Adding Funds to Your Slash Account

Overview

Slash offers multiple funding methods to give you flexibility in how you add money to your account. You can fund your account through a connected bank account, various bank transfer methods (ACH, wire, or Real-Time Payments), international wires, or cryptocurrency transfers using stablecoins.

Connected bank account transfers are limited to once per day with a weekly transfer limit of $5,000. However, additional top-up options are available if you need more frequent or larger transfers.

How to Access Funding Options

To begin adding funds to your Slash account, navigate to your dashboard homepage and select 'Move Money' at the top of the page.

From there, you'll be able to choose your preferred payment method from the options presented. Each funding method will display different prompts and instructions based on your selection.

How to Add Funds to Slash with a Connected Bank Account

This method uses an ACH debit to pull funds directly from your linked bank account. The process takes 1-2 business days to complete, and you're limited to one transfer per day with a weekly maximum of $5,000 total.

Step 1: Select 'Connected Bank Account'

From the 'Move Money' menu, choose 'Connected bank account' as your funding method.

Step 2: Select the Sending and Receiving Accounts

To add a new external bank account, use Plaid to sync your banking details or input them manually. Once selected, choose which Slash account you want to fund from the 'To' dropdown.

Step 3: Enter Transfer Amount

Input the amount you wish to transfer from your connected bank account. Make sure the amount is within your weekly $5,000 limit to avoid any processing issues.

Step 4: Initiate the Transfer

Confirm the transfer to initiate the ACH debit from your bank account. Once confirmed, the funds will appear in your Slash account within 1-2 business days.

How to Add Funds to Slash Using an External ACH or Wire Transfer

This method allows you to push funds to your Slash account from an external bank using domestic ACH or wire transfer. Fees vary depending on your banking provider, and processing times depend on the transfer type you choose.

Step 1: Select the 'Bank Transfer' Option

From the 'Move Money' menu, choose the bank transfer option.

Step 2: Review Your Slash Account Details

You'll be presented with the information needed to complete the transfer. This includes the Slash account to fund, your beneficiary Slash account details, and Column N.A. bank details. Keep this information accessible as you'll need it to set up the transfer through your external bank; you can easily copy-paste or download the details as a PDF.

Step 3: Initiate Payment Through Your External Bank

Initiate the transfer from your external bank to the Slash account details provided. You'll need to enter the beneficiary information exactly as shown, specify the transfer type (ACH, wire, or RTP), and confirm the amount.

Step 4: Wait for Processing

Processing times vary based on your chosen transfer method. Keep in mind that your external bank may charge fees for this service, so check with them beforehand to understand the full cost.

How to Add Funds to Slash Using an International Wire

While sending money from an international banking provider via wire follows a similar process to other bank transfers, there are some additional steps to ensure your transfer processes correctly.

Step 1: Select the 'Bank Transfer' Option

From the 'Move Money' menu, choose the bank transfer option.

Step 2: Review Your Slash Account Details + International Banking Information

You'll be presented with the information needed to complete the transfer. This includes the Slash account to fund, your beneficiary Slash account details, and Column N.A. bank details. Keep this information accessible as you'll need it to set up the transfer through your external bank; you can easily copy-paste or download the details as a PDF.

Step 3: Initiate the Payment Through Your External Bank

Initiate the transfer from your external bank using the Slash account details provided. Enter the beneficiary information exactly as shown. Your 'account number' should be listed as your IBAN, and you'll need to enter the Column N.A. SWIFT code: CLNOUS66XXX.

Step 4: Wait for Processing

Processing times vary based on your chosen transfer method. Keep in mind that your external bank may charge fees for this service, so check with them beforehand to understand the full cost.

How to Add Funds to Slash Using Cryptocurrency

Slash accepts USDC and USDT stablecoins, which are cryptocurrencies pegged to the US dollar. This method requires you to have cryptocurrency in an external wallet. You can use several blockchain networks including Ethereum, Solana, Arbitrum, Avalanche, Optimism, Polygon, Base, and Stellar.

Conversion fees apply for on/off ramping between cryptocurrency and USD, and these fees vary slightly between USDC and USDT. Processing times depend on the blockchain you select, with some networks offering faster confirmation than others.

Step 1: Select the 'Cryptocurrency' Option

From the 'Move Money' menu, choose the cryptocurrency funding option.

Step 2: Configure Your Transfer Settings

You'll be presented with several options to configure your transfer. First, choose between USDC or USDT as your stablecoin type. Next, select your preferred blockchain from the available options. Finally, choose the payment rail for conversion processing fees. Each of these choices will affect the final details needed for your transfer.

Step 3: Review Your Slash Crypto Wallet Information

The system will display a QR code containing your Slash crypto wallet details along with your wallet address in text format. The QR code and wallet address will update automatically based on your selected blockchain, so make sure you've finalized your blockchain choice before proceeding.

Step 4: Review Conversion Fees

Check the conversion fees listed in the menu to the right under the QR code. These fees differ slightly between USDC and USDT, so reviewing them before you proceed can help you make the most cost-effective choice.

Step 5: Send Cryptocurrency from Your External Wallet

Using your external cryptocurrency wallet, either scan the QR code or copy the wallet address. Before sending, verify that the blockchain matches your selection and confirm the stablecoin type (USDC or USDT). Once you've double-checked these details, initiate the transfer from your external wallet.

Step 6: Wait for Blockchain Confirmation

Your funds will appear in your Slash account after the blockchain confirms the transaction. Confirmation times vary by blockchain, with some networks processing transactions in minutes while others may take longer depending on network congestion.

How to Add Funds to Slash Using Real-Time Payments

FedNow Real-Time Payments is a fast and secure way to deposit funds into your Slash account anytime—24/7, 365 days a year. With FedNow, your transfers are completed in a matter of seconds, ensuring you have immediate access to your funds when you need them.

Step 1: Log Into Your Bank's Online Platform

Access your bank's online banking platform through their website or mobile app. Make sure your bank supports FedNow by checking the supported banks list below.

Step 2: Select the FedNow or Real-Time Payments Option

Look for the option labeled 'FedNow' or 'Real-Time Payments' in your bank's transfer menu. The exact wording may vary depending on your banking provider.

Step 3: Enter Your Slash Account Details

Input the required account and routing details for your Slash account. These details should match exactly what's shown in your Slash dashboard to ensure the transfer processes correctly.

Step 4: Specify the Transfer Amount

Enter the amount you wish to transfer to your Slash account and review the transaction details carefully before proceeding.

Step 5: Confirm the Transaction

Confirm the transaction through your bank's platform. Your funds will appear in your Slash account within seconds of confirmation.

Supported Banks and Routing Numbers for FedNow

The following banks support sending real-time payments to Slash via FedNow. This list was last updated on January 28, 2024. If your bank is not listed, you can contact your bank to ask if they've updated their support for real-time payment; if not, you may need to use an alternative funding method such as ACH transfer or wire transfer.