15 Aug How to deposit SGD to Gemini
Latest from Gemini staff (Jan 12):
Disclaimer: This is the latest info from Gemini (Click image to enlarge!). For those of you who are using this, would appreciate if you can confirm whether it works in the comments below, thanks!
While CoinHako and Coinbase are convenient and easy to use, people are looking for a cheaper alternative to buy Bitcoin/ETH with SGD. This is a guide for people who are looking to buy Bitcoin at a lower price.
Gemini is an exchange started by the Winklevoss twins. Account opening and verification takes around 2 days if you send in proper documentation.
Adding bank account to Gemini
The first step is to add a bank account to Gemini. Personally I used the USD(Bank Transfer).
You will then receive an email with the instructions on how to transfer to their Gemini account.
Transferring SGD to Gemini
The best way to transfer to Gemini is to use DBS Remit, $0 fees and same day transfer (Disclaimer: I am not an employee of DBS).
For the fields:
Recipient name: “Gemini Trust Company LLC”
Address: “600 Third Avenue, 2nd Fl
New York, NY 10016
United States Of America”
Recipient bank: Choose “Other banks in United States”, and the Swift Code is “PCBBUS66”
Recipient account number: 1000808012
Clearing code: “322286803”
Please remember to include the unique letters assigned to your account under “memo” or “instructions”. For timeline, I deposited SGD before 2pm, and I got the money in my Gemini account at around 11.30pm.
If you are looking for a fast way to buy Bitcoin/ETH with SGD, you can refer to my previous article here.
*Disclaimer: Please verify all the fields in the TT before making the transfer. We will not take responsibilities if the information for Gemini changed.
Comparision of Coinhako vs Gemini
Coinhako – 0.9% trading fees (use code “COINGECKO to reduce it to 0.7%) + FX
Gemini – 0% remittance fees + DBS FX + 0.25% trading fees
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Mike
Posted at 17:38h, 27 MarchHi Pennywise!
Could you provide some final clarification about a working method through DBS REMIT? The method you describe is outright said to be wrong in the screenshot you provide, thus confusing… and there are various different success and failure stories littering the comments.
Thanks a lot!
wuffle
Posted at 18:30h, 27 MarchHi Mike, the steps listed by me works – I just tried it few days back.
The screenshot is by a Gemini staff, who was bothered by the number of people complaining (but probably they entered the details wrongly)
Mike
Posted at 20:50h, 27 MarchHi Wuffle,
Just FYI I also found this:
https://gemini24.zendesk.com/hc/en-us/articles/115004710066-What-is-the-difference-between-ACH-and-Wire-Transfers-
So caused further confusion for me. In the end, bank transfer works (as per your instruction) or do we need to set as wire transfer?
As of now I am also testing, waiting to see results of the DBS remit.. Hope this helps clarify for others and save from unnecessary delays/fees.
LS
Posted at 17:17h, 27 FebruaryJust sharing my experience, it might be helpful to someone in similar position.
For those who had made a transfer with the incorrect transfer details (in my case, I used the old SSI where Pacific Coast was the bene bank), you can actually go down to any DBS bank to amend your remittance details before the bene bank has returned the funds. There is a SGD$30 charge on the DBS end and a USD $25 by the bank that had received your funds. This make sense for those who are remitting a considerable amount and would be hit by hefty FX losses shall funds the funds end up being returned.
daniel
Posted at 09:00h, 02 FebruaryI transferred using ‘clearing code’ column filled with 121042484 (Pacific Coast ABA). On the message column, I wrote: “Credit to Silvergate Bank (ABA 322286803, account no 1000808012). Memo XXXX”
It seems like the handler on Pacific Bank is still human (to understand and read the message). so my money transferred at 5AM Singapore time, went in to Gemini by 10 PM.
After reading this, I’d probably put Silvergate ABA for the clearing code.
Shaiful
Posted at 07:52h, 27 JanuaryGuys,
This one works!
Use wire transfer.
