Question 1

How to enable 2FA?

Accepted Answer

Two Factor Authentication, or 2FA, is a security feature that provides an extra layer of protection to your online account. As the name implies, this means that there are two steps required to authenticate you:

First step is logging into your account with your email and password.
Second step is providing the one-time code that is generated by Google Authenticator.

To enable 2FA on your account, please follow the 3 easy steps below:

Download Google Authenticator Application (iOS &ndash; Android)
Once your account is registered and activated, go to Security to enable 2FA and scan the QR code to link Google Authenticator.
Enter the 6-digit code provided and use the unique Authenticator code (OTP) when logging into MultiBank io in future.

We recommend backing up your google authenticator application on anther device to be able to restore your account access in case you lose your mobile.
If the above does not help, please contact us by submitting a form here.

Question 2

Why is my account registration and/or verification rejected?

Accepted Answer

Registered accounts from supported jurisdictions are required to comply with the Terms of Use and Anti-Money Laundering (AML) policy. Please review our Terms and Conditions page for more information.
As per our AML policy, some applicants may not be approved for certain services provided by MultiBank io. Please visit this article for further reference: Unsupported Countries
For further questions, please submit a request via Contact Us page.

Question 3

How do I contact support?

Accepted Answer

Frequently Asked Question (FAQ)The quickest way to find answers to your questions is by searching in our FAQ&rsquo;s for an article related to your inquiry.
Customer Support request via &lsquo;Contact Us&rsquo; pageIf you are unable to find the answer you are looking for in our FAQ articles, our team of specialists can be reached by completing a &rsquo;Contact Us&rsquo; form. This will create a support ticket to help assist on your queries. 
ChatbotAccess to 24/7 multi-lingual chatbot and human agents ready to assist.
It's our priority to help you make the most of your Multibank.io's experience.

Question 4

What is Fiat?

Accepted Answer

Fiat is the currency that you carry around in your wallet and in your bank account. It is United States Dollar (USD) or Great British Pound (GBP) or Honk Kong Dollar (HKD) &ndash; you get the idea.
When we refer to Fiat deposits or withdrawals, that means that you can deposit a currency such as USD into our platform, trade and then withdraw USD to your bank account.  
In more crypto terms, MultiBank io, offers a Fiat on-ramp (deposit) and off-ramp (withdrawal). This is a fantastic feature that is not offered by many other exchanges.
In more technical terms, Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.
Read More:
What FIAT is currently supported?
How to withdraw FIAT to a bank account?

Question 5

Unable to Receive Email

Accepted Answer

Please try these steps and ensure the emails are not being blocked by your email service provider:

Check your Spam / Junk folder
Whitelist MultiBank io email address

If you&rsquo;ve tried both of these steps and you are still not receiving emails from MultiBank io, please contact customer support

Question 6

What documents do I need for identity verification?

Accepted Answer

Upon successful registration an account will be created allowing you access to deposit & trade Crypto.  However, to gain access to deposit & withdraw Fiat, an account must complete the identification procedures for the purpose of Anti-Money Laundering and Counter Terrorism Financing laws. The checklist below contains the information we require and further details may be requested to verify your identity.
Individual (KYC)
To complete KYC verification, you must provide one of the following primary documents:

Passport
Drivers Licence
National Identity card

The primary document must be:

Valid and legible 
A full coloured copy, if providing your Passport
A coloured copy of the front and back, if providing your Driver&rsquo;s Licence or National Identity Card

Using a primary document, auto Compliance check will attempt to verify both identity & residential address.  If successful account will have a fully verified status to access deposit, trade & withdraw both Fiat & Crypto.  However, if only the identity was successfully verified, account will have access to deposit and trade in Fiat & Crypto, however can only withdraw in Crypto.  To allow access to Fiat withdrawal, you must provide one of the following secondary documents:

Bank Letter 
Bank Statement 
Government Issued Document 
Utility Bill (electricity, gas, water or landline phone bill)

The secondary document must:

Have an issue date within the last 3 months. We do not accept older documents. 
Be a full document with any sensitive information blanked out. 
Clearly display your full name and current residential address. It is important to note that PO Boxes will not be accepted as a residential address.

Corporate (KYB)
Required Company Documents:

Certification of registration/incorporation  
Company extract/articles of association 
Company proof of address document:

Such as a bank letter, bank statement, government issued document or utility bill (electricity, gas, water or landline phone bill)

Must have an issue date within the last 3 months. We do not accept older documents. 
Must be a full document with any sensitive information blanked out. 
Must clearly display the company name and current principal place of business address. It is important to note that PO Boxes will not be accepted as a company address.

Required Beneficial Owner* Documents

Primary document for the beneficial owner/s as per the Individual Client Verification Checklist 
Secondary document for the beneficial owner/s as per the Individual Client Verification Checklist

Note: Beneficial owner refers to any individual who owns 25% or more of the company shares.  We may require additional information/documents depending upon the nature of your business.

Question 7

Fiat Supported

Accepted Answer

We currently support United States Dollar (USD) and Euro (EUR). Stay tuned to our Announcements page for more updates on fiat that will be supported in the future.

Question 8

What is Identity Verification / KYC?

Accepted Answer

KYC is a verification process run by our compliance/legal team and stands for "Know Your Client". In Multibank io, you are required to complete our compliance check to allow withdrawal or access Fiat in the platform.
The Account Verification process is extremely simple at MultiBank io:

Simply create your account by submitting your name, email, password, phone number, and country of residence, as well as agree to our Terms and Conditions, click here to create an account on our platform.
Once you have registered your account and have logged in, go to Identity Verification to begin the KYC process.  Follow the prompts to fill-in the required information.  
On this page you will be required to provide a Valid Proof of ID and Proof of Address (optional).  To become a verified client that can trade on MultiBank io, please ensure you submit appropriate verification (KYC) documentation:
Notes about KYC and how it is related to what you can trade:

If you only submit your Proof of ID (without an embedded address) and pass that verification, you will be able to deposit and trade in Fiat & Crypto, however can only withdraw in Crypto.
If you submit your proof of ID (with an embedded address) or both proof of ID & proof of address and pass that verification, you will be able to deposit, trade and withdraw Crypto and Fiat.

Note:MultiBank io does not offer our services to nationals of the USA and Japan.MultiBank io does not offer our leveraged products to clients residing in Australia.MultiBank io does not offer our services to applicants residing in the USA, UAE, Japan, and OFAC Sanctioned countries.

Question 9

Unsupported Countries

Accepted Answer

MultiBank io does not offer our services to nationals of the USA and Japan.MultiBank io does not offer our leveraged products to clients residing in Australia.MultiBank io does not offer our services to applicants residing in the USA, UAE, Japan, and OFAC Sanctioned countries.

Question 10

How long does verification / KYC take?

Accepted Answer

MultiBank io uses KYC technology that runs checks in real-time, which makes our verification process fast. Once you submit your documents, we will inform you of the outcome within minutes.  You will be able to track the status of your verification on the Identity verification page and you will be informed once the process has been finalized and you can trade.In case the initial verification is not successful, it will be manually verified by Compliance & further KYC documents might be requested from you if necessary.

Question 11

What are your business hours?

Accepted Answer

MultiBank io operates 24 hours a day, 7 days a week, 365 days a year. We have global customer support coverage, meaning you&rsquo;ll never have to wait too long if you need help.

