USD transfer

MaiCoin

Modified on: Wed, 8 Feb, 2023 at 11:35 AM

How we protect your USD assets.
1. Similar to the setup of New Taiwan Dollar, MAX safeguards users’ USD assets in a dollar trust account with Union Bank of Taiwan for the highest level of protection.
Service Eligibility
1. Lv2 accounts.
To bind USD accounts, there’re two steps:
1. You will need to visit a local UBOT (Union Bank of Taiwan) branch to open a foreign currency account. The account cannot be a digital bank account. It must come with a deposit booklet with your account information written on it. You may skip this step if you already have an account with UBOT.
2. Open your MaiCoin app / web, navigate to Settings > Payment Methods > USD accounts, and input the account information required for binding. The binding process is completed once your USD bank account is verified.
USD deposits
1. Visit the UBOT online banking website to transfer USD to your MaiCoin USD funding account (a virtual bank account number generated for your deposits). The deposit will be credited to your balance shortly.
2. Deposits made from UBOT account are considered intra-bank transfers, which means no transfer fees are applied.
Withdraw USD:
1. Navigate to USD withdrawal on the MaiCoin app. Input the amount to withdraw. Funds will be credited to your bank account usually within 3 business days.
2. Withdrawals made to UBOT account are considered as intra-bank transfers, which means no transfer fees applied.
Trading in the USD market
1. For the most up-to-date information on the trading pairs, please refer to the info presented on the MaiCoin App / Web.
24-hour inter-fiat market trading restrictions
1. To comply with relevant regulations, USD market trading will be halted for users who traded in TWD market in the past 24 hours, and vice versa.
2. For instance, you can only trade BTC/USD after 08:01am on Jan. 2nd, 2022 if you traded BTC/TWD on Jan. 1st, 2022 at 8:00am.
Deposit Limit: 1,500,000.0 TWD per transaction
Withdrawal Limits
1. Per transaction: US$50,000
2. Within 24 hours: US$100,000
3. Monthly: US$500,000
User profile update
1. In compliance with the USD service terms, your MaiCoin profile data have to be in sync with the data at UBOT.
2. If you have changed your ID number, name, or birthday, please contact MaiCoin support at info@maicoin.com to make the same changes. During the update process, you won’t be able to deposit, withdraw USD, or trade in the USD market.