Gemini Trust Company LLC
Account number: 1000808012
600 Third Avenue, 2nd Fl
New York, NY 10016
United States Of America
Recipient bank: Choose “Other banks in United States”
Receiving Bank : Silvergate Bank
Swift Code : SIVGUS21XXX
Leave blank for clearing code.
Try 1 or 2 small amount first like $10.
So far if send before 5pm deposit cleared overnight by 2-3am.
Cheers!
Kirsten
Posted at 00:21h, 25 Januaryokay… sent out payment using the original instructions (without a clearing code) last 18 January 2018 and the funds got returned on 24 January 2018. Trying my luck now with clearing code 322286803. crossing fingers it won’t bounce back because damn, the bank is making a killing with these fees.
Yong SH
Posted at 20:51h, 25 JanuaryDear all,
i have applied to Gemini abr a week ago. it seems like it is taking forever to verify my identity. May I know how long does it take for you guys?
i wrote an email to them today. but i can sense that the reply wont be quick either. what can i do?
as a result, i cannot do the bank transfer, when i clicked it, it says something like “pending identity verification”.
Kirsten
Posted at 00:23h, 26 JanuaryUpdate. I sent a wire transfer using ABA/ Clearing code:322286803 about 0:30 hrs on 25 Jan. Funds just came in (Jan 26 0:20 hrs)
next2perfect
Posted at 04:36h, 23 JanuaryFollowed the original instructions ie., used the routing code 322286803 deposit was cleared overnight. Going to try another amount for the next two days to see if it is consistent.
jay
Posted at 21:55h, 21 Januarycan anyone confirm the aba / clearing code is 322286803?
atay
Posted at 17:00h, 18 Januaryhi all,
i just used your original method and it went thru without a hitch.
in fact the transfer was done at 8pm SG and it went thru the next day at 8am. So it processes quite quickly at night as well.
CryptoKnight
Posted at 12:10h, 17 JanuaryThe picture you provided shows wrong information, think the CSO might have made a mistake… i used the 3xx clearing code and it went through… your original write up has all the correct details… i just transferred on sunday with the details u gave and it still went through… anyone can confirm too?
concerned
Posted at 18:09h, 18 Januaryhi i use the other clearing code it went through, seems like it is a hit and miss?
Dexter
Posted at 01:16h, 13 January@’concerned’, do u mind saying which “other clearing code” you used?
And if its a DBS remit, would it be the “BANK transfer” or “WIRE transfer” tab?
SOMEONE please help 🙁
concerned
Posted at 18:10h, 18 JanuaryABA 121042484
TMatt
Posted at 00:16h, 12 JanuaryHi all,
Would like to check what is the “unique letters assigned to your account” to be included under memo?
Confused
Posted at 11:57h, 11 JanuaryHi, so anyone can give us a update on what are the correct ABA numbers etc?
zenn
Posted at 20:56h, 09 JanuaryI did all the same steps that i used to do, to transfer money to gemini. But it FAILED.
After many weeks, I finally recieved my money back in my DBS account.
but it got deducted almost 500 dollars, anybody know why or encounter the same issue?
concerned
Posted at 00:51h, 11 Januaryuse the other clearing code it went through for me
EvilC
Posted at 14:01h, 11 JanuaryI had sent a transfer in November with ABA 121042484 and it went through overnight with no issues.
I sent another one on 8th Jan as it was already registered in my DBS bank account as a payee and all i did was to add the “memo”. This time it did not go through.
Meanwhile my friend has sent another one but he used ABA 322286803 and he got it overnight.
Now my funds are stuck. Got confirmation sms from DBS bank that funds transfer is successful but not showing up on Gemini yet. Went to the local branch and they said that it is out of Singapore. Need to send a tracer request or cancellation request or wait for funds to come back automatically and she said charges depends on agent banks.