Question 12

Whitelisting emails from Multibank.io

Accepted Answer

Few providers occasionally send our emails to spam or other folders making it challenging to access our automated emails. In this article we&rsquo;ll cover how to whitelist our email addresses using popular providers to ensure you&rsquo;ll receive them.
The most common email addresses associated with our platform are:&bull;    no-reply@multibank.io&bull;    support@multibank.io&bull;    treasury@multibank.io&bull;    trade@multibank.io&bull;    transactions@multibank.io&bull;    spotmargin@multibank.io&bull;    futuresmargin@multibank.io&bull;    contactus@multibank.io&bull;    marketing@multibank.io
Whitelist instructions for popular email clients:Outlook.com:1.    On the main page once you&rsquo;ve logged in click the Gear icon in the upper right hand corner then               select View all Outlook settings.2.    In the Settings menu, select Email and finally Junk Email. 3.    Next add no-reply@multibank.io to the safe senders and domains list, this address handles most             of the automated emails we send such as withdrawal addresses and account security emails. You               can find a list of all our email addresses at the top of this article.
Gmail:1.    Once you&rsquo;ve logged into your google mail account on the main page click the gear in the upper               right then select See all settings.2.    Once at this settings menu choose Filters and Block Addresses from the tabs along the top.3.    Select Create a new filter and in the From field enter no-reply@multibank.io.4.    Click Create Filter, then check Never send it to Spam and finally Create filter.
Yahoo:1.    After signing into Yahoo mail select Settings in the top right and then More Settings.2.    Next choose Filters, Add new filters, enter a name for the filter.3.    Select From, then contains from the drop down menu. 4.    Enter no-reply@multibank.io then choose a folder to move our emails to, inbox would ensure it&rsquo;s             delivered to the most visible mail folder.
Some providers have more frequent delivery issues than others. If the delivery of MultiBank io emails is inconsistent or frequently delayed we recommend using Gmail. They have proved to be the most consistent provider, have an easy to use whitelist feature and allows app based (or better) two factor authentication.

Question 13

How can I verify my source of funds?

Accepted Answer

In some circumstances we may need to verify your Source of Funds, we will do our best to make the verification process as quick and easy as possible.
Understanding the source of our users' funds is important for a number of reasons:

To verify that the transactions made were actually completed by you.
To protect our users and their funds from fraud, or from being linked to illegal activities on best effort basis.
To comply with the relevant laws and regulations that allow us to operate as a financial company.

You may upload one of the following documents as your Source of Funds (please make sure that your name, issue date, and all document information are clearly visible):

Salary: If you paid for your purchase using your salary, you&rsquo;ll need to send us copies of your payslips from the previous 3 months or a tax statement.
Savings: If you paid for your purchase using your savings, we need to know how you earned this money. Please upload a bank statement showing the current balance of your savings account, and relevant documents showing the source of your savings.
Sale of property: If you&rsquo;ve sold a property and put some or all of the proceeds towards your purchases on Multibank io, you'll need to send us a copy of the sale agreement for the property or a signed letter from the lawyer handling the sale of the property; a bank statement showing the proceeds of the sale being credited to your bank account, and a statement showing the funds being transferred to your bank account.
Cryptocurrency: If you paid for your purchase using proceeds from cryptocurrency, we need to know how you earned the money from your cryptocurrency investments. Please provide us with the relevant documents and statements showing your current cryptocurrency balance, and any deposits/trades/withdrawals from the last 3 months.
Loan: If you paid for your purchase using a loan - please upload an executed copy of the loan agreement and a bank statement showing the received funds along with your current balance.
Inheritance: If you paid for your purchase using inherited wealth - please upload the grant of probate, the inheritance will, and a bank statement showing the received funds, along with your current balance.

Please note that by accepting our Terms & Conditions you have agreed to supply all necessary information about your source of funds.

Question 14

Supported Cryptocurrencies

Accepted Answer

Updated: 25 May 2022
Multibank io supports the following cryptocurrencies:

AAVE
Aave

ADA
Cardano

BAT
Basic Attention Token

BCH
Bitcoin Cash

BTC
Bitcoin

BTG
Bitcoin Gold

CHZ
Chiliz

COMP
Compound

DAI
Dai

DOGE
Doge Coin

ETH
Ethereum

FTT
FTX Token

GRT
The Graph

LINK
Chainlink

LTC
Litecoin

MATIC
Polygon

MKR
Maker

SHIB
Shiba Inu

SNX
Synthetix

SOL
Solana

UNI
Uniswap

USDC
USD coin

USDT
Tether

WBTC
Wrapped Bictoin

XLM
Stellar

XRP 
Ripple

YFI
Yearn Finance

ZEC
ZCash

We are making every effort to research and list more coins as we go. 
Stay tuned to our Announcements page for notifications on listings. Also, follow us on social media for the most up to date information.

Question 15

How do I link a bank account?

Accepted Answer

Bank Accounts are not physically or virtually linked to MultiBank io, rather a deposit will be made directly from your bank account to MEX Digital&rsquo;s bank account, using the provided Bank Transfer Details. 
To request Fiat withdrawal, bank details are required to be submitted.To add Bank Account:

Login to MultiBank io platform & go to Wallet.
 Select Bank Account, click Add Bank Account & fill-in the required information.
 Review the details & Request OTP to complete the process, you will receive an email notification &   be able to deposit Fiat currency if verification status permits.

Question 16

How to check account verification status?

Accepted Answer

In MultiBank io, all clients are required to complete a KYC check to permit withdrawal or gain access to Fiat on our platform.
Your verification status can be viewed by logging onto the MultiBank io platform and selecting the Identity Verification page.  Once required documents are submitted through the Identity Verification Page, you will receive one of the following verification statuses.
UnverifiedYou have registered an account but have not been KYC verified. You can deposit & trade Crypto only.  Proceed with KYC to elevate access.
Pending VerificationYou completed KYC but result is pending for compliance review & approval.  However, your account can still deposit & trade Crypto only.
Document VerifiedOnly your identity document has been verified.  Your account can deposit & trade both Fiat & Crypto, however, can only withdraw in Crypto.  To access Fiat withdrawal, please submit a valid proof of address document through the platform via Identity Verification page.
Document and Residency VerifiedYour account is fully verified which allows to deposit, trade, & withdraw both Crypto & Fiat.
Document and Residency FailedThe submitted identity documents are insufficient due to numerous possible reasons (such as legibility, etc.).  Please submit an alternate identity & proof of address document to customer support.  However, your account can still deposit & trade Crypto only.
Residency PendingThe submitted proof of address document is pending manual compliance verification review.  Your account can still deposit & trade both Fiat & Crypto, however, can only withdraw in Crypto.
Residency FailedThe manual address verification failed.  Please submit a new valid proof of address document through the platform via Identity Verification page.  Your account can still deposit & trade both Fiat & Crypto, however, can only withdraw in Crypto.

Question 17

How to add a nominated bank account?

Accepted Answer

Information on bank account details are mandatory to allow fully verified users to request a Fiat withdrawal, providing user's corresponding bank details.  Bank Account Holder&rsquo;s name should match with user&rsquo;s MultiBank.io account name.  It is your sole responsibility to review & validate the details prior submitting. Multibank.io is not liable for any loss of funds due to incorrect bank information being provided.
What information is required when adding a new bank account?
Our Bank providers each have their own specific requirements for what is needed to process a fiat withdrawal. Below is a summary of the various input fields you may encounter:
Account Holder&rsquo;s Name - must match the legal name on your bank account and your MultiBank io account.
Account Number - is your unique bank account number.
IBAN - is your unique bank account number, presented in an international format used by certain countries.
SWIFT Code - are often used interchangeably. All variations are a unique code to identify your bank or financial institution.
Routing Number - is a 9-digit code used to identify where your bank account was opened. It may also be known as an RTN, an ABA routing number, or a routing transit number. Please consult your bank to confirm.
BSB Code - stands for Bank-State-Branch, is a six-digit number that identifies banks and branches across Australia.
Sort Code - are 6-digit number domestic bank codes used to route money transfers between financial institutions particularly used by British & Irish Banks.
Bank Name - is the name of your bank or financial institution.
Bank Address - is the physical address of your bank&rsquo;s branch, including the country.

