Each banking relationship is a little different, but several core questions that are consistently asked by new customers. Explore answers to these questions in detail below.
Funds collected from Bitcoin ATM locations are never sent to BankLine. In fact, BankLine does not ever take possession of funds during any step of the transaction process. Each bank account is opened in the company’s name, under the business entity’s EIN number, with all transaction data posted directly to the account. Funds are typically settled within 48 hours of reception.
Account setup time frame is heavily dependent upon the amount of time it takes to receive a fully completed application package. As soon as BankLine has received a completed application, the account setup typically takes between two and four weeks.
There is no additional hardware necessary to transact business with BankLine’s banking network. Funds can be either transported via armored courier or shipped directly to the BankLine partnering institution.
Funds are made available within 24 to 48 hours of reception at the partnering bank.
There are no limits to the number of transactions or deposits to/from the partnering depository institution.
Yes. BankLine simply requires that you provide the Customer Due Diligence of your merchant activity on funds flowing through the Merchant account of the partnering bank.
BankLine will help the Merchant deliver the information electronically, in the proper format, so the partnering bank can easily the required reporting for its Regulators and Examiners.
BankLine does never takes possession of any funds or data, we simply provide the bank on-boarding, vetting, monitoring and administration for the Merchants we deliver to the financial institution.
Yes. BankLine is responsible to vet Merchant applications to ensure that the company remains in “good standing”, compliant and a proper fit for our financial institutions.
This is, in large part, why the bank partners with BankLine. BankLine’s responsibility is to “match” our Merchants with a financial institutions that is is willing to provide full service.
The bank receives highly qualified, professional and compliant applicant, and our Merchant receives a bank account which is ideally suited for their business and will meet their needs and future growth potential.
Experienced BankLine staff will help you every step of the way, assisting in preparation of the application documents for presentment to one or more banking partners.
We pride ourselves on our commitment to providing the best banking solutions in the industry. BankLine services the Bitcoin banking industry, and we make our customer service available 24/7/365.