The instructions in the Gemini webpage for deposit USD wire transfer is not the same as the one sent to your email. Very confusing indeed…
Cannot edit the payee details in DBS. must delete payee and create from scratch.
atay
Posted at 17:02h, 18 Januaryi did the same in the past. when initially created and transferred, there was no issue.
however, when i tried to repeat it with the existing account, it couldnt go thru.
i realised that by deleting the existing account and recreating the receiving account did the trick.
no issues so far. just delete n recreate.
EvilC
Posted at 10:00h, 23 MarchUpdate: I had to spend 35 SGD to send a tracer and amend the wire transfer to reflect Silvergate bank clearing code and then it was in my account a couple of days later.
I just did a transfer recently and so I deleted the favourite payee in DBS and created a new one with the following details and it worked like a charm. Funds were in my account by midnight.
SWIFT CODE: SIVGUS21XXX
BANK: SILVERGATE BANK
BRANCH: left blank
Recipient’s account number: 1000808012
Clearing code: 322286803
Payment details: INTERMEDIARY BANK SWIFT: PCBBUS66
Memo/Ref ___________
keyed in the ref given by Gemini.
Dexter
Posted at 01:08h, 13 January@’concerned’, do u mind saying which “other clearing code” you used?
And if its a DBS remit, would it be the “BANK transfer” or “WIRE transfer” tab?
Bumpy
Posted at 01:06h, 01 JanuaryI got my wire transfer stuck as I transferred more than the initiated amount. Now deposits still pending. Not sure how to deal with this… Sigh
Glenda
Posted at 15:15h, 31 DecemberFunds been missing since dec 23rd. Today’s the 31st. Read about the ABA routing no to use now is 3xxxx. So why do they still provide the ABA no 1xxx in its instructions for wiring? It’s too confusing! I can’t remember which I use now (and if that’s the problem) but funds not back in DBS. And Gemini support hasn’t replied! Any advice?
concerned
Posted at 18:43h, 30 DecemberI used the 3xxxx clearing code it got bounced back 3 out of 5 times only 2 went through…
Andrew Lee
Posted at 02:17h, 29 DecemberHi,
I just got my ID verified and I need to set up the bank account for transfer. Can someone clarify what do I need to enter in the following fields (the first screen of account set up):
1. Customer Name on Bank Account
2. Checking / Savings
3. Bank Account Number or IBAN
4. Swift Number
5. Deposit Amount
Are the above fields pertaining to my SG account (aka source account)?
Why is there a need for the Deposit Amount?
Thanks!
Andrew
lightry
Posted at 08:54h, 24 Decemberhi there,
I made a similar DBS Remit wire of $2000 to Pacific Coast with Silvergate’s account number – 1000808012. However, I accidentally left out the ABA/Clearing code as the field said ‘optional.’
Do you have an idea of what happens to the funds then? My current options are to head down to the bank to place a tracer/amendment but I was wondering if the funds will get returned to my account eventually because the information was incomplete.
my last hope
Posted at 23:29h, 04 JanuaryHey, so did Pacific Coast return you the funds? If it does, could you please tell me how?
leo
Posted at 02:36h, 11 Januaryyeap it does just wait mine took from 23dec till 8jan a long wait
Qz
Posted at 00:57h, 22 DecemberHi, does anyone have the same problem as I am facing? I did exactly as the instructions directed over here but didnt put the aba number as it was optional. Havent got my funds deposited even though it has been 2 days. This is really frustrating.
Poor soul doing your rejected funds
Posted at 11:55h, 21 DecemberGuys please stop using Pacific coast’s aba number when you do the remit thru ibanking. Til now there are plenty of rejections because of this ABA number.
Because of this issue we are flooded with rejections. Inevitably will take longer to return the funds back to your account.
If you are transferring large sums from your SGD account and think that the funds are rejected, suggest you open a multi currency account and go to the branch to submit a cancellation request to credit returned funds in USD to that multi currency account. Or not you’ll suffer the fx loss
chewy
Posted at 00:31h, 21 DecemberI sent USD$20,000 yesterday (20 hours ago) and it wasn’t received. Given that no information has changed at all (account number, clearing code, etc), I have no idea what happened.
