Transfers using Customer Bank Instant Token (CBIT)

Note: Customers Bank Instant Token (CBIT) is only available to Bullish institutional customers.

Introducing Customer Bank

Customers Bank Instant Token (CBIT) is a 24x7 transaction service operated by Customers Bank. CBIT is available only to institutional customers who have an account open with Customers Bank.

Setting up CBIT with Bullish

Institutional customers should contact their Relationship Manager for requests to onboard with CBIT. Customers will need to provide the following information to your Relationship Manager:

1. Supporting statement from the associated Customers Bank account found on the Customers Bank portal that shows:
a. The customer’s entity name
b. The customer’s physical address
c. The 8 digit account number (first 4 digits will be masked)

Example below:

CBITBUllish.png

2. A screenshot from the CBIT portal that shows:
a. Name of the customer entity - Must match the name of the onboarded entity
b. 8 digit Customer Banks account number - must be the same as 1.c. above
c. CBIT wallet address that will be used to send transactions.

Example below:

CBIT Checking.png

What information is required to make a deposit via CBIT?

On the CBIT portal, customers should send funds to the Bullish CBIT wallet address and input their deposit memo reference into the “Public Description” field.

CBIT Deposit.png

Where can customers locate the Bullish CBIT wallet address?

Your Relationship Manager will provide the Bullish CBIT wallet address once the request has been approved.

Where can customers locate their deposit memo reference?

This is the same unique 9 character memo used for fiat wires. Customers can locate them with the following steps:

  1. Go to the left-hand navigation and choose Portfolio.
  2. Choose the Deposit button at the top right side of the screen.
  3. Choose USD.
  4. Read through the instructions in the pop-up window and choose I Understand.
  5. You can locate the deposit memo under the Wire Transfer tab.

How do customers make a withdrawal via CBIT?

  1. Go to the left-hand navigation and choose Portfolio.
  2. Choose the Withdraw button at the top right side of the screen.
  3. Choose USD.
  4. Select Destination with your Customer Bank details.
  5. Enter the amount
  6. Choose Review.
  7. Choose Confirm, if the information is correct. Otherwise, choose Go Back and edit the information.
  8. Use your two-factor authenticator (passkey or TOTP authentication) to authorize the action.
Note: The destination wallet address is pre-populated with the same address that made the deposit. Bullish will only process fiat withdrawals to Customer Bank accounts that have successfully deposited to Bullish.
Note: Customers must whitelist the address when making their first withdrawal to the new destination. See Withdrawal destination whitelisting - What you need to know.

Is there a minimum transaction amount for CBIT transactions?

There is no imposed minimum or maximum transaction size other than the standard withdrawal limit applied to the customers account. See Viewing your withdrawal limits

What fees are charged?

There are no fees for transfers made via CBIT.

Can CBIT transfers be made via the Custody API?

Yes, Custody API is available for CBIT. See https://api.exchange.bullish/docs.

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