Purchasing Bitcoin via Linked Bank Account (ACH)

In supported US states, Casa customers can purchase Bitcoin (BTC) from their linked checking account.

Linking your bank's checking account to your Casa App facilitates BTC purchases using ACH transfers. 

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Purchasing BTC using a linked bank account is currently only available in select states within the United States.

Within the US, we currently do not support linked bank account (ACH) buys in:

  • Connecticut 
  • Hawaii
  • New York
  • New Hampshire
  • Texas
  • Vermont
  • Virginia

See Supported Regions for Buying Bitcoin for more information on regional restrictions.

Limits

Using a linked bank account, you can purchase up to:

  • $25,000 per week / per order

  • $50,000 per month

  • $75,000 per 60 days

  • $250,000 per year

Fees

There are two types of fees associated with every purchase:

  • Processing fee - There's a flat processing fee of 0.99% per order, with a $20 minimum order
  • Mining fee - Because the bitcoin you purchase is sent straight to your Casa wallet, there's also a mining fee. Bitcoin mining fee goes directly to individuals and organizations securing the Bitcoin network, and varies depending on network activity.

Note that neither of these fees go to Casa! We're offering this feature free for the safety and convenience of our customers, and are not marking up fees. 

Onboarding

To connect your bank account, you'll first need to complete the onboarding process, which involves verifying your identity and connecting your bank account.

The bank account that you link must be a personal checking account, so you will not be able to link a savings account, or a business checking account. 

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The onboarding process takes 3-5 minutes to complete, plus some additional time to verify (this can take anywhere from a few minutes to a few hours once all your information is submitted).

The information that you'll be prompted to share during the onboarding process is:

  • Full legal name (same as it appears on your photo ID)
  • Email
  • Mobile phone number
  • Birthdate (same as it appears on your photo ID)
  • Permanent address (same as it appears on your photo ID)
  • Social security number
  • Government ID - front and back of driver’s license, passport, passport card, or other government id.
  • Proof of address (in some cases)

Once you verify your identity, you'll be prompted to link your bank account using your log in credentials. You can set up your bank account in multiple ways:

  1. (New users) The First time you go to buy you’ll get be prompted to use Apple Pay/debit or bank account
  2. From the "amount entry" screen, tap at top of screen to select "Bank Account" and follow the prompts
  3. When you’re onboarding, from main chart screen you can tap a pill to re-enter

For the bank account linking process, we integrate with Plaid to best secure and protect this sensitive information.

"How long does the purchase take?"

Purchases using a linked bank account in your Casa App are facilitated via ACH transfers.

Due to how the ACH transfer process works in the US using a combination of automated and manual actions, it takes around 3-5 business days for a purchase order using a linked bank account to be delivered.

Since the ACH transfer system on operates on "business days," weekends and holidays, for example, do not count as business days, and may delay your order.

If your order does successfully complete, you will receive the amount of BTC you originally purchased for the amount you were charged, regardless of the BTC price at the time that your order is delivered.

How Information is Stored

Casa partners with Wyre for purchase services. You information is collected and stored by Wyre, but is never stored on Casa’s servers, since we have no need for this information.

Wyre retains this data for a minimum of 3 years in accordance with regulations, but this information may be held longer than that.

"What if I want to use a different bank account than the one I've added?"

We don't yet have the ability to add multiple bank accounts to your Casa App simultaneously for the purposes of purchasing BTC, but you can change the bank checking account that's associated with your BTC purchases. 

If you would like to change the checking account you have linked to another checking account, you would:

  1. Tap the "Buy" tab in Casa App (the Bitcoin icon)
  2. Tap the clock / history icon up top.
  3. Tap the settings icon 
  4. Tap "Replace bank account"

This will prompt you to authorize your new account. Once you add the new bank account, any purchases you make in the future will use the new bank account that you've linked.

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