Question 18

What if my camera is not working during verification process?

Accepted Answer

Using a camera is an option to complete the ID verification process.
The easiest and quickest solution will be to use another mobile device that has a camera, this can be done by scanning the QR code.
If for some reason your web or mobile camera wasn't switched on automatically or it is simply not working, here is what you can do to get it going:&bull;    Mac (iOS): Open the menu > System Preferences > Security & Privacy > Privacy > Camera. Select the checkbox next to an app to allow it to access your camera.&bull;    Windows: Open the menu > Settings > Privacy > Camera, and then turn on "Let apps use my camera".&bull;    iPhone: Open the menu > Settings > App Name > Enable the Camera.&bull;    Android: Open the menu > Settings > Applications > Application Manager > App Name > Enable the Camera.
If you get a "No camera found/ready to use" error, please, make sure that:1.    The camera is not currently being used by another application.2.    In the browser settings, there is permission to use the camera.3.    Your Internet connection is working.After checking the browser permission to use the camera, please reset the browser. If it still doesn't work, try to reset the device.
Alternatively, you can upload documents that already exist in digital form by selecting &ldquo;Upload File&rdquo;.
If there are any issues, please contact customer support for assistance.

Question 19

Registration complete but I cannot deposit Fiat?

Accepted Answer

Once you have created an account, you will be able to login and access the MultiBank io platform. This means that you still need to complete our KYC process first to permit trading.
To become a verified client that can trade on MultiBank io, please ensure you submit appropriate verification (KYC) documentation:

Proceed to 'Identity Verification&rsquo; to begin the KYC verification process. Follow the prompts to fill-in the required information.
On this page you will be required to provide a Valid Proof of ID and Proof of Address (optional). If you have any issues of the required documents, please contact our Customer Support.

Notes about KYC and how it is related to what you can trade:
If you only submit your Proof of ID (without an embedded address) and pass that verification, you will be able to deposit and trade in Fiat & Crypto.
If you submit your proof of ID (with an embedded address) or both proof of ID & proof of address and pass that verification, you will be able to deposit, trade and withdraw Crypto and Fiat.
 
At MultiBank.IO, we strive to provide access to users worldwide. However, in order to adhere to our Client Agreements, and compliance requirements, our services are currently unavailable in certain scenarios. 
MultiBank.IO does not offer our services to nationals of the USA. However, we do provide our services to Japanese nationals who are residing outside of Japan.MultiBank.IO does not offer our leveraged products to clients residing in Australia.MultiBank.IO does not offer our services to applicants residing in the USA, Japan, and OFAC Sanctioned countries.
Our commitment to transparency and compliance guides our decision to limit services in these regions. Rest assured, we continually evaluate and update our policies to expand our reach responsibly.
Thank you for your understanding and continued support.

Question 20

How to Create an Account (Sign-Up)

Accepted Answer

Creating an account requires you to submit your name, email address, password, phone number & country of residence. This will give you access to your account. However, as a regulated exchange, we are mandated to verify your identity before we can upgrade your access & allow you to Trade, Withdraw / Deposit Fiat & Crypto.    Please ensure you submit appropriate KYC verification documentation as per the instructions below.
Step One:Please register to begin creating an account & submit your email address, phone number, and password, as well as agree to our Terms and Conditions.
Step two:Provide your country of residence and mobile phone number to request for a One Time Password (OTP).  A text message will be sent to your phone with OTP for verification. Enter OTP code to complete registration then you will be able to login to Multibank io.
Step Three:Verify your email by clicking the link that you got in your inbox to activate the account and start trading.  
Note: At this point, account functionality such as Crypto & Fiat Deposits / Withdrawals and Trading will be unavailable. 
To elevate your access to Trade, Withdraw / Deposit Fiat & Crypto, you will need to go through our KYC process.  Please ensure to submit appropriate KYC verification documentation as per instructions below:

Proceed to 'Identity Verification&rsquo; to begin KYC process.
Follow the prompts to fill-in required details.  On this stage you will be required to provide a Valid Proof of ID and Proof of Address (optional).

If you have any issues of the required documents, please contact our Customer Support. 
Notes about KYC and how it is related to what you can trade:

If you only submit your Proof of ID (without an embedded address) and pass that verification, you will be able to deposit and trade in Fiat & Crypto, however can only withdraw in Crypto.
If you submit your proof of ID (with an embedded address) or both proof of ID & proof of address and pass that verification, you will be able to deposit, trade and withdraw Crypto and Fiat.

Question 21

How do I delete my open orders?

Accepted Answer

All unfilled and open orders that are still waiting to be executed can be deleted via Open Orders tab.

Login to your Multibank io account
Go to &ldquo;Orders&rdquo; tab & select &ldquo;Open Orders&rdquo;.
Select the specific order you want to cancel. Under &ldquo;Action&rdquo;, click &ldquo;Cancel&rdquo; to permanently delete.
Deleted order will be removed from &ldquo;Open Orders&rdquo; tab and order status changed to cancelled in &ldquo;Order History&rdquo;.

Question 22

Why other exchanges have more listed coins/tokens than at Multibank io platform?

Accepted Answer

For every token that we list at Multibank io, we ensure that we do a thorough due diligence and only list coins/tokens that we believe will add value to members trading on our platform.
For each pair added, we make sure proper liquidity is provided and a robust trading environment.  For that reason, we can't promise that every popular coin/token will be available on Multibank io platform.
For a list of all supported tokens, please refer to the app or website.

Question 23

How to modify an existing order?

Accepted Answer

Unfortunately, the platform doesn&rsquo;t allow you to modify an open order.  If the price or volume have not been matched or would like to expedite your order, you can either

Cancel the order and submit a new order with a more competitive price or
Alternatively leave the order open and wait for the bid/ask price or volume to be reached.

For a quick settlement, you may also consider using a market order.

Question 24

What is Slippage?

Accepted Answer

Slippage is a term best described when a trader completes an order that is larger than the amount of buyers/sellers on the other side of the trade.
When placing an order, it's important to realise that for you to purchase a cryptocurrency, there needs to be someone selling on the other side of the trade. 
To understand this we first need to define the Bid-Ask Spread&bull;    The Bid Price represents the maximum price that a buyer is willing to pay for an asset. &bull;    The Ask Price represents the minimum price that a seller is willing to take for that same asset. &bull;    The difference between Bid and Ask, is the spread. Spread, is a key indicator of the Liquidity of the asset.
Though spreads are always changing, Cryptocurrencies with the most market participants are subject to Lower Spreads, and inversely cryptocurrencies with less market participants are prone to Higher Spreads.
How to Avoid SlippageLimit Orders can be used as a way to reduce the impact slippage can have on your investments. Unfortunately given the volatility of some crypto markets, slippage is something that is unavoidable. And should be considered when trading assets with a larger spread.

Question 25

Why price on buy/sell order was executed differently from what was shown at the time of placing the order?