I’m going to the bank today to put a trace on it.
21 Dec 2017, 08:31am
Qz
Posted at 01:56h, 22 Decemberany news?
Omnis
Posted at 08:44h, 22 DecemberI did a transfer on 14 Dec and funds did not go through as usual. So got a bit worried and emailed Gemini’s support but did not get any replies. So I messaged them on Twitter and got a response quite fast. Support wasn’t that great and was intending to go to DBS to put a trace but lo and behold, my funds were returned to my account this morning. 5 working days after I made the transfer.
Hope this helps whoever is having issues with the funds transfer!
See you on the moon!
Ming
Posted at 16:46h, 29 DecemberWhat’s the chances a trace is useful?
My deposit has been done for a week and it’s still not in yet.
Ive done previous transactions to Gemini and this is the first time I’m having issues.
Contacted Gemini and they insisted that the funds did not reach them, so I have to contact my bank.
It means that if my banks cant find anything from the trace, my money is just gone this way??
concerned
Posted at 18:43h, 30 Decemberany luck with your transaction?
G
Posted at 15:20h, 31 DecemberDid you manage to trace the $?
KK
Posted at 08:55h, 01 JanuaryHi,
Have you gotten your funds to your DBS account. I used the wrong clear code 1xxx on 26th Dec, still waiting for my funds to come back.
Jintu
Posted at 11:43h, 01 JanuaryContact dbs and ask them to contact pacific coast bank. I received my money back in 3 days doing this
KK
Posted at 16:26h, 01 JanuaryThanks Jintu, will drop by the branch in the moring to do an amendment SGD30, to send the correct clearing code, hopefully the funds is still at PCB and they can send it over to Silvergate (Gemini).
Leo
Posted at 18:03h, 05 JanuaryHi KK did you manage to get your money back through Jintu’s method
Qz
Posted at 13:44h, 08 JanuaryI have gotten back my funds less SG$1000+ because I transferred US50k. ):
Kevin
Posted at 06:23h, 19 DecemberBest of luck to those who are receiving their funds after the failed wire transfers. Bank will charge you their non-refundable remittance and FX rates for converting USD back to SGD. Definitely won’t be a pleasant sight to see if you have transferred a large sum of money to Gemini.
Beginners Guide to Cryptocurrency in Singapore (Bitcoin) - Mathew Lwee
Posted at 06:23h, 16 December[…] Gemini – https://gemini.com/ is a US based exchange opened by the Winklevoss twins whom are also the first Crypto Billionaires in the world. They operate similarly to CoinHako except for that you have to do a Bank Transfer from POSB or OCBC Remittance and undergo USD conversion. For a step by step guide, please look on Pennywise https://pennywise.sg/deposit-sgd-gemini/ […]
John Doe
Posted at 18:49h, 13 DecemberSeems like many of you are confused with which ABA routing number to use and how the whole thing works.
In a nutshell, there are FIVE PARTIES in this fund transfer and they are you, DBS, Pacific Coast Bankers’ Bank, Silvergate Bank and Gemini.
When you want to transfer your fund from DBS to Gemini, you need to send to Pacific Coast Bankers’ Bank which is the MIDDLEMAN.
PCBBUS66 is the SWIFT code for Pacific Coast Bankers’ Bank (aka the middleman). You can google the SWIFT code and it points to Pacific Coast Bankers’ Bank.
Now this middleman needs to transfer the fund which they have received from DBS to Silvergate Bank. In order to do this, Pacific Coast Bankers’ Bank needs to know the ABA routing number of Silvergate Bank and this is where you need to put in Silvergate Bank’s ABA routing number 322286803 during your fund transfer in DBS.
Once Silvergate Bank has received the fund sent by Pacific Coast Bankers’ Bank (aka the middleman), they will debit it into Gemini’s account 1000808012.
