Last week we published our latest app update to the Apple App Store and Google Play Store. This update includes many new features, improvements, and bug fixes, including:
- Added new US banks and credit unions
- Improved bank deposit speed
- Revamped US bank deposit status updates
- Updated Bitcoin price feed
Added new US banks and credit unions
When we first launched US bank support, we supported 17 of the top banks in the country. Our latest update adds support for 46 new US banks and credit unions, bringing the total number of supported US banks and credit unions to 63. You can find a complete list of these banks in our FAQ and on the “Add bank” screen of the Abra wallet.
Improved bank deposit speed
One of our goals is to make adding money to the Abra wallet easier and faster. To this end, we will be running tests to shorten the amount of time it takes to add money via bank deposit from 2-3 business days to 1-2 business days. In some cases we may require additional verification to protect the security of our customers’ accounts, which could add more time. However, in the best case scenario an Abra customer can now initiate a deposit in the morning before 12:00pm PT and see the money land in their wallet by the end of the business day. Try it out and let us know how it works for you!
Revamped bank deposit status updates
The Abra wallet will now provide more granular updates to let users know what’s happening during each step of the bank deposit process between the time a deposit is initiated and the time it succeeds or fails. Now users can rest easy knowing that their request has been received and is being processed according to standard procedures.
You can see an example of these new updates in the screenshots below:
Update bitcoin price feed from Coinbase to XBX
We were previously using Coinbase to get the price we used for bitcoin conversions. As of this most recent app update, our rates are now based off of TradeBlock’s XBX Index. This will result in a conversion rate that more closely tracks the global average across institutional bitcoin exchanges.
Keep the feedback coming!
All of these improvements are the result of feedback sent to us by our users. A big thank you to everyone who has contributed feedback so far!
Got a question or comment about these updates? Let us know in the comment section below or send us a message using the “Contact us” button in the main menu of the Abra app.
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Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.
Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, pymnts.com reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.
How Abra Protects Your Funds
Abra places clients’ financial objectives and security first. Abra practices a culture of risk management across all levels and functions within the organization.
Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.
Please visit our FAQ to learn more.
Jane1647 days ago
Hi.what should i do to transfer my earnings to my bank that is not ever listed from ABRA.my bank is american savings bank.
Daniel McGlynn1643 days ago
You should contact [email protected] on our team will help figure out the best fit for your situation. Thanks,
Cecile Parris2032 days ago
i see other credit union members are having the same problem i have. this should be corrected.
we have money in our accounts as well!
Max Dees2028 days ago
I’m sorry to hear that your having problems using Abra. Please let [email protected] know specifically what problem you are having, and they will be happy to help fix it for you.
Esteban Vahaio2035 days ago
Please add “Comerica Bank” thank you.
Max Dees2033 days ago
Thanks for the feedback Esteban, I’ll send this over to our Business Development team.
Richard Brown2117 days ago
Your daily and weekly limits are a real problem for me. After I set up my new bank account (you don’t have an arrangement with my old bank), I tried to send 1 BTC of USD to the account. Too big. Then tried 0.1 BTC. Too big. Then tried 0.01 BTC. Hooray, it went through, and fast too… 1 day later they had it. I checked with them about the limits, and they said that if you send them dollars, they will accept them. Probably get some extra scrutiny if proposed deposit was over $100,000. Then I found, through this website, that your limits are $250 per day and $500 per week. To keep my business, you should consider revising the limits upwards maybe to $10,000 per day and $20,000 per week.
John Light2116 days ago
Hi Richard, thanks for your feedback! I will be sure to pass it along to the team.
Scott2139 days ago
You do work with Wells Fargo. I keep getting my deposit cancelled and I don’t know why. Need help in getting my account set up.
John Light2138 days ago
Hi Scott, sorry to hear that the deposit functionality is not working! Please create a support ticket by pressing the “Contact us” button in the menu of the app so our Customer Support team can look into this.
