On the Coinsquare platform, the onus is on the user to enter correct and valid banking information in order to successfully withdraw funds to their bank account. We understand that sometimes mistakes happen, and banking information may be entered incorrectly.
What Happens to the Funds?
When a withdrawal fails because of incorrect banking information, the funds usually bounce back to Coinsquare's bank account. Our Funding Team will then need to manually credit the funds back to the corresponding Coinsquare account.
Please note the bounce back of funds may take up to 5 business days.
Recommended Next Steps
If your withdrawal has bounced, please ensure that you delete your banking details to prevent future failed withdrawals.
Re-submit a withdrawal request with the correct banking details. Please note withdrawals can take up to 3 business days to reach your bank account.
If your funds have not returned to your bank account after 5 business days, please reach out to our Support Team.
How To Delete Incorrect Bank Information
To delete your incorrect banking details from your profile, please follow the steps below:
1. Login to your account through desktop and not the mobile app.
2. Click the 'Withdraw' tab on the top
3. Make sure 'CAD' is selected from the left side menu and select 'Direct Bank Deposit' from the drop down menu.
4. Click the blue 'add bank account' button. Here you will see your existing banking details and an option to delete and add new details.