Accepted Answer

On Multibank io platform, we are not the counterparty to your trade. This means that we do not sell you cryptocurrency or buy the cryptocurrency from you. All the platform does is make the entire process of buying and selling between individuals as simple as possible. 
Therefore, at the time of taking your order, the platform can only show you the most recent rate at which a successful transaction occurred. Once your order is placed, the price may have increased or decreased. This is reflected in the price difference between displayed rate and order confirmation rate.

Question 26

What is Convert feature in Multibank io?

Accepted Answer

A Convert option is a feature that allows a trader to convert one cryptocurrency for another.  This is useful particularly for traders who want an immediate execution.
Let&rsquo;s say you need to exchange your USD for MBG. With a convert option, you can simply do this in few clicks at Multibank io platform.

Login to your Multibank io account
Go to &ldquo;Trade&rdquo; and select &ldquo;Convert&rdquo;
Select the asset you need to swap. (eg, From: &ldquo;USD&rdquo; and To: &ldquo;MBG&rdquo;, with MBG being the destination currency)

Toggle option is available to reverse the selection if needed (MBG to USD)

Manually enter the amount to be converted or select a desired percentage of the balance you want to convert using the sliding bar.
Press &ldquo;Buy&rdquo; to execute and convert.

Question 27

What is a Panic Sell and how orders are executed?

Accepted Answer

Panic selling is the act of selling an asset in a rapid and often irrational manner due to fear or uncertainty about its future value. This can lead to sudden and significant drop in the asset&rsquo;s price and can trigger a chain reaction of selling as other investors follow suit.
Panic selling can be caused by a variety of factors, including sudden market downturns, negative news about the asset or the market, or rumours and speculation. In uncertain market conditions, investors may become anxious about the potential for further losses and decide to sell their assets quickly.
At Multibank io we cater this option to our traders when necessary to sell a particular asset or all assets with immediate effect.
Please follow these steps to execute panic sell:

Login to your Multibank io account
Go to &ldquo;Trade&rdquo; and select &ldquo;Panic Sell&rdquo;
A small window will appear with all your assets displayed.

Select the asset(s) you need to sell and
Enter the allocation amount or select the asset balance percentage you want to sell using the sliding bar.

Select the Fiat currency to receive funds.
Press &ldquo;Confirm&rdquo; to execute the sell order.

Question 28

What is a Stop Order?

Accepted Answer

A Stop order is a conditional trade feature used to buy and sell crypto which helps prevent any losses over a chosen price. Setting a stop limit price is a secure way to automate buy or sell orders without constantly needing to watch the market. Stop feature is a combination of Stop & Limit order together.
There are 3 components to the &ldquo;Stop&rdquo; feature:
Stop (Trigger price): When the last traded price reaches trigger price, an order book entry will be made with the price specified in the stop price section. This is useful in a very fast-moving markets and helps stop-order entry effect in the order book well in advance.
Price (Limit price): This is the price at which you want to buy or sell. When the last traded price reaches this price, the order gets executed & an order book entry will be made accordingly.
Amount: quantity of the crypto you would like to buy/sell at the limit price
Examples of Buy & Sell Stop order:
Buy Stop order - Let us assume that BTC is trading at $20,000 and you would like to buy 1 BTC at $19,900. You can place a Stop (Trigger price) at $20,100 and Price (Limit price) at $19,900. When BTC price reaches to $20,100 the order will be triggered and an entry will be made in the order book to execute buy when BTC price reaches to $19,900.
Sell Stop order - Let&rsquo;s say you bought 1 ETH at $2,000. You notice a price drop and decide to sell it at no less than $1,950 to prevent further loss. You can place a sell stop order with the stop price at $1,970 and the limit price at $1,950. Once the last traded price reaches the trigger price of $1,970, your order is activated, it will make an order book entry for your ETH to be sold when market price reached $1,950.
Note: For Buy stop orders the stop price (Trigger price) must be above the market price. For sell stop orders the stop price (Trigger price) must be below the market price.
How to place Stop order at Multibank io?

Login to your Multibank io account
Go to &ldquo;Trade&rdquo; and select &ldquo;Spot&rdquo;
On the top-right side in trade widget, select &ldquo;Stop&rdquo; from trade option drop-down choices.
Select Buy if you want to buy or Sell if you want to sell an asset
Enter Stop, Price, and Amount on the relevant fields and click buy or sell to place the order.

Question 29

What Is Leveraged trading?

Accepted Answer

What is leveraged trading?
When you use leverage, you are essentially borrowing funds to increase your trading position beyond what you would be able to deposit. You are required to deposit an initial margin (collateral), against which you can borrow funds to amplify your position.
MultiBank io offers up to 125:1 leverage which means your initial margin requirement would be 1.00% of total transaction value. For example, deposit $1,000 as margin in your account and you can trade up to $125,000.
Calculation (using above example): 
Margin Based Leverage (125)  = Total Value of Transaction ($125,000) / Margin Required ($1,000)
A word of caution for new traders:
Trading using leverage can be very profitable, but also extremely risky as leverage has the potential to enlarge not only your profits, but your losses too. The greater the leverage, the greater your risk. Selecting a high "Margin Based Leverage" to trade can quickly deplete your trading account if the market goes against you.

Question 30

Trading Fees

Accepted Answer

Please visit our Fee Structure page for the full list of trading fees.

Question 31

What is Stop-Market Order?

Accepted Answer

A Stop Market order is a type of order that is triggered when the price of a cryptocurrency reaches a specified level. It is an order to buy or sell a cryptocurrency at the best available price once the desired stop price is reached.
How does a stop market order work in Multibank io and how can we place an order?
When a Stop Market order is placed, the trader sets a stop price, which is the price an order will become active. Once the market price reaches the stop price, the order is triggered, and trade is executed as market order at the best available price.
Note: On Buy Stop market orders, the stop price must be equal or above the market price. Alternatively, for Sell Stop Market orders, the stop price must be equal or below the market price.

Login to your Multibank io account
Go to &ldquo;Trade&rdquo; and select &ldquo;Spot&rdquo;
On the top right-hand side of the trade widget, select &ldquo;Stop&rdquo; and hover to select &ldquo;Stop-Market&rdquo; from the drop-down selection.
Select Buy if you want to buy or Sell if you want to sell an asset
Enter Stop price and enter either Amount of currency or Total amount of currency on the relevant fields.

Option to use the sliding bar to determine the percentage of the balance you want to utilise.

Click Buy or Sell to place the order.

Question 32

What is a Trailing Stop Market Order?

Accepted Answer

A Trailing Stop Market is a type of order commonly used by traders to protect their profits or limit losses.   It is a specific type of stop-loss that automatically follows your position if the market moves in your favour, creating a new high-watermark and securing your profit, but it will remain in place if the market move against you &ndash; closing out your position at a specified trailing amount or percentage when market price reaches your trailing stop.
A trailing stop would be placed below the current market price if you are opening a long position and above if you are opening a short position. A trailing stop is set at a percentage level or amount of currency to trail by away from the market price &ndash; this distance is known as the trailing step &ndash; and if order is favourable, the stop will move to maintain that distance from the current price.
Let&rsquo;s say you buy BTC at $20,000, and you want to protect your profits in case the price starts to fall. You could set a trailing stop order to buy your BTC if the price falls by a certain amount from its highest point. For example, you might set a trailing stop market order with a "trailing percentage" of 5%. This means that if the price of BTC rises to $25,000, your stop price will also increase to $23,750 (which is 5% below the new highest price).
If BTC continues to rise, your stop price will continue to trail below the highest price. For example, if the price now rises to $30,000 per unit, your stop price will increase to $28,500 (which is 5% below the new highest price of $30,000)
On the other hand, if the price of BTC starts to fall, your stop price will remain the same (trailing 5% of highest price) until the price reaches the stop price. Once the price reaches the stop price, your trailing stop order will be triggered, and BTC will be bought at the best available market price.
How can we place Trailing Stop Market order at Multibank io?

