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Frequently Asked Questions

get answers to the most common inquiries

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.

Simplifying the banking relationship

Do funds collected at my location need to be sent to BankLine?

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.

How long does it take to open an account?

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.

Is there any special hardware that I need in order to transact business, in addition to my existing ATM machines?

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.

How much time does it take for my funds to clear?

Funds are made available within 24 to 48 hours of reception at the partnering bank.

Are there any limits to the amounts I’m able to send or how often I send funds?

There are no limits to the number of transactions or deposits to/from the partnering depository institution.

Does BankLine require Merchants to provide ongoing, transaction-level monitoring of our ATMs?

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.

Does BankLine require the right to audit our company's and/or customers tax returns and/or on-going financials of the business?

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.

Still Looking For Answers?

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.

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Trusted By Top Bitcoin Kiosk Operators

BankLine is the only Bitcoin-friendly banking solution that offers a portfolio of redundant Bitcoin-friendly depository institutions willing to serve the varied needs of the virtual currency Industry. Our network of Bitcoin-friendly banks and services helps protect from the threat of bank discontinuance.

BankLine provides banking services to Bitcoin ATM operators, supporting hundreds of locations throughout the United States and its territories.  Our services facilitate business operations and growth, regardless of where a Bitcoin ATM Kiosk is located.

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800-409-1647

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© Copyright 2017 BankLine, LLC. All Rights Reserved.

Open An Account Today

© Copyright 2017 BankLine, LLC. All Rights Reserved.