Understanding the financial details surrounding cash deposits is crucial for a smooth experience when funding your account. This guide provides a comprehensive overview of how to find and interpret information on deposit limits, processing fees, and estimated transaction times, empowering you to manage your finances effectively.
How to Locate the Cash Deposit Feature
Accessing the cash deposit options is a straightforward process, whether you are using the mobile application or the website. The available local currencies and specific deposit methods will be automatically displayed based on your geographic region once you are logged into your account.
Using the Mobile App:
- From the home screen, tap on the Deposit button.
- Choose the Deposit cash option or select your specific local currency.
Using the Website:
- Navigate to the Assets section from the main menu.
- Click on Deposit and then select Cash or your local currency from the list of options.
Viewing Supported Currencies and Methods
The platform supports a wide array of currencies and local payment providers. To see which ones are available to you:
- Go to the Cash Deposit section within your account.
- A complete list of supported currencies and all available cash deposit methods for your region will be displayed.
A Detailed Look at Processing Fees
A processing fee is a charge applied to cover the cost of handling a financial transaction. We are committed to maintaining low and transparent fees for our users. The exact fee for your chosen method will always be clearly displayed before you confirm the transaction.
Types of Fee Structures:
Flat Fees: A fixed amount charged per transaction, regardless of the deposit size.
- Example: A 3 USD flat fee means you pay 3 USD whether you deposit 10 USD or 1,000 USD.
Percentage Fees: A cost calculated as a percentage of your total deposit amount.
- Example: A 2% fee on a 100 USD deposit equals a 2 USD charge.
Percentage + Flat Fees: A combination of both a percentage and a fixed fee.
- Example: A 1.5% + 1 USD fee on a 200 USD deposit: (1.5% of 200 USD = 3 USD) + 1 USD = 4 USD total fee.
The final fee amount is always shown on the Deposit Preview screen for your confirmation. This amount will be deducted from your total deposit.
Example: If you deposit 10 USD with a 2 USD fee, the net amount credited to your account will be 8 USD.
For a complete understanding of all financial tools and current rates, you can 👉 explore the detailed funding guide.
Understanding Deposit Limits
Deposit limits define the minimum and maximum amounts you can transfer into your account. These limits can apply to a single transaction or a set period (daily, weekly, monthly) and are in place to comply with local regulations. Your specific limits can vary based on:
- The cash deposit method you select.
- Your account verification level (KYC).
When choosing a deposit method, you will see your remaining available limit. You can select the information (i) icon next to any method to view more detailed limit information.
Categories of Deposit Limits:
- Minimum Deposit: The smallest amount you can deposit in one transaction.
- Daily Limit: The maximum amount you can deposit within any 24-hour rolling period. This reset timer starts at the moment of your transaction, not at midnight.
- Weekly Limit: The maximum amount you can deposit over 7 consecutive days, resetting on a rolling basis.
- Monthly Limit: The maximum amount you can deposit within a 30-day rolling period.
- Maximum Deposit (Frequency): The maximum number of deposit transactions you are permitted to make within a defined period.
Estimated Processing Times
Processing time refers to the estimated duration it takes for your deposited funds to be processed and appear in your OKX account balance. While many cash deposit methods are instant, some bank-related transfers can take up to five business days to complete, depending on the transfer type and your bank's processing speed.
The estimated processing time for your selected deposit method will be clearly displayed before you finalize your transaction.
Frequently Asked Questions
How can I see the exact fee for my deposit before I confirm it?
The exact processing fee is always displayed on the Deposit Preview screen, which appears just before you finalize the transaction. This allows you to see the exact amount that will be deducted from your deposit.
Why do my deposit limits change based on my verification level?
Account verification provides more information about your identity, which allows the platform to manage risk more effectively. Higher verification tiers often come with increased limits as a result of this established trust and regulatory compliance.
What does a 'rolling' daily limit mean?
A rolling 24-hour limit means your quota resets exactly 24 hours after each deposit transaction is made. It does not reset at a fixed time each day, like midnight.
Are there any methods that offer instant processing?
Yes, many supported cash deposit methods offer instant processing, crediting your account within minutes. However, traditional bank transfers are not instant and may take several business days to clear.
Is the minimum deposit limit the same for all currencies?
No, the minimum deposit limit can vary depending on the specific currency you are using and the deposit method you have selected. Always check the limits displayed for your chosen option.
Who sets these deposit limits and fees?
The limits are primarily set to meet local financial regulations. The fees are determined by the third-party payment processing partners involved in handling the cash transaction. The platform itself aims to keep these costs as low as possible for users.