Login to your Multibank io account
Go to &ldquo;Trade&rdquo; and select &ldquo;Spot&rdquo;
On the top right-hand side in trade widget, select &ldquo;Stop&rdquo; and hover to select &ldquo;Trailing-Stop Market&rdquo; from the dropdown selection.
Select Buy if you want to buy or Sell if you want to sell an asset.
Manually enter the amount of currency to buy/sell or Total amount of currency to spend. Alternatively use the sliding bar the define the percentage of amount to use.
Select the trailing value either ATV (Absolute trailing value/dollar value) or Percentage of currency to trail.
Click buy or sell to execute the trailing order.

Question 33

Order Exceptions

Accepted Answer

Due to the nature and volatility of Crypto markets, occasionally you may encounter problems with your orders when trading on MultiBank io.

If an order you placed has not been filled

Check the order to ensure the price of the order has matched the bid/ask price & volume.
If the price and volume have not been matched or would like to expedite your order, you can either cancel the order and submit a new order with a more competitive price or alternatively leave the order open and wait for the bid/ask price & volume to be reached. For a quick settlement, you may also consider using a market order.

If the above suggestions don't solve your problem, please contact us and have the following screenshots available:

The unfilled order
The exception or error

Question 34

What is a Market Order?

Accepted Answer

A market order is an order to buy or sell an asset immediately. This type of order guarantees that the order will be executed but does not guarantee the execution price. A market order generally will execute at or near the current bid (for a sell order) or ask (for a buy order) price. A market order is generally appropriate when you think an asset is priced right, when you are sure you want a fill on your order, or when you want an immediate execution.
How to execute a market order at Multibank io:

Go to &ldquo;Trade&rdquo; & select &ldquo;Spot&rdquo;.
Select the pair you want to trade.
Select &ldquo;Market&rdquo; order (default option) in trade widget.
Select &ldquo;Buy&rdquo; if you want to buy or &ldquo;Sell&rdquo; if you want to sell an asset.
Specify the Amount of currency to buy or sell or Total amount of currency to spend.
Press &ldquo;Buy&rdquo; when buying or &ldquo;Sell&rdquo; when selling the asset.

You will get a message on the screen when the order has been executed.

Question 35

What is an Order Book?

Accepted Answer

An order book is a ledger containing all outstanding orders to buy and sell of a particular coin/token. The order book is split into two halves buyers and sellers. Each entry in the buys order book will show the price that people want to buy at and how much they are prepared to buy. Inversely, sellers will list what price they want to sell at and how much to sell. When a seller and a buyer both agree on a price, a trade happens, and the coins/tokens change ownership.
Multibank io does not provide an order book of its own. Instead, it sources order book liquidity from multiple global exchange liquidity, to deliver you the best possible prices and spreads.
What kind of trading does Multibank io offer?
Multibank io offers varieties of trading functions for retail traders such as Spot (Market, Limit & Stop), Instant Buy, Convert, & Panic Sell.

Question 36

What is a Limit Order?

Accepted Answer

A Limit order lets you buy or sell an asset at a fixed price that you determine. 
The advantage of limit orders over market orders is that you know what you will get in terms of price: Limit orders guarantee you won't be matched with a worse price than what you specified.  You can also use limit orders to wait for the market to reach a certain price target, rather than just taking whatever is available at present.
The disadvantage of Limit orders is that there's no guarantee the order will completely fill (or fill at all).
Limit order has several Time-In-Force options, which is a special instruction used when placing a trade to indicate how long an order will remain active before it is executed or expires. These options are especially important and allow you to be more specific about the time parameters.
Different Time-In-Force options in Limit Order:
Good till cancelled (GOC) &ndash; is an order to buy or sell crypto that lasts until the order is completed or cancelled.
Fill or Kill (FOK) &ndash; is a limit buy or sell order that must be filled entirely, or it is cancelled.  This means that you will always buy or sell the exact amount of crypto at the exact price you specified.
Immediate or Cancel (IOC) &ndash; is an order to buy or sell a crypto that must be executed immediately.  Any portion of an IOC order that cannot be filled immediately will be cancelled.
How to execute a limit order at Multibank io?

Login to your Multibank io account
Go to &ldquo;Trade&rdquo; and select &ldquo;Spot&rdquo;
On the top right-hand side of the trade widget, select &ldquo;Limit&rdquo; & select the pair you want to trade.
Select &ldquo;Buy&rdquo; if you want to buy or &ldquo;Sell&rdquo; if you want to sell an asset.
Specify the particular limit &ldquo;Price&rdquo; you wish to buy or sell
In &ldquo;Amount&rdquo;, specify the quantity of the Asset you desire (Example 1 BTC)
Select a time-in-force option (GOC, FOK, or IOC) & press Buy or Sell to place an order.

Question 37

Is my information safe with MultiBank io?

Accepted Answer

Please be assured at MultiBank io all your data is stored under the highest security and is only kept for internal verification and audit purposes and will never be shared with any 3rd parties unless mandated by law.
We follow supreme security measures for all data collection, storage, and processing practices.These measures prevent unauthorised access, alteration, disclosure, or destruction of your personal information, username, password, transaction information, and data stored on our site.There are risks involved while transmitting sensitive data over the internet, consequently we cannot guarantee the integrity of your data while it is being sent to us.
For more information, please see our privacy policy.

Question 38

Why Does Choosing A Regulated Entity Matter?

Accepted Answer

Choosing a regulated entity matters for two overarching reasons:
Protection Regulated exchanges are registered legal entities which require financial resources, qualified individuals and appropriate systems and controls that are adequate for providing our services. Importantly, regulated entities are heavily monitored and supervised by the local regulator to ensure the entity does not engage in misleading conduct, facing severe penalties if they act outside their authorisation.
Safety of Funds We have military grade security to shield our wallet infrastructure from digital and physical threats. We only deal with top tier regulated banks, ensuring clients fund are held with regulated, respected institutions, in prominent jurisdictions. We have a three-tiered system of protection from physical to operational and technical, covering all aspects of both online and offline processes and systems.

Question 39

Is MEX Digital regulated?

Accepted Answer

Mex Digital Pty Ltd (ABN 54 645 164 209) is a Corporate Authorised Representative (AFS Representative Number 001285048) of Mex Australia Pty Ltd (AFSL 416279). Both MEX Digital and MEX Australia adhere and abide by prescribed ASIC regulations including ASIC Instrument 2020/986 Product Intervention Order &ndash; Contracts for Difference.
MEX Digital Pty Ltd is registered as a Digital Currency Exchange with AUSTRAC (Registration No. 100724469) through which we offer our spot products.
Multibank FX International Corporation trading as Mex Digital (Company No. 1377324) is regulated by the Financial Services Commission (FSC SIBA/L/14/1068) of the British Virgin Islands (BVI) which facilitates our leveraged products.
Visit our website for further information.

Question 40

How to protect my account / Increase security?

