Why did my Direct Bank Transfer / EFT withdrawal fail?

Modified on: 2018-01-28 12:17:55 -0500

If your Direct Bank Transfer / EFT withdrawal has failed, the funds will automatically be returned to your QuadrigaCX account balance, typically within 7-10 business days after the expected due date. There are many reasons why this may have occurred, and unfortunately it is difficult for us to pin-point without more information.

The most common reasons are:

- The branch transit is invalid

- The account number is invalid

- The account currency does not match that of the withdrawal

- The name on the account does not match the name on your QuadrigaCX account

The most common of these is an invalid transit or account number. In Canada, all bank branches have a 5 digit branch transit, although many banks with truncate the branch transit to a shorter version for transfers within the same bank. You can find your full 5 digit branch transit on a direct deposit form from your bank, as well as on your cheques. If you arbitrary added additional 0's to comply with the 5 digit requirement, it is likely that this is the issue.

With regards to account numbers, please double-check that you have provided a valid account number.

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