Hope this will clear up some confusion here.
questioner
Posted at 21:20h, 21 DecemberWhy does the ABA routing number (121042484) for Pacific Coast Bankers’ Bank work previously, but not now?
vik
Posted at 05:42h, 11 DecemberHi Admin, I tried last week but the funds were rejected by the receiving bank (previously I could). Has there been any changes to the address or other details , etc? kindly advise, thank you.
wuffle
Posted at 12:53h, 11 DecemberHi, the clearing code has been updated.
Clearing code: Pacific Coast ABA Routing Number “322286803”
arlene
Posted at 10:51h, 12 Decemberwhat is the difference of “ABA routing number” of Intermediary and Receiving bank?
Intermediary:
Pacific Coast Bankers’ Bank
Walnut Creek, CA 94596
ABA routing number: 121042484
Receiving bank:
Silvergate Bank
ATTN: Treasury Department
ABA routing number: 322286803
Trav
Posted at 02:16h, 14 DecemberDo not use the ABA routing number: 121042484. I tried that and the money was not transferred to my Gemini account. It was returned back
Jintu
Posted at 13:54h, 16 DecemberHow many days did it take for you to get the money back??
GBT_BIT
Posted at 08:22h, 19 December@Trav can you share how was your money returned back to you. I have same problem. I wired transferred and DBS says it was successful but it is still pending in Gemini for days. Thanks.
Simon
Posted at 03:21h, 11 DecemberI’ve transferred SGD 1,357.30 to Gemini but have yet to receive the amount in my Gemini Account. DBS had already confirmed that payment had been made. Have tried to contact Gemini team but no response so far.
Dongni
Posted at 02:16h, 12 DecemberI am in the same situation as you . How many days has it been.Pacific Coast Bankers ABA routing number i received in the email is 121042484 which seems to be different from the one here. Could it have anything to do with that ?
arlene
Posted at 10:54h, 12 Decembersame to me, i transferred using DBS yesterday (dec.11) 10:58 AM. until now there’s no fund transferred. last week the transferring was ok, but now I dont know. have you emailed the gemini support? thanks
Terry
Posted at 13:39h, 12 DecemberI suspect it is due to the change of ABA routing number, I am using 121042484 as well did not receive the fund since 7th Dec 2017. If the remit fail, I wonder do we get notification for that and does pacific bank automatically reroute the fund back to us.
Anyone here please update if the fund have reroute back to sg account.
Small
Posted at 15:42h, 12 DecemberI sent on 7 Dec using the ABA 121042484. It got reverted to the DBS account on 12 Dec night. The reverted amount was less SGD7.
Terry
Posted at 06:38h, 13 DecemberUpdate, it seems the aba routing number 121042484 is wrong. My fund has been remit back to my bank acc. Same as you slightly lesser than what i remitted was return, most likely is the banking fees.
Anyone can confirm the new banking details?
Previously i am using pacific coast banker’s bank swift number and aba routing 121042484, so now if i were to remit to gemini i should use aba routing 322286803 but still the same swift number?
Ben
Posted at 14:30h, 14 DecemberI sent on 8 Dec using the ABA 121042484, haven’t gotten back my money. Contacted both Gemini & Pacific Coast Bankers’ Bank. No reply so far, any kind souls can share if they will refund our money back?
GBT_BIT
Posted at 07:53h, 19 DecemberI have same problem. How can we retrieve the money? I can see from Gemini website the transaction and it is still Pending. Can we click the “cancel” under Action?
keith
Posted at 02:50h, 09 DecemberThe clearing code that you put in this article is Silverbank’s ABA routing number and not what you stated as Pacific Bank’s
Pacific Coast ABA Routing Number “322286803”
Please clarify.
Anthony
Posted at 05:02h, 12 DecemberYes it seems that 322286803 is silvergate banks’ routing number instead . Which do we use ?
Justwannahelp
Posted at 07:52h, 12 DecemberHi, please use silvergate’s ABA. Pacific coast doesn’t accept those that use ABA 1xxxx anymore .