Accepted Answer

Blockchain transactions are irreversible and final. Once the funds have left your account, there is no way to return them or to determine the recipient.  It is vital to protect your account from intruders.
Set a strong passwordUse a unique and brute-force protected password. Avoid the use of simple words, dates, names, etc. as your password.  Avoid using similar password more than once. The most secure option is a combination of a randomly generated password and a trusted password manager. It is advisable to change your password every few weeks & keep safe and secure and not disclosed to anyone.  
Enable 2-factor authenticationThis is a critical security feature. Even if anyone learns your password, they can't simply access your account. Google 2-Factor Authentication (2FA) is an additional security layer to your password. With 2FA enabled on your account, you will have to provide your 2FA code when performing certain actions on the app. The 2FA can be enabled in the "Security" tab. 
Be vigilant and always adhere simple safety precaution.
Your Devices

Keep them neat and orderly &ndash; be aware of what is installed on your devices. Ideally, have a dedicated computer for trading and do not install any applications that are not relevant to trading.
Do your research to consider the operating system you use &ndash; although this does not guarantee you 100% safety, some OS significantly reduces the risks.
Do not install any plugins as they can easily turn out to be password-collecting malware. Avoid saving your passwords in your browser.
Browser extensions from unknown developers can easily turn out to be malware. They could be used to steal your personal data, intercept your payment details or even to sneakily replace your own deposit address on a web page with the hacker&rsquo;s address.
Make sure to maintain the same level of security on your phone, tablet, or any other device which stores your 2FA code and passwords. 
Enable fingerprint check (if available) and the remote erase to use if you lose the phone. 
Do not share your device with anyone. 
Uninstall and wipe out all unused applications 
Upgrade your iOS or Android operating system to the latest version

WiFiIn general, you should store as few trusted Wi-Fi networks in your devices as needed and disable auto-connect. If you work in a sensitive position and have unique Wi-Fi network names at your office, you could be leaking the details of your employment to interested parties without knowing it. When in doubt, simply disable your Wi-Fi radio when you&rsquo;re not using it, as this will prevent most Wi-Fi-based attacks.By taking the steps above, it&rsquo;s easy to reduce the risk of your Wi-Fi device joining a malicious network automatically, being tracked between locations, or leaking personal information. While these tips aren&rsquo;t a complete guide to staying safe on Wi-Fi, they will keep you safe from several of the easiest and cheapest attacks hackers employ.
EmailIt is strongly recommended that you set up a separate email address for trading. Enable the 2-step authentication, if in case your mailbox is accessed from an unknown device you&rsquo;ll get notified.
Using your email

Never open unexpected attachments, especially if they contain files of unfamiliar or unknown type or documents/files you have not requested.
Never click on any unexpected external links sent to you in an email. Or, if you must, please make sure you know why you are clicking it. One letter can make a huge difference to your security.
Whenever your account is accessed from a new IP address, we will promptly notify you via email. We will also send you emails about any activity, such as withdrawals. These notifications will help you detect illegitimate activity as quickly as possible.

Phishing websitesAlthough new kinds of scam are being invented every day, the old tricks continue to work quite well: people naively click on links that look vaguely familiar that lead them to seemingly recognizable websites.
The one and only URL for MultiBank io is multibank.io, any other URL is a phishing site. Do not trust lookalikes, do not enter your login and password if you have doubts about the website you just clicked. The best option would be to simply bookmark the legitimate MultiBank io page or enter our address manually every time.
Please contact MultiBank io Customer Support immediately if you think you have received a suspicious message or noticed a suspicious activity. We monitor and promptly respond to all phishing activities, and your help would be greatly appreciated.
Contacting supportMultiBank io have live-chat & also the ability to submit a request via Contact Us in our website for any query.  
If in doubt, please contact customer support before you send an email message or chat to someone on social media.
Lastly, MultiBank io never asks you to send any money to participate in any contest or lottery. Please be careful, protect yourself with simple but reliable steps we recommend, pay more attention to the actions you take both online and offline, and use safe networks.
Done making sure that your account is secure? It's time to initiate your first deposit!

Question 41

Account Compromised | Unrecognized Activity

Accepted Answer

If you notice suspicious activity on your account or believe has been compromised, follow these steps immediately:
1.  Lock your account
Get in touch with Multibank io Support right away via contact us page to temporarily block your account. This action restricts anyone from engaging further activities to your Multibank io account.
2.  Reset your Multibank io account password
To prevent further or future unauthorized activity from happening, change your password by simply using the Forgot Password link at your login page. Do this for all your accounts across all your devices.
3.  Secure your email and device
Reset your email password and check for any unfamiliar rules, filters, forwarding addresses, or recovery emails. Scan your devices with anti-virus software and ensure that your device software is updated to the latest version. This protects your accounts and devices from potential malware threats that could be used to steal your sign-in credentials to gain unauthorized access to your account(s). 
Furthermore, please specify a comprehensive list of your issue(s) for us to immediately investigate further.  Attach any relevant screenshot(s) which may add context to the case & provide your response to below list of questions:

When was the last time you successfully logged in and authorized an action on your account?
Please list any actions that were not authorized by you. Provide the main compromised activity that occurred.
Have you provided your login information to a third-party, or did a third-party ever have access to your account? (Yes/No)
Does anyone else have access to your device, mobile phone, or email address? (yes/No)
What else can you tell us about what happened (e.g., websites you visited, phone numbers that called your, messages you received, unauthorized bank transactions, etc.)

Please note: By submitting a ticket, you are requesting that Multibank io disable your account temporarily.

Question 42

Move Google Authenticator to a New Phone

Accepted Answer

Do the following steps to move your Google 2FA to a new device:

Start by installing Google Authenticator on your new device.  
Next, you&rsquo;ll need your computer. Open Google&rsquo;s 2-Step Verification page in a browser and log into your Google account when it asks you. In the &ldquo;Authenticator app&rdquo; section of the page, click &ldquo;Change Phone.&rdquo;  
Choose the kind of phone you are migrating to and click &ldquo;Next.&rdquo; You should now see the &ldquo;Set up Authenticator&rdquo; screen, complete with barcode.
Open Google Authenticator on the new phone and follow the prompts to scan the barcode. Tap &ldquo;Setup,&rdquo; and then &ldquo;Scan a Barcode.&rdquo;
After the scan, you&rsquo;ll want to enter the one-time code to verify it&rsquo;s working.

Question 43

2FA Authenticator App Error

Accepted Answer

If the 2FA code from your phone's authenticator app won't work, please check the following resolution suggestions:

Out-of-sync TimeIf you have access to your 2FA codes but are receiving an 'Invalid login' message, please update the time settings on your phone from Manual to Automatic and ensure the correct code is being used.
Clear your browser cache and cookies
Mixing up multiple 2FAs

If you have multiple 2FA saved, please make sure they are properly labelled within your authenticator app(s) so you know which code is for what.
Note: If you regenerate a specific 2FA function you will need to remove the old entry from the Authenticator to avoid confusion.

On iPhone:click the pencil icon in the upper right corner, select the 2FA function you would like to delete and then click "Delete" at the bottom of the screen.
On Android:hold down on the 2FA you wish to remove then hit the bin icon in the upper right corner.

Question 44

Security & Regulation

Accepted Answer

MultiBank io utilizes the use of both hot wallet and cold storage as precautionary measures to ensure the protection of our client's assets. MultiBank io maintains an online (hot) wallet loaded with only a fraction of the digital assets required for operational purposes. The vast majority of digital assets are held offline in cold storage.
MultiBank io operates in this way to address the possibility of system compromise.

Question 45

How long will you keep my data for?

