When you fund your Coinsquare account for the first time using Interac e-Transfer Request Money Deposit, your funds will be subject to a 24-hour holding period.
During this holding period, you will be able to trade your funds on the platform, but no withdrawals of Canadian Dollars (CAD) or cryptocurrencies will be permitted until the hold period ends. You will be able to withdraw your funds in full when the hold period automatically expires.
We are a registered MSB in Canada and therefore follow strict KYC & AML policies outlined by FINTRAC. We have implemented this withholding policy in order to be appropriately diligent and to ensure the safety of every user as well as our platform.
This is one of the measures that Coinsquare has in place to address fraud and increase the security of our platform and your funds. Security is our top priority at Coinsquare as we working to build the safest platform to buy and sell digital assets. Our security starts with the safety of our clients' funds.