Once we know a little bit more about you (in other words, we've verified your identity), you can deposit funds into your USD wallet in a few simple steps.
Note
You can buy cryptocurrency with the money you've deposited, but you won’t be able to withdraw or send funds from your Luno account for up to 3 business days.
This is a security precaution to make sure that the funds have cleared successfully into your account before they are released.
Alternatively, you can use your debit card to buy cryptocurrency directly without a deposit.
Here's how
Sign in to your Luno account
Select WALLETS from the menu
Open your USD wallet
Select DEPOSIT
Choose your bank account (if you haven’t linked one yet, you’ll go through the steps in the section below, then you’ll be brought back here)
Enter the amount you’d like to deposit
Select NEXT
Then select CONFIRM
That’s it! Your deposit should reflect in 1 to 3 business days.
If this is your first time...
We’ll ask you to first link your bank account if you haven’t already done this. We’ve partnered with Plaid to help you link your account quickly and securely.
After you’ve selected DEPOSIT (Step 4 above), you’ll see the Link your bank accounts screen
Select Continue to Plaid
Plaid will ask you to choose your bank and enter the sign-in credentials you use to access online banking (don’t worry, this is completely safe)
Follow the on-screen prompts to verify yourself and select the accounts you want to make deposits from. If you bank with Wells Fargo or Capital One, check out the Note below
Once you’ve successfully linked your bank account, you’ll be brought back to Luno
Select CONTINUE TO DEPOSIT
Note
If you’re linking a Wells Fargo or Capital One account, you’ll be asked to choose what information you'll share with Plaid.
With Wells Fargo, all the necessary permissions are selected by default. You can uncheck any accounts you don’t want to deposit from, but make sure that you leave the Statements and Profile Information boxes checked:
With Capital One, be sure to check the boxes for the Account Holder Name and Account Number. Plaid won’t be able to link your account with Luno unless these are both checked:
Tip
Have trouble linking your account? We’ve got you covered. Check out our Plaid troubleshooting guide here.
Frequently asked questions
No, there are currently no fees for USD deposits.
Yes, your deposit limits are tailored to you and are dynamic in nature.
It generally takes 1 to 3 business days for the funds to reflect in your USD wallet.
Plaid is a service that allows apps to connect securely with financial institutions. It has millions of users, it is trusted by companies like Venmo and American Express, and its information security practices are designed to meet or exceed industry standards.
Plaid supports most banks and financial institutions. After you’ve selected Continue to Plaid to link your bank account, you’ll choose your bank by searching Plaid’s list.
Unfortunately, if you don’t find your bank on the list, it means that it’s not supported at the moment. You’ll need to use another bank account if you have one, or buy crypto with your debit card instead.
Tip
You can find a full list of supported financial institutions on Plaid's website.