Source: I work in the bank
Justwannahelp
Posted at 07:53h, 12 DecemberTo add in, Gemini’s account is with silvergate. Pacific coast is just silvergate’s intermediary bank
Vince
Posted at 09:03h, 12 DecemberThe problem is they havent notified anything. It wasnt even rejected from Pacific Coast. Will it still be routed back to us?
Felix low
Posted at 21:21h, 12 DecemberWow. Same issue here. I have over 30k usd that has been missing since 5 dec…..
And gemini support is so bad.
Anyone got their money back?
Vince
Posted at 15:31h, 13 DecemberI believe they just rerouted back my deposit this morning. Had initiated another transfer using the correct routing number now, awaiting for it to go into my gemini account.
steve
Posted at 17:26h, 13 DecemberVince – any luck using the new routing number (322286803)?
Felix low
Posted at 20:17h, 13 DecemberHave since sent two deposits using the aba number starting with 3. Transferred by 5pm and deposits appeared within account by 1am. It works.
Leonard Lim
Posted at 01:32h, 14 DecemberI deposited to Gemini on 7 Dec 2017 morning using 1xxxx routing number. Fund not showing up on Gemini. Fund not returned to DBS. Whereabout of fund unknown. DBS says no returned funds. Gemini did not reply to my repeated emails.
Anyone faces the same thing?
Trav
Posted at 02:11h, 14 DecemberShit, I used the Pacific Coast’s ABA. I haven’t gotten back my money.
Trav
Posted at 02:21h, 14 December@Leonard Lim, I just got back my money, took them 3 days (11 Dec to 14 Dec) to return the money.
Leonard Lim
Posted at 06:34h, 14 December@Trav, good for you. Can just resend using the 3xxx ABA.
It’s been 7 days for me since 7 Dec and I still don’t know where the hell is my $$.
SK
Posted at 07:10h, 14 DecemberHello,
So which shift code should I give now?
Please could you clarify the steps.
Recipient name: “Gemini Trust Company LLC”
Address: “600 Third Avenue, 2nd Fl
New York, NY 10016
United States Of America”
Recipient bank: Choose “Other banks in United States”, and the Swift Code is “PCBBUS66”
==> Should we need to give Silver Gate Swift code now instead of PCBBU66? Or Dont need Swift code?
Recipient account number: 1000808012
Clearing code: “322286803”
This above two remains same right?
Jintu
Posted at 02:12h, 21 DecemberHi,
Could you please advise if there is a chance to get the money back??
GBT_BIT
Posted at 03:58h, 21 DecemberAfter waiting for few days, I got my money back. I wired transferred using the ABA 121042484 on Dec 14. I became nervous when I read this thread regarding the update of clearing code. Tried to email Gemini many times but no response. Fortunately, they returned back my money on Dec 19th automatically w/o any notification. I just checked my POSB transaction history. The bank code is ITT ( Inward Telegraphic Transfer). My money was less S$10, so i believed that’s for the charges.
Then I tried to wire transfer yesterday afternoon (Dec 19). I amended in POSB recipient details, now using the ABA 322286803 and it reached to my Gemini wallet this morning.
Gary
Posted at 14:36h, 03 DecemberVery useful guide, but I’m still confused. So first step is to click on Gemini’s bank settings and input our own DBS local bank account info or DBS remit account info? If DBS remit account info, where do I find it?
HC
Posted at 22:12h, 26 NovemberHi Wuffle,
I am trying to setup my USD(Bank Transfer) but there is no button on Gemini Bank Settings page and it only directed me to creating Wire Transfer. Instead I created USD (Wire Transfer), is there a difference? or any other additional charges or notes that I should look out for?
Regards, HC
wuffle
Posted at 16:59h, 27 NovemberHi HC, both USD wire and bank transfer are the same.
