this option and choose the bank account where Paxos should send your USD, and you will be provided with a unique deposit address. All digital asset deposits received in a unique Auto-Transfer deposit address will automatically transfer to your designated bank account.
Auto-Transfer of PAX/BUSD
To enable Auto-Transfers of PAX/BUSD, you must first have a designated ethereum address saved on your Paxos account. When initiating a wire deposit from your bank account, there is a toggle feature for Auto-Transfers. Enable Auto-Transfers by selecting this option and choose the ethereum address where Paxos should send your PAX/BUSD, and you will be provided with a unique memo ID. All USD deposits received with this memo ID will be automatically transferred to your designated ethereum address.
Disabling the Auto-Transfer Feature
To disable the auto-transfer feature, please revisit the same page used to toggle the feature on and verify that the toggle is now set to off. If the toggle is set to off, the instructions that appear below will be the non auto-transfer instructions and the feature will not be used for that deposit or transfer.