Information regarding the timing of money transfers and locking rates
We are pleased to present you with details on when Bits of Gold receives your money transfer and information on when we lock the rates. Locking the rates in wire and cash transfers is done in the next round hour after your money is received and during working hours. In credit card, it's automatically locked after the Credit Card company approves it. Here's the information on when we receive your transfer:
1. Bank transfers
Receiving a bank transfer depends on your bank. Internal bank transfer (Leumi or Hapoalim) is instantly received in our account, but sometimes requires a bank approval. Locking the rate will be at the following round hour if we have been able to identify your transfer (that is, if you uploaded a copy of the transfer and were accurate in the amount you opened the order and eventually sent). IBAN transfer functions like internal bank transfer, except for the fact that bank approval is usually required, so it takes about half an hour and sometimes over an hour.
Inter-bank transfers - for example, Discount to Bank Leumi - take a business day to arrive. Any transfer leaving before 18:00, provided that it is confirmed by the banker, will arrive to us the following morning and therefore the rate will be locked at the earliest the next day. If you made a transfer after 18:00 it will be processed by your bank on the following business day, so it will arrive two days later. For example, a transfer made on 20:00 on Tuesday will arrive on Thursday morning and the rate will be locked at the first Thursday closing time. Transfer on Thursday after 18:00 or Friday will arrive to Bits of Gold's account probably on Sunday, or even Monday, depending on the opening hours of your branch.
2. Cash transfer
Cash transfer through the GMT branches, arrives to us a few minutes after you deposit the money in the branch. The rate is locked in the following round hour after your deposit. Please note that you must open an order in our website before you deposit the money in the branch, since we will not know where to send the coins if you did not open an order.
3. Credit Card
Buying your crypto currency using credit card is done with the help of our partners at SimplexCC, they process and it is approved by them. After the purchase is cleared by the clearing company, we receive an immediate indication of that, and the rate is automatically closed including off of the company's working hours. The automatic lock is the great advantage of buying with a credit card, and therefore for those interested in relatively fast execution, we recommend this method. Please note that coins will be sent during business hours.
We will be happy to serve you faithfully with any of the payment methods and you can find more information in our FAQ.
Team Bits of Gold.
Bits of Gold team.