In order to submit any type of deposit on the platform, please select “Deposit” on the top right portion of your home dashboard and select the type of asset for deposit. You will then follow the instructions given on the side panel to complete your withdrawal request.
Please initiate a payment through your bank using the Paxos deposit instructions. To find the Paxos deposit instructions, please click “Deposit” in your home dashboard:
The deposit drawer will show up where you can select USD as the asset type to pull up deposit instructions:
Common causes for USD deposit delays:
- Outdated deposit instructions: Please update bank transfer details in your remitting bank to include the most recent deposit instructions
- Missing/Incomplete Transaction Memo ID: All deposits received without your full Memo ID will need to be manually verified and credited. Please take note to include the transaction memo ID on all wire & SEN deposits.
- Incorrect Wire Details: Your may have included incorrect wire instructions that can impact delivery time and result in delayed processing. For Foreign Currency deposits, please be sure to specify the intermediary bank details (Pacific Coast Bankers' Bank) in addition to the beneficiary bank (Silvergate Bank).
- Submission Time: For both domestic and international wires, cutoff times impact when you will receive your deposit to your Paxos account
- Third Party Deposits: All third-party deposits will not be accepted & will be returned to the originating bank. We do not accept deposits from third party payment processors (i.e Transferwise).
To submit an ACH deposit, select “Deposit” on the top right portion of your home dashboard, then USD as the asset type followed by ACH as the deposit type. If you have not done so already, you will be asked to link your bank account directly to the Paxos platform. Follow the instructions provided to login to your online banking system, and link your bank to the Paxos platform. Once your bank has been linked, you are free to submit an ACH deposit request 24/7 up to your weekly limit amount.
Common issues linking bank accounts via ACH:
- Name mismatch: If the Paxos platform is unable to match your bank account name to your Paxos account name, the system will not allow you to complete your bank account link. An exception flow is coming soon!
- Institutional User: As an institutional customer, your account has access to SEN funding instead of ACH. SEN transfers are instant and can accommodate much higher volumes. Our introductory ACH limits are $500 per week and intended primarily for retail customers at this time.
For more information on how to get a SEN account please click here
Some customers have experienced issues with depositing funds after their account is successfully linked. This could be due to an authentication error between Plaid and your bank. To resolve this issue, navigate to your settings, and click “update bank account” under the linked bank accounts sections
Digital asset deposits
Sign into your account and select “Deposit.” From this function, you will be able to select the asset you wish to deposit. Paxos provides you with a deposit address to which you can send your digital assets.
BTC deposits are reflected in your account after 3 blockchain confirmations.
PAX, BUSD, ETH and PAXG deposits are reflected in your account after 12 blockchain confirmations.
Unsupported token deposit
Paxos supports PAX, BUSD, PAXG, ETH & BTC digital asset deposits only. If you have deposited a digital asset that is not supported by Paxos, there is no guarantee that Paxos will or will not be able to return your unsupported token deposit. To view the the full policy, please visit the deposit drawer of any digital asset in your home dashboard. To do this, click “Deposit” in your home dashboard, select a digital asset as the asset type, find the link to the popup in the side panel.