Accepted Answer

We store collected information for as long as it is necessary to be able to provide products and services to you.
If you delete your account, we will keep your information for 7 years from the date of deletion, due to the requirements of anti-money laundering laws and other legal acts. After 7 years, your personal information will be deleted. However, your information may be, wholly, or in part, retained for longer or shorter if required by applicable law or if there is another justified reason to retain or delete it.
In some cases, we can keep your information longer than 7 years: such exceeding can be used only in the case of arising of legal requirements that will oblige us to store your information for more than 7 years. We also store information on your transactions for 7 years due to the requirements of anti-money laundering laws and other legal acts. Information associated with your account will be kept until your account is deleted unless we no longer need the data to provide products and services.
Please note that retention periods may be changed from time to time based on business or legal and regulatory requirements.

Question 46

How to close my MultiBank.IO account?

Accepted Answer

We don&rsquo;t want to lose any of our customers, so please contact us directly if you would like to discuss your issues before closing your account, all requests will be directly dealt with our senior management &ndash; log a case here and select &ldquo;Complaints&rdquo;. 
To close your account, please submit a support case on our website via the &lsquo;Contact Us&rsquo; form and select &ldquo;Other&rdquo;.  On the description field, please provide a reason or explanation to supplement your request. Please note we may retain your information as required by law for 7 years.
If you have any further questions or need a hand with anything else, please don't hesitate to reach out.

Question 47

Deceased Account Holder

Accepted Answer

In the event of an account member's death, MultiBank io will be able to facilitate transfer of assets in the easiest manner possible. Submit a request via Contact Us page to notify us on the situation and a member of our team will work with you throughout the process. 
How to reach out1.    On the Multibank io website, go to our Support page & click Contact Us to submit a request2.    Fill in your name, email & contact number3.    Select &ldquo;No&rdquo; under "Are you an existing Multibank io Customer"4.    Select &ldquo;Other&rdquo; under Topic5.    Provide a brief description concerning the issue.
Once request is received, our Team will reach out detailing all essential requirements to commence the asset transfer process.
Below are the documents that will be requested from you:&bull;    Death Certificate&bull;    Last Will and Testament - AND/OR - Probate Document (either Probate, Letters Testamentary, Letters of Administration, Affidavit for Collection or Small Estate Affidavit)&bull;    Valid government-issued photo identification of the person(s) named in the letters issued&bull;    A letter signed by the person(s) named in the Probate Documents instructing Multibank io to transfer the full balance to a nominated bank account.
Please keep in mind that the required documentation and processes may differ depending on your region and individual circumstance. If we need additional information, we will request it via email.

Question 48

My crypto withdrawal is missing?

Accepted Answer

A Transaction ID (TXID) will be generated within 60 minutes, you can copy & paste the TXID into a blockchain explorer to personally inspect the blockchain ledger and transaction status:

If the transaction has not yet been confirmed in blockchain ledger, wait for it to do so
If the transaction status reads 'confirmed' or 'success' in blockchain ledger, then MultiBank io has successfully transferred the coins and we are no longer able to control the transaction. If you still haven&rsquo;t received your funds, please contact the receiving wallet/exchange support team for assistance.
If the transaction status shows an error, provide us with your account details and transaction ID so we can solve the issue.

Click here to contact us and a customer service representative will be in contact with you shortly.

Question 49

Which method will my Fiat withdrawal request be processed?

Accepted Answer

Your withdrawal will be processed via bank transfer. If you wish to withdraw in a different method, please reach out via Contact Us page. 
Please note, for credit/debit card withdrawals we can refund back to card up to the amount originally funded. Any profits will be refunded back to your nominated bank account.

Question 50

Why is my Fiat withdrawal still not processed?

Accepted Answer

Withdrawals are generally processed within hours of receipt during Australian business hours Monday to Friday, except Public Holidays.
Any withdrawals submitted outside those hours will be processed the following business days.  However, we do give an indicative turnaround time of 24 hours.  You will be contacted immediately if there are issues requiring your attention to proceed.
Once we complete the payment, the bank will finalise their process for the funds to reflect in your designated account.  Bank transfers usually take 1-5 business days to process depending on the region/country and respective bank&rsquo;s processing time.

Question 51

Will my bank charge me to receive the funds from MultiBank io?

Accepted Answer

It is possible your bank might charge extra fees for inbound transfers.  Please contact your bank to confirm.

Question 52

I have a Corporate trading account; can I withdraw Fiat to my individual bank account?

Accepted Answer

No, we do not allow receiving or transferring funds to third-parties. Bank account must be in the same name as your Multibank io account.

Question 53

How to withdraw Cash (Fiat) to a bank account?

Accepted Answer

Fiat withdrawals are generally processed within hours of receipt during Australian business hours Monday to Friday.  Any withdrawals submitted outside those hours will be processed the following business days. Please keep in mind that it may take up to 24 hours for a withdrawal to be reviewed and processed on our end.
Once we complete, the bank will finalise their process for the funds to reflect in your designated account.  Bank transfers usually take 1-5 business days to process depending on the region/country and respective bank&rsquo;s processing time.
The Fiat withdrawal to bank transfer process is as follows:

Login to your account
Go to "Wallet", then "Withdrawals"
Select the Fiat currency you want to withdraw.
Select your beneficiary bank from saved Bank Account.
Enter the withdrawal amount & submit.

Request will be processed to your nominated bank account details.

Question 54

How long does it take to process a Fiat withdrawal?

Accepted Answer

Bank Transfer
A bank transfer can take 1-5 business days to be processed, depending on the bank and country you're receiving the money to. It's also worth noting that transfers made on a weekend, a public/bank holiday, or after the currency cut-off time will be processed the following business day.
There are instance with Beneficiary or Correspondent banks holding up large amounts made to a new payee address for security processes. They might require further information from the sender or recipient and is usually hold-off less than 24 hours. All withdrawals are reviewed & processed once request is received.   You will get an automatic email from us once those funds are taken out from your account. 
Credit Cards
Funds should be received in the respective credit/debit cards and/or bank account associated with the relevant card according to each bank's processing time.  Usually it takes within 1-5 business days for funds to reflect.
Please note, regardless of which processing method, there may be unforeseen circumstances whereby withdrawal times may be longer than normal.

Question 55

Why has my Fiat withdrawal not arrived?

Accepted Answer

If your withdrawal transaction from MultiBank io did not arrive within the expected time frame, please consider below steps:

Check the withdrawal status.  If still pending, that means you request is still in queue for processing.
Check that all of your banking information on your MultiBank io account is correct.
Check if there are any banking holidays.
If the above steps don&rsquo;t help, please contact Support via the Contact Us form.

Fiat withdrawals are generally processed within hours of receipt during Australian business hours Monday to Friday.  Any withdrawals submitted outside those hours will be processed the following business days. Please keep in mind that it may take up to 24 hours for a withdrawal to be reviewed and processed on our end. Once completed, depending on the requested method of payment, the bank or payment provider will finalise the process in order for the funds to reflect in your designated account.
We reserve the right to send the withdrawal amount to the original payment method/s used to deposit funds into your MultiBank io account. If the amount you are requesting to withdraw exceeds the amount deposited with a single credit/debit card, we will send the balance to another method of payment or via bank transfer.

Question 56

Crypto withdrawn to an external wallet

Accepted Answer

If the transaction ID shows that the transaction is broadcasted to the blockchain and the cryptocurrency did not reflect in your external receiving wallet, you must contact the receiving wallet service provider to resolve this issue.
Furthermore, if the status of withdrawal is completed, we will not be able to locate your funds due to anonymity of blockchain. If you have sent your coins/tokens to a wrong address by mistake, please contact receiving platform for further assistance.

Question 57

How do I withdraw Crypto?

