Articles Product Updates

Product Update (12/19/19): Scheduled Bank Transfers2 min read

December 19, 2019 2 min read

Product Update (12/19/19): Scheduled Bank Transfers2 min read

Reading Time: 2 minutes

We’ve updated the functionality of our bank transfer service. Our new scheduled bank transfers feature combines the benefits of accepting Bitcoin – no chargeback fraud, lower fees and easy international payments – with the convenience of our supported currencies.

With scheduled bank transfers, the bitcoin in your local currency wallet can be seamlessly transferred to your bank account. When you enable this feature, your business can accept bitcoin without exposure to Bitcoin price volatility. Here’s how it works:

Scheduled Bank Transfers

Our scheduled bank transfer features provides an easy way to move your bitcoin earnings from the OpenNode platform to your bank account on a recurring basis. You can enable scheduled transfers by selecting the toggle on the Wallets > USD wallet page.

Picture of OpenNode platform feature scheduled bank transfers

Your full USD account balance will be automatically transferred to your bank account daily, once the minimum threshold has been reached.

How long does a scheduled bank transfer take?

OpenNode will process the scheduled transfer every day at 7:00 PM UTC for USD and 05:00 AM UTC for anything else. If you would like to stop these transfers, simply disable the toggle. Funds leaving the USD wallet will process and post in your bank account on the next business day (T+1)

To learn more about this feature, please refer to our help center article on bank transfers.

Scheduled bank transfers was yet another product update that was suggested by our user base. User feedback and product suggestions are one of the main drivers of innovation at OpenNode. We want to make the best Bitcoin payment processor for you and your business. If you have suggestions or comments about our product offerings, please reach out. You can email us at hello@opennode.com or reaching out to us on Twitter @opennodeco. Keep those suggestions coming!

F Cary Snyder is a designer at OpenNode. He believes that Bitcoin is the best settlement and store of value technology on Earth. Through design and high-quality content, he believes he can help inform and bring people into the Bitcoin ecosystem.