If you’ve become a customer of CORO it’s because you want to be able to safely and securely transact in gold and dollars. Most importantly, you want to be able to do it fast and thanks to the distributed ledger technology we use called Hashgraph, we make transactions instantaneous.
Here’s what you might not know, though: the old banking system is like an old train powered by coal. It’s slow and dirty. When you make a wire transfer in the U.S. it’s never instantaneous and when you make an ACH transfer it’s even slower.
In fact, ACH transfers normally take 3-5 business days to fully clear between U.S. banks. This is important to understand because when you transfer funds from your bank to your CORO account, that transfer takes place on the old banking rails. On your side and our side, we are both forced to sit around waiting.
Yes, boring, we know. And unfortunately, the same process when you transfer your funds from CORO back to your old bank account.
But hey look, there’s good news! If you make transfers between your CORO account and another CORO customer, that transfer is instant!
In an effort to make it easier for our customers to know when their funds are available, the CORO app shows you when your funds are “pending” or “available."
Additionally, you will receive automatic email alerts letting you know when your funds have become available so that you can start transacting. As a reminder, if another CORO customer sends you gold or dollars, you will receive it instantly and those funds will be immediately available to you.