When you open an order and choose for the bank transfer payment option, we lock the price for you for 15 minutes. Within these 15 minutes you can log in to your online banking or go to your local bank and transfer the funds to us. To verify that you have actually made the transfer we ask you to provide us with a proof of payment. This can be a screenshot of the online transfer or a picture of the receipt you receive from your bank. Upon receipt of the proof we go ahead and execute your order on the exchange.
Your coins will be sent as soon as your payment has cleared. Since your order has already been executed you don’t miss out on potential gains when the price is rallying in the 1-3 business days it takes for your payment to clear. If the bank transfer payment is not received within three business days by BTC Direct, then BTC Direct will be entitled to cancel the transaction.