Blockchain Bank Transfer Payment Flow
Posted by Coinify on 01 December 2016 03:01 PM
Buying bitcoins from your Blockchain wallet is very easy!
You need to log into your wallet and click on BUY BITCOIN on the left menu. Enter the amount you want to buy and you will get the equivalent in Bitcoin. Once you have chosen the desired amount, click on the blue Buy Bitcoin button.
Now, select your country of residence from the drop down menu and click on Continue. You will be informed that an email has been sent to you in order to verify your address. Follow the Verification Link in that email.
Next, click on your preferred payment method (Card or Bank Transfer), Bank Transfer in this case, and then on Continue. Please, be aware that you will have a one time request to verify your identity, which is required under Government Anti Money Laundering regulations.
The next step is registering your phone. Select the country your phone number is from with the drop down menu by clicking on the flag and then enter your cell phone number, one that allows you to receive international SMS. Click on Send Passcode and allow a few minutes for the code to be sent via SMS. You will see a green banner with the message “A unique One Time Passcode has been sent to your registered number.” Enter the code sent to you phone and click on Register Mobile.
The following step is to verify your address. Fill in the fields with the address information required, select your country of residence from the drop down menu and when your are done, click on Continue.
Now, you need to verify your personal information. Fill in the fields with the personal information required, select your country of birth and citizenship from the drop down menus and when you are sure all the details are correct, click on Confirm details.
NB! If this is your first order, the system will ask you to upload documents that verify your identity and account ownership. They will be reviewed by our Compliance team (which might take up to 24hs) and you will be notified about the outcome via email. Once you are approved, initiate a new order following the same steps as they were described up to this point.
Select from the drop down menu what kind of Photo ID are you going to submit and then click on Next.
Click on Upload Document or use the Drag and drop option to upload a document you have already stored on your computer or smartphone. Bear in mind that in case of being scanned documents or image like files, they need to be of high quality and legible. Once the file is uploaded, click on Next.
NB! The review of these documents is handled by our Compliance Team and it takes approximately 24hs.
Follow the same steps in order to upload the requested Statement. Do not forget to select from the drop down menu the type of document you have decided to upload. Once you are done, click on iSignthis to verify this is my identity.
Notice that you also have the option of going Back to upload 1 in case you need to modify something about the previous uploaded ID, and to pause the order by clicking on Finish Later.
Order details. Once you have completed all the required steps you will get the action required notice with all the transaction information. It is called Action Required because you need to go to your bank account - in your name - and initiate a transfer with the details you see there: recipient name and address, IBAN, BIC, Bank and Message to the receiver with your ORDER ID Number.
Including this Order ID message is very important because that is the only way Coinify has to identify what transfer belongs to what order. Not doing so may cause delays in Bitcoin delivery.
Find the Pending bank order under the Order History menu, click on Finish payment and you will see the action required notice with the details described above. Your Order ID Number is right next to "Reference" and it looks like this example right here: CY12345
It is mandatory for the order to be process that you send the transfer from a bank account in your own name. Spouses' and corporate accounts are considered 3rd party, even though you are the owner of such company, and the transfer will be rejected.
Now you can see your transactions current status on Order History under Buy Bitcoin. It will remain in review until all the information is verified.
Once we receive the payment and all the information is verified (2-3 days), the order status will change to Purchased, Bitcoins will be delivered to your walletand you will also find the order under Transaction History.