From your Dashboard you are able to view the current status of your bank transfer (referred to as an EFT transfer, where EFT stands for 'electronic funds transfer') as it makes its way from your bank to Beaver Bitcoin. A description of each status is below.
Your Dashboard, showing the status of your first transfer as 'In Progress | Date Pending'
'In Progress | Date Pending'
When you first complete the onboarding process and navigate to your Transfers feed, you will see your first transfer with the status 'In Progress | Date Pending'. This means your transaction has entered our queue, but we have not initiated the transfer yet.
'EFT in Progress'
We have sent an EFT request to your bank for the CAD value of your weekly buy. We will typically receive the funds within 2 days, but it can vary between banks.
'EFT on Hold until [DATE]'
We have received the funds, and will hold them for 3 days as a fraud prevention measure and to ensure the funds are not returned as NSF (insufficient funds).
'Cleared for Purchase'
After the three day hold your funds are ready to be converted into bitcoin on the day of this status change. You will be receiving your bitcoin on this day.
Funds have been converted into bitcoin, and the bitcoin has been delivered to your wallet. You can now view your completed purchase in the 'Purchases' feed of your dashboard.