Cheers,
Jun Yi
Jonathan
Posted at 05:44h, 19 NovemberHi i have deposit money to gemini by DBS remit, since 2 days ago and still did not see any money in my account at gemini. Anyone able to advise? should i contact gemini customer support?
wuffle
Posted at 14:21h, 19 November2 days ago was Friday. They don’t work on weekends
Jonathan
Posted at 03:24h, 20 Novemberok, thank you very much for the response. DBS just sent me a confirmation that my funds have been successfully transferred over. Any idea when it will be reflected in Gemini account? Maybe 1 working day?
Vince
Posted at 17:47h, 10 DecemberI also sent mine just last friday around 10am KL/SG time, and received confirmation that my transfer was successful, however till now it hasnt reflected yet in my Gemini account. Could there be something went wrong with the transaction? I followed the guide provided above and indicated the unique letters assigned to my account under “memo” or “instructions”.
wuffle
Posted at 12:53h, 11 DecemberHi, the clearing code has been updated.
Clearing code: Pacific Coast ABA Routing Number “322286803”
Terry
Posted at 14:23h, 11 DecemberMay I know how your side resolve the fund issue?
I did the same wire transfer to Gemini as well on 7th Dec but up to date I have yet received the fund. Contacted them but have yet receive any reply.
Anton
Posted at 02:30h, 12 DecemberI transferred money last December 7 at 2am. DBS has confirmed on their side. The money still hasn’t reflected on my Gemini account. its been more than 3 business days already. I sent a note to their customer support. No reply yet. Getting Anxious.
Leonard Lim
Posted at 06:36h, 14 December@Anton, have you got back your money?
I also sent fund on 7 Dec. My money is neither in Gemini nor back to DBS. WTH.
How to buy altcoins - Pennywise Guide
Posted at 13:33h, 14 November[…] my previous articles, I mentioned about buying Bitcoin and Ether with SGD in Gemini or local exchanges like Coinhako. After buying the biggest 2 coins (in terms of market cap), the […]
Jay
Posted at 05:11h, 06 Octoberhow to withdraw ? do they send the money to our local bank ?
Guide on buying cryptocurrencies in Singapore - PennyWise - Buy Ledger Nano S, Ledger Blue, Trezor
Posted at 16:47h, 14 September[…] Gemini (USD but cheapest option now) […]
Hendrick
Posted at 06:09h, 13 Septemberwhat’s the withdrawal process for Gemini?
Any charges and how long it takes?
wuffle
Posted at 03:05h, 14 SeptemberI just withdrew! Will update with another article
RL
Posted at 07:40h, 06 Septemberhi,
i just deposited into gemini account , now it has been almost 24 hours i dont see the money reflecting in my account but dbs stated that it has confirmed that it went it. how do we go about it?
wuffle
Posted at 03:05h, 14 SeptemberHello,
Some deposits might take longer as Gemini has a backlog as well
Dongni
Posted at 04:59h, 12 DecemberI am in the same situation as you . How many days has it been.Pacific Coast Bankers ABA routing number i received in the email is 121042484 which seems to be different from the one here. Could it have anything to do with that ?
arlene
Posted at 10:59h, 12 DecemberI think, there should be no issue with clearing code/routing as this is optional when you add a bank account in DBS .. I have been using ABA routing number: 121042484 ever since. All my transferring was OK except this Dec 11, which is not yet transferred to my Gemini account.
Anyone of you emailed Gemini Support about this?
steve
Posted at 00:13h, 13 DecemberI had previously sent 2 deposits in as many weeks and I received the money within 24h. On my end, there was no option to enter an ABA code just the BIC / SWIFT code and Account number. Given that none of those have changed, my 3rd deposit was rejected and automatically returned to my account. It was sent last Friday and returned on Tuesday. After finally getting a reply from Support, they said they couldn’t see the funds in their account and my bank says the transaction was successful, meaning the clearing bank is the issue in all of this.
Not sure what to advise at the moment since I can’t seem to get a clear explanation from Gemini or my bank. Reluctant to resend but glad I at least got the money back so quickly.
Wayne
Posted at 05:07h, 28 AugustFor the ABA Routing Number, we use the Pacific Coast one ?
