Crowded Banking Transition FAQ

  • Crowded Banking Transition FAQ

    Posted by Anthony Harden on May 24, 2024 at 6:42 am

    1) If I transfer funds from Iota BIP, will the funds make it to my account? – Yes. It will appear once the funds arrive. To ensure BIP funds reach your crowded account, please hold off withdrawing until the transition period has concluded and the Office of the IGT can send a letter with additional instructions.

    2) Do I have to change apps? No. Your crowded application is remaining in place. No additional app downloads or setups required.

    3) I received an email from Crowded asking to transition by account. Do I need to complete the transition process per Crowded’s email? Yes. Though the National Office has signed to transition all accounts over, please move forward with accepting the transition terms to ensure your account is restored timely. The transition process takes approximately 24 – 48 hours. If your funds are not restored within this timeframe, please contact BFC@IotaPhiTheta.org.

    4) Can you explain the transition process? – Yes. You will see a transaction from CounterParty remove all of your funds from Crowded. You will also receive an ACH Transfer email if you are the Account Owner/Administrator on the account. After 24 – 48 hours, you will see UNIT re-deposit the funds back to your Crowded account. If your funds are not restored within this timeframe, please contact BFC@IotaPhiTheta.org.

    Anthony Harden replied 1 month ago 1 Member · 0 Replies
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