Deposit and withdraw fiat funds

Prerequisite

You must have completed Ripple’s onboarding process, including Know Your Customer (KYC) forms and provision of other required documentation, before we can set up and process requests to deposit funds into, or withdraw funds from, your Liquidity Hub account.

Note that Ripple requires customers to transact via bank accounts directly in the customer’s name. In limited circumstances where a customer is unable to obtain a bank account, Ripple will allow the use of an approved third-party payment service provider once that provider has undergone the required due diligence.

In this topic, we will walk through the process for depositing fiat funds into and withdrawing fiat funds from your Liquidity Hub account:

Deposit fiat funds into your Liquidity Hub account

To request a deposit, send an email to payment-ops@ripple.com with the requested information. Once we receive your email, we will send you an acknowledgement that we are processing your deposit or we will let you know if there are any issues. We verify the transfer and update the total fiat balance according to our SLA. We will notify you when processing is complete. You can check your account balance on the Portfolio page and see a record of the deposit activity on the Transfers page in the Liquidity Hub UI.

When we receive your request to process a fiat deposit into your Liquidity Hub account, we begin by verifying that we have received the funds you transferred. Then we update the total fiat balance (net of any fees or transaction costs) in your account to reflect the new funds. The total fiat balance in your Liquidity Hub account is the amount of fiat currency available for trading.

Withdraw fiat funds from your Liquidity Hub account

To withdraw fiat funds from your Liquidity Hub account, send an email to payment-ops@ripple.com with the requested information. Once we receive your email, we will send you an acknowledgement that we are processing your request or we will let you know if there are any issues. We process your request according to our SLA. We will notify you when processing is complete. You can check your account balance on the Portfolio page and see a record of the withdrawal activity on the Transfers page in the Liquidity Hub UI.

When we start processing your withdrawal request, the requested withdrawal amount is deducted from the available USD balance and designated as reserved balance in your Liquidity Hub account. You cannot use the funds marked as reserved balance for trading.

After verifying transfer details, we transfer the funds to the receiving bank account you specify (net of any fees or transaction costs) using the requested transfer method. The reserved balance is then adjusted by deducting the amount of fiat you withdrew. The available USD balance and the total fiat balance reflect the updated account balance.

Information required to process fiat deposit and withdrawal requests

Depending on the type of action you are requesting, that is, a deposit or a withdrawal, you must provide the following information in your email:

Field Description Example value
Type of transfer Specify whether this is a deposit or withdrawal transfer. Deposit
Purpose of transfer Specify the reason for this transfer. Prefunding deposit
Clearing channel Specify one of the following channels:
  • Fedwire: Receive funds through wire transfer.
  • ACH: Receive funds through wire transfer.
 Fedwire
Transfer originator name Required for deposits only. Legal name of the customer. Trading Company Inc.
Transfer beneficiary name Required for withdrawals only. Legal name of the customer. Alpha Trading Corp.
Sending bank name Required for deposits only. Name of the bank that holds the account from which you transferred the funds. Commerce Bank
Sending bank account number Required for deposits only. Account number of the account from which you transferred the funds. 908993418651
Sending bank routing number Required for deposits only. Routing number associated with the account from which you transferred the funds. COBADEFFXXX
Receiving bank name Required for withdrawals only. Name of the bank that holds the account where the transferred funds will be received. Example Bank
Receiving bank account number Required for withdrawals only. Account number of the account where the transferred funds will be received. 990775678914
Receiving bank routing number Required for withdrawals only. Routing number associated with the account where the transferred funds will be received. EXBAUS33XXX
Transfer date Required for deposits only. Date on which you initiated the fund transfer from the sending bank account. The date must be in MM-DD-YYYY format. 07-22-2022
Transfer reference number Required for deposits only. Unique number that identifies the fund transfer initiated from the sending bank account. For example, a wire transfer reference number. LH03-982348221
Amount The quantity of fiat currency you want to deposit into or withdraw from your Liquidity Hub account. 235889.23
Currency The symbol of the fiat currency you want to deposit in your Liquidity Hub account. Note that USD is currently the only supported currency. USD