Paybis implements support for ACH bank transfers

Tuesday 5 September 2023 11:11 CET | News

UK-based fiat-to-crypto exchange Paybis has added support for ACH bank transfers to streamline crypto purchases for US customers.


The adoption of ACH by Paybis aims to provide a quick and cost-effective way for Americans to enter the cryptocurrency ecosystem. ACH, or Automated Clearing House, is a US financial network responsible for processing a substantial volume of credit and debit transactions. It serves as a means for both individuals and businesses to conveniently transfer funds between bank accounts. 

When a user initiates an ACH transfer, funds are promptly debited from their checking or savings account, resulting in near-instantaneous transfers, often settling on the same or the following day.  In order to successfully integrate ACH transfers, Paybis established partnerships with US-based banks and payment processors, forming the foundational infrastructure necessary to connect user accounts and facilitate ACH debits. Subsequently, Paybis created a customised interface that enables users to securely link their bank accounts, with sensitive financial information tokenised to ensure protection against exposure. 

Once linked, users can easily authorise ACH payments directly from their Paybis account dashboard, with funds being credited and available for use almost immediately. To enhance security, Paybis implemented an advanced fraud monitoring system, which verifies user identities, bank account ownership, and payment histories to identify and address suspicious activity.


UK-based fiat-to-crypto exchange Paybis has added support for ACH bank transfers to streamline crypto purchases for US customers.


Purchasing crypto with Paybis ACH

According to the official press release, the process of purchasing cryptocurrency through Paybis ACH transfers is streamlined and takes just minutes. After users create an account and complete identity verification, they can securely link their US bank details. 

Within their personal Paybis dashboard, users can select the desired deposit amount in USD, confirm ACH payment details, and have funds debited from their accounts. 

Users can then conveniently explore numerous supported cryptocurrencies within the Paybis interface and complete their purchase with just a few clicks. The entire journey, from account creation to cryptocurrency acquisition takes minutes, providing a notably efficient alternative compared to traditional wire transfers or card payments.  

Additionally, newly acquired cryptocurrencies can be withdrawn to the user's preferred external cryptocurrency wallet or stored securely within Paybis's proprietary cold storage system. By leveraging the capabilities of ACH payments, Paybis aimed to widen access to cryptocurrency investments for a larger segment of the American population. 

In the future, the company also plans to expand a series of services designed for US investors while maintaining a focus on security and compliance.

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Keywords: cryptocurrency exchange, ACH, product upgrade, bank transfer
Categories: DeFi & Crypto & Web3
Companies: Paybis
Countries: United States
This article is part of category

DeFi & Crypto & Web3


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