There is another one given for the receiving bank and it appeared at the top in the pop-up together with the SWIFT code and Recipient account number.
For deposits of higher amounts (>$1K USD), would it be cheaper to remit using TransferWise/WorldFirst ?
wuffle
Posted at 17:53h, 28 AugustHello, I’ve not tried TransferWise so I cant advise on that. Yes use the intermediary Pacific Coast Bank.
Leonard Lim
Posted at 02:52h, 03 SeptemberHi
Gemini will not accept remittance originating from a third party. They check that the deposit is coming from your registered account indicated in their account settings.
Regards.
Vincent Tan
Posted at 11:23h, 25 AugustHi,
Based on your guide, I opened an account with Gemini today. However when I selected Singapore as my country of residence, the system said that Singapore is currently not supported. But under their areas of operation, Gemini has stated very clearly that Singapore is one of the international areas that they operate.
May I know do you encounter this issue when you register?
Thank you.
Leonard Lim
Posted at 02:55h, 03 SeptemberHi
As a fellow Gemini accountholder from Singapore, I opened my account with them in August 2017 and did not encounter any problem. You may wish to send an email to them.
Regards.
Leonard Lim
Posted at 06:23h, 24 AugustJust to update and share.
I sent my USD fund to Gemini via DBS Remit before 3pm SG time. It took less than 10 hours for the fund to reach and be reflected in my Gemini account.
Regards.
Martin
Posted at 14:37h, 24 SeptemberHi
Quick question
So DBS Remit only works for 4 banks (ie Zero fees for CitiBank, Bank of America, Morgan Chase, WellsFargo).
And Gemini’s bank is not one of these 4 , how did you manage to use DBS Remit and how did you get it done in a day?
I had to pay a USD 18.45 fee just to send the money there
Leonard Lim
Posted at 02:14h, 07 OctoberHi
By selecting DBS Remit (not the usual overseas transfer) and sending USD to Gemini in USD, DBS should not charge you for handling commission and cables (SGD 5 + SGD 20 = approximately USD 18.45 based on today’s rate).
For USD outward payments, DBS routes the USD deposit through Bank of New York to Gemini’s bank. By initiating your deposit before 5 pm SG time, the deposit will be received by Gemini’s bank when US starts work; if no public holidays and other complications the fund should reached within a day.
Nel
Posted at 12:57h, 16 OctoberHi
Appreciate the info given above. I am also an exisiting user of the DBS Remit service and so far the process has been done in less than 12hrs.
However I would like to clarify if it is unusual for a deposit done over a Sunday morning (first time doing so) to still be pending in my Gemini account right now, and if so how long should it take before the funds are deposited onto my account, thank you.
Leonard Lim
Posted at 01:50h, 17 OctoberHi
As a follow Gemini user, so far them have been quite efficient. If you sent a deposit on a Sunday, you need to wait for the US bank to open on Monday (our Monday night) to process the pending payments accumulated over the weekend. Give them another 24 hours to clear your deposit. If two days later still no credit you may then want to send Gemini a support ticket.
Leonard Lim
Posted at 06:24h, 23 AugustHello
I was trying to pay Gemini via DBS Remit.
However, after the fields Recipient’s Account Number and Clearing Code (Optional), there was no other field (memo/instruction) to enter the unique letters assigned to me for the deposit.
Can you advise? Thanks.
Leonard Lim
Posted at 06:28h, 23 AugustMy bad. I cancelled the transfer, went out and initiated a new DBS Remit transfer again, the field Payment Details for Recipient(if any) appears for me to fill in the unique letters.
Best Regards.
Leonard Lim
Posted at 00:16h, 19 AugustVery helpful guide! So when you did the DBS Remit, you totally left out the Gemini-provided Receiving Bank info but entered the Intermediary Bank info instead?
Regards,
Leonard
wuffle
Posted at 06:12h, 19 AugustHello Leonard,
Yes receiving bank information was not needed.