Sell USD Coin with ACH

ACH is the batched network American banks use to move dollars between accounts, and it is how money normally leaves a crypto sale. Selling USD Coin through it means Banxa takes your USDC at a quoted rate and sends dollars into the next outgoing file.

Of everything that can be sold on this rail, this is the least eventful conversion. USD Coin targets a value of one US dollar and ACH settles in dollars, so nothing is being converted between currencies. The only variables are the spread and however far the token sits from its peg at that moment, which is usually a rounding difference.

That does not make the peg a fixed value. It is a market price, and it has moved: in March 2023 the token traded near eighty-seven cents over a weekend when a bank holding part of its reserves failed. Nothing about the token itself had changed, but the quote had. Reserves are held in cash and short-dated government debt and attested monthly, which is a more conventional arrangement than some alternatives, though attestation is not the same thing as a full audit.

Dollars arrive in a US checking or savings account in your own name, addressed by routing number and account number. Getting the account number wrong is worse than getting the routing number wrong, since the credit often reaches a real account rather than failing outright.

Names receive little scrutiny on ACH. Credits post to the account number and many banks never compare the name attached, so the rule that the account must be yours is Banxa's, applied before sending rather than caught afterwards.

Two clocks run in sequence. Confirmation depends on which chain you send from, since USD Coin is issued across several and sell support varies by chain and country together rather than by the token alone. The banking clock only starts once the coins have confirmed, and it is much the longer of the two.

ACH moves in batches, releasing payments in scheduled windows, so a sale landing just after a cut-off waits for the next. One to three business days is the quoted range, and Federal Reserve holidays close the network in the same way weekends do.

The rail's own failure mode arrives late rather than up front. A credit can post to your account and then be returned days afterwards if the receiving bank rejects it, most commonly over a wrong account number or a closed account. Arrival and completion are separate moments here.

Limits apply per transaction and cumulatively over rolling periods, both varying with verification level and location. A first sale usually brings an identity check even for an established buyer, and larger amounts bring questions about where the funds came from.

Once the USDC reaches Banxa's address it is settled on its chain and cannot be recalled, so the recovery boundary sits entirely on the dollar side. Availability also differs by state rather than applying evenly across the country, which makes the quote screen the only guide worth relying on.