Sending Funds to your Bitstamp Account:
- Deposit funds into your FlashFX account. Select “deposit” from the drop-down menu on the user dashboard and choose how you would like to send us money: Poli Pay or Bank Transfer
2. Once FlashFX receives your funds, you will get an email saying that your deposits have cleared. You are now ready to transfer.
3. Select “Send” from the dropdown menu on the dashboard.
Enter the amount of AUD you would like to send. FlashFX will show you an estimated USD amount based on the expected exchange rate and notional.
Note that clicking “continue” does not confirm your transaction, you will still have time to verify all the information before sending.
4. Select the “Send to Ripple Address” at the top of the payment details screen on the next page.
Enter the Bitstamp issuing address
and your personal destination tag (not your account number).
Enter your details as the recipient.
You can locate your Bitstamp destination tag here: https://www.bitstamp.net/account/deposit/ripple/
5. Because you are transferring via Ripple, the funds should arrive in your wallet immediately. The next page will verify that your funds have been processed successfully:
You will also receive an email confirmation.
Receiving Funds from Bitstamp into your Australian Bank Account:
1. Before you transfer FlashFX funds from Bitstamp, "request" a withdrawal on the user dashboard.
This is how we recognise that the funds coming into our Ripple wallet are from you.
2. Input the amount of money you are looking to convert. If you are sending from Bitstamp you will be requesting a USD → AUD transfer.
You will confirm your conversion rate later, once your funds have arrived in FlashFX’s Ripple wallet.
3. Provide details for the person who is sending the money. If you are the sender, enter your personal details here. Select “Sending from a Ripple Address”.
4. On Bitstamp, initiate a transfer of funds to the Ripple IOU USD wallet rwJD1L36u4vhKow6wAvR2xkD9tLUeCbpdd
You do not need to enter a destination tag when requesting a withdrawal from Bitstamp.
5. Calculate the in-Ripple transfer fee. Bitstamp charges an in-Ripple transfer fee of 0.2% when sending money to another Ripple wallet. For example, if you send $5KUSD from your Bitstamp wallet to FlashFX, we will only receive $4990. So, if you want to end up with $5K in your FlashFX account then you need to add on 0.2% to your transfer amount. Here's a formula to help:
(Amount you want to receive) X (1.002) = Total Bitstamp Transfer Amount
($5,000) X (1.002) = Total Bitstamp Transfer Amount
$5,010.00 = Total Bitstamp Transfer Amount
6. Once the funds have arrived in FlashFX’s wallet and have been processed you will be notified by email.
7. Confirm the final exchange rate on the FlashFX user dashboard and designate the bank account for the deposit.
The bank account name must match the name on your FlashFX account, otherwise there may be delays associated with your deposit.