Charles Edwards2146 days ago
If i have two step authentication on in my Wells Fargo account could this be why i cannot get my account to connect in add bank section with the app??
John Light2146 days ago
Hi Charles, normally our bank integration partner is able to work with the 2FA system. Please press the “Contact Us” button in the app to create a support ticket so our Customer Support team can help you troubleshoot this issue.
David Mitchell2148 days ago
I want to link my TD Bank account to my ABRA account to deposit USD in either direction. My bank needs my ABRA account number and your routing number to transfer cash by ACH. You should also only need my checking account number and TD Bank routing number. In attempting to set this up ABRA asks for bank ID and password. I do not understand what to reply.
John Light2148 days ago
Hi David, thanks for your interest! Please create a support ticket by pressing the “Contact Us” button in the main menu of the app and our Customer Support team will be happy to help you link your bank account.
Ronald Barkley2148 days ago
Wallet is set up. Bank information is valid. Funds are available. Deposits from bank are cancelled! Not able to contact abra for help.
John Light2148 days ago
Hi Ronald, sorry to hear about your trouble linking your bank account! What issues are you having contact us? You should be able to create a ticket with Customer Support by pressing the “Contact Us” button in the main menu of the app.
Joe Henson2155 days ago
So if your bank is not listed, we can not use Abra?
John Light2154 days ago
Hi Joe, thanks for your interest! If your bank is not listed, then you can still use Abra via bitcoin and Abra Tellers. Just select “Use bitcoin” or “Use cash” on the “Add money” screen to use these alternate methods of funding your wallet.
Mar2155 days ago
Who is your integration partner?
John Light2155 days ago
Synapse, you can learn more about them here: https://abra.zendesk.com/hc/en-us/articles/228880908-What-is-Synapse-
Diego2156 days ago
Hi, I’m having trouble linking the app with First Tech FCU. The app displays “An unexpected error occurred”. Any advice?
John Light2155 days ago
Hi Diego, thanks for your interest and our apologies for the trouble you’re having. Can you please create a support ticket so our customer service team can help you troubleshoot this problem? Press the “Contact Us” button in the main menu of the app to start a ticket.
James2158 days ago
I have tried to link Fidelity which has ACH transfers but ABRA is not accepting the transfers. Is this because my identity has not been verified yet? And when it is can more than a few hundred dollars be transferred a day or week? What are the limits?
John Light2158 days ago
Hi Jim, the limit for bank transfers in the US is $250 daily and $500 weekly. You can find info about our current limits on our FAQ: https://abra.zendesk.com/hc/en-us/articles/115002918627-What-are-Abra-s-transaction-limits-new-
Regarding the trouble you’re having connecting your bank account, please create a customer support ticket by pressing the “Contact Us” button in the main menu of the app. Our CS team will be able to help you troubleshoot the issue.
Francis Griffith2158 days ago
Can you add Umpqua Bank to your list of banks you have an integration with for your next update?
John Light2158 days ago
Hi Francis, thanks for the suggestion! I will pass this request along to our bank integration team.
Margaret2164 days ago
How about Partnership Financial Credit Union?
John Light2162 days ago
Hi Margaret, thanks for your interest! We do not have an integration with Partnership Financial CU yet. Note that you can always check the “Add bank” screen in the Abra app to see the most up-to-date list of banks we support.
Steve2166 days ago
over 60 US banks and credit unions
Still no Etrade or Interactive brokers – why not!
John Light2165 days ago
Hi Steve, thanks for your interest! Bank support in dependent on the banks our integration partner supports. It’s possible that they have not added Etrade or Interactive Brokers yet.
Josef dela Cuesta1975 days ago
any update on this?
is Etrade going to be registered?
Liz O'Donnell1973 days ago
Hi Josef! The FAQ linked to in the article is the most updated source for supported banks. No specific plans for eTrade that I’m aware of, but we’re always working on ways to expand the set of banks available.