Wire transfers generally take a few business days to successfully complete and reach your bank account. However, in some instances, wire transfers can be slow to arrive. Some banks may hold the funds you've withdrawn from Dapper for a period of time before releasing them to your bank account. These kinds of delays are difficult to predict and depend on the bank.
Note: Your statement may not specifically mention “Dapper Labs” when your funds are received. Rather, your statement may mention “Silvergate Bank/Circle” or something specific to your financial institution.
How this may look on your statement:
Other times, wire transfers can fail due to a variety of reasons, such as:
- The bank account number entered may be incorrect or incomplete. Please note: entering an incorrect bank account number could result in wire transfers being sent to the wrong bank account and funds being permanently lost. Please ensure the information you enter is correct.
- The bank entered may require additional information such as “Further credit to” or “Beneficiary Account” to complete a wire transfer. Currently, we don’t support these details.
- The routing number being entered is incorrect. If your bank provides more than one routing number, please use the one for Domestic wire transfers and not Automatic Clearing House (ACH), direct deposit, electronic transfer, or anything else. Using a routing number other than the one for Domestic wire transfers will cause your transfer to fail.
- The vast majority of banks based in the US, UK, and Canada accept wires without issue. However, there are some financial institutions & routing numbers that have had problems receiving wire transfers from our payment processor. This list can be found here.
- The name entered may not match the name the bank has on file. Wire transfers can only be sent to bank accounts in your name. Be sure to use your personal bank account, as wire transfers to business accounts may be returned. Wire transfers made to a joint bank account may also be delayed or returned.
That being said, if you have received a withdrawal confirmation email from us more than 2 weeks ago and have yet to receive the funds in your bank account, please get in touch with our support team here.
We also suggest carefully double-checking the information you've entered and letting your bank know that you're trying to do a domestic wire transfer. They'll be able to help you verify any details. If needed, follow the instructions below to update the bank details on your Dapper Account:
1) Open the Payments & Payouts page of your Dapper account.
2) Delete your saved bank account by clicking the trash can icon.
3) Add your banking information, and submit.
It can take a minute for your bank account details to save, so please wait a short while for the information to process before completing your withdrawal request.
Known Bank Issues
Finally, a wire transfer can also fail if your bank does not accept wire transfers from Dapper. You can find a list of banks that are experiencing difficulties receiving wire transfers from Dapper here.
Note: Some smaller banks may require additional information such as “Further credit to” or “Beneficiary Account” to complete a wire transfer. Currently, we don’t support these details, but we are working to add both in the future.
For more information on the general Dapper withdrawal process, check out this article.