Accepted Answer

Crypto withdrawals will be processed instantaneously & will be visible on the blockchain. However, the time frame for processing withdrawals can also depend on the number of network confirmations required on the receiving service&rsquo;s end. There is no way to cancel or reverse these transactions. Ensure you have thoroughly checked the address and asset you are withdrawing.
The withdrawal process is as follows:

Login to the Platform
Select &ldquo;Wallet&rdquo;, then &ldquo;Withdrawals&rdquo;
Select the asset & amount you want to withdraw
Enter your external wallet receiving address.
Review & Submit

Withdrawal confirmed in blockchain but not received in designated wallet
If you have checked TxID on blockchain and showed "Confirmed", please check if enough confirmation has reached which receiving platform required. If still insufficient, please allow extra time prior checking again.
If receiving platform&rsquo;s required number of confirmations are reached but there is no record on the account, please contact receiving platform&rsquo;s customer support for assistance.
Withdrawal unconfirmed in blockchain 
If upon checking your TxID on blockchain and it showed "Unconfirmed" or &ldquo;Pending confirmation&rdquo;, it means the transaction has already been processed by Multibank io and waiting to be confirmed in the blockchain. After the transaction has been confirmed and gained certain amount of confirmations, it will be credited to recipient account.
Each platform has different requirements for blockchain confirmations, you may reach out to recipient platform for more details.
Withdrawal to a wrong wallet address
If the status of withdrawal is completed, we will not be able to locate your funds due to anonymity of blockchain. If you have sent your coins to a wrong address by mistake, please contact receiving platform for further assistance.
If you are still having issues, please send us a message via website Contact Us page with the following information:

Coin Name
Transaction ID (if you have it)
Transaction Address
Transaction Payment ID

Question 58

Can I deposit or withdraw funds from/to third-parties?

Accepted Answer

Third-party payments are not allowed whether you are funding your account or making a withdrawal. We can only accept funds from a source bearing the account holder&rsquo;s name. Equally we can only return funds to a source which bears the name of the rightful owner of the account.

Question 59

Fiat Deposit failed using card

Accepted Answer

When a charge is created, credit/debit card companies and payment processors take many factors into consideration to determine if the charge is valid or not. Failed payments typically happen when credit card information is entered incorrectly, or the card is declined. Declines can happen for a variety of reasons other than the availability of funds but not limited to below:

Insufficient balance in the account
International purchase not enabled
Bank suspicious of the transaction
Withdrawal limit has been reached
Card has expired

Double check card details are entered correctly. Incorrect information can cause your transaction to be declined or blocked.  In some cases, your card may be charged and then immediately refunded if your transaction is blocked. This will show as 2-line items on your credit card statement (a debit followed by a credit). 
Please pay attention to the balance of your bank card or contact the customer service of your bank.
It is recommended to change to another card or deposit channels if funding error still occurs.
If in case you didn't receive your funds within 24 hours after you have deposited successfully, please provide us with your bank statements or any proof document, we will escalate to relevant team for further investigation.

Question 60

Crypto Deposit Address

Accepted Answer

Please ensure the deposit address you used is that of MultiBank io and corresponds to the supported blockchain network and crypto you are trying to send. You can search the deposit address for each coin by going to the coin wallet address:
&bull;    Go "My Wallet" page, then select &ldquo;Deposits&ldquo;&bull;    Select the asset & click "Generate Deposit Address"&bull;    A receivig wallet address will be provided 
Or alternatively contact support via Contact Us page to confirm whether the address belongs to MultiBank io.
NOTE: We can only send or receive from Multibank io supported blockchain networks.  Please cross-verify that you have selected the same network used on both sending/receiving platform.  We cannot retrieve your funds if your recipient address does not belong to Multibank io. You will need to contact the sender platform for further assistance.

Question 61

Why has my Fiat deposit not arrived?

Accepted Answer

If your deposit transaction to Multibank io did not arrive within the expected time frame, please consider below steps:

Check thestatus in Deposit History. If still pending, that means the deposit hasn't yet reached our bank or unable to allocate due to lack of reference (without a clear reference, some deposits cannot be instantly assigned to your account).
Check your transfer receipt to make sure you entered our correct bank details.
Check if there are any banking holidays, as it can cause a slight delay.
For Credit/Debit card deposits, verify if transaction has reflected in your card balance.
If the above steps don&rsquo;t help, please contact Support via the &lsquo;Contact Us&rsquo; form & provide proof document.

Please note that credit/debit card are instantly credited once we successfully receive the deposit. Bank transfers usually take 1-5 business days to process depending on the region/country and respective bank&rsquo;s processing time. You may contact us again if your funds don&rsquo;t arrive in 5 business days after you make the bank transfer.

Question 62

How to deposit Cash (Fiat)?

Accepted Answer

Cash (Fiat) can be deposited via the following methods:

Bank Transfer
Credit Card

To deposit Fiat, your account needs to go through KYC & must be verified.
Steps to deposit Fiat via Bank Transfer:

Log into the MultiBank io platform by inserting your login credentials.
In the platform, go to &ldquo;Wallet&rdquo;, then select &ldquo;Deposits&rdquo;.
Choose the relevant cash (Fiat) currency to deposit.
Select Bank Transfer method & choose the corresponding bank account. Banking details will be supplied to which you will make a direct deposit from your external bank account. 
After completing the bank transfer, enter the amount transferred, bank transaction ID, & any additional comments relevant to your deposit for reference.
As soon as the funds clear in Multibnk io bank account, your Fiat currency wallet balance will be updated with the amount transferred.

Steps to deposit Fiat via Credit/Debit Card:

In the platform, go to &ldquo;Wallet&rdquo;, then select &ldquo;Deposits&rdquo;.
Choose the relevant cash (Fiat) currency to deposit.
Select Credit or Debit Card deposit method & input desired amount and click "Go To Payment".
You will be redirected to our third-party payment processing services to provide the required card details to complete the transaction.
As soon as card deposit transaction is successful, your Fiat currency wallet balance will be updated with the amount transferred.

Question 63

How to initiate Crypto deposit?

Accepted Answer

Once your account is registered, you can start to deposit and trade Crypto.  To initiate a crypto deposit, please follow these steps:

Log into the Multibank io platform by inserting your log in credentials.  Click here to login
Go to &ldquo;Wallet&rdquo;, then select &ldquo;Deposits&rdquo;
Choose the relevant cryptocurrency you would like to deposit & click "Generate Deposit Address".
You will then be supplied with option to use a QR Code or alternatively you can copy the receiving wallet address manually to make a direct deposit to your Multibank io account.
After certain confirmations (depending on the asset or network you choose), your asset will be transferred to the receiving address & your Multibank io balance will be adjusted accordingly.

Please ensure you transfer each Crypto to its corresponding wallet (e.g.: BTC to a BTC wallet address) since incorrect transfers (e.g.: BTC to ETH wallet address) cannot be reversed or recovered.
If you have issues, check the transaction status on the relevant block explorer platforms by using the transaction hash.  Alternatively, please reach out via Contact Us page & provide: 1.    Coin Name 2.    Transaction ID (if you have it) 3.    Transaction AddressAttach a print screen of the deposit issue being experiences. (if applicable)

Question 64

How long will the Crypto take to reflect in my account?

Accepted Answer

Crypto deposits generally reflect in a matter of minutes depending on each confirmation requirements, however at stages the blockchain can be backed up to the extent where deposits have been known to take a few hours in extreme circumstances. Please keep checking the relevant block explorer or contact us for support.

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