For weekly and monthly plans after the ACH transfer from your bank account clears, Swan will purchase Bitcoin on the next business day following that clearance. You will buy bitcoin at the Bitcoin price on purchase day, not the deposit day, because we wait for your funds to be released from hold.
For example, if your ACH hold clears on Friday, then your Bitcoin will be purchased by end-of-day Monday. If Monday is a holiday, then your Bitcoin will be purchased by end-of-day Tuesday.
During this time, you'll see a BTC Purchasing status in your dashboard. This means the order has been sent to our custodian for trade execution. Trades are executed M-F during business hours (8am-6pm PST) only.
Please allow until the end of the business day for purchases to occur prior to contacting us.
While we make our best effort to stick to a weekly schedule, because the ACH system does not work nights, weekends, and holidays, sometimes schedules can be off by a business day.
After the purchase is complete, the amount of BTC bought will be shown, and the status will show BTC Bought.