When you add money to TransferCove, you pay us through a method you already use, such as a bank transfer, Zelle or USDT. Then someone on our team finds your payment and credits your balance. There is no automatic connection to your bank yet, so every deposit is matched by a person.
It is usually quicker than it sounds, and a person checking every deposit stops a lot of mistakes and fraud. Here is each step, and what you can do to make yours go quickly.
Why a person matches your deposit
A payment to our account arrives with whatever details your bank or app passes along: an amount, a sender name, sometimes a memo. On its own, that is not enough to know which TransferCove member sent it. Two people can send the same amount on the same morning.
So we ask you to tell us a payment is coming, give you a code to attach to it, and have a reviewer match the two. If they match, your balance is credited. If something doesn’t line up, the reviewer holds off until it does.
Step by step
- Open Add money in the app and pick a payment method. Each method shows its minimum and maximum and how long it usually takes.
- Enter the amount. You’ll see the amount that will reach your balance before you go any further. Adding money is free.
- You get an instructions screen. It shows where to send the money (such as an account name and number, or a wallet address with a QR code) and a reference code that belongs to this deposit only.
- Send the payment from your bank, app or wallet, and include the reference code wherever the method allows it: the memo, note, description or reference field.
- Come back and tap “I’ve sent it”. You can attach a screenshot or PDF of the payment as proof.
- The deposit moves to Pending review. When a reviewer approves it, your balance goes up and you get a notification.
Your reference code
The reference code is the most useful thing you can give us. It ties the money that arrived in our account to the deposit you started in the app. It looks like TC-7KX4QM: “TC-” followed by six letters and numbers, from a set that leaves out characters that are easy to mix up. Put it in the memo or reference field exactly as shown.
Each code is for one deposit. Don’t reuse an old code for a new payment, and don’t send two payments against one code. If you want to add more money, start a new deposit and you’ll get a new code.
If your method has no memo field, or you forgot to add the code, send the deposit anyway and tap “I’ve sent it”. Attach proof and fill in any sender details the app asks for. The reviewer can still match it, though it may take a little longer.
What “I’ve sent it” does
Tapping “I’ve sent it” tells our team to start looking for your payment. Until you tap it, the deposit sits in Awaiting payment and nobody is checking for it.
A deposit you never mark as sent expires after a set time, so open deposits don’t pile up. If yours expires before you’ve sent anything, just start a new one. If you have already sent the money and the deposit expired, contact us with the reference code and your proof. Don’t start a second deposit for the same payment.
You can cancel a deposit while it is still awaiting payment. Once you’ve marked it as sent, it goes to review instead.
Proof of payment
Proof is optional, but it helps. A good screenshot or PDF shows:
- the amount
- the date and time
- the recipient account or wallet address
- the reference code or memo, if you added one
- a transaction or confirmation number
Files can be JPG, PNG, WebP or PDF, up to 10 MB. They are stored privately and shown only to you and the reviewer, through links that expire after a few minutes.
How long it takes
Once you tap “I’ve sent it”, we usually review your deposit within one business day. Our review team works Monday to Friday, so a deposit sent late on a Friday will usually be reviewed on the next working day.
Our clock starts once the money reaches our account and you’ve marked it as sent. Before that, the payment method has its own timing: a wire or ACH transfer can take a business day or more, while Zelle and USDT are usually faster. The method’s typical timing is shown when you pick it.
Why a deposit might be delayed or rejected
Most delays come down to a few causes:
- The reference code is missing or mistyped, so the reviewer has to match the payment another way.
- The amount sent doesn’t match the amount you entered in the app.
- The payment came from an account in someone else’s name. We may ask for more information, and we can reject deposits from third parties.
- The money hasn’t arrived yet because the method is still processing it.
- The amount is below the method’s minimum, above its maximum, or would take you past your account limits.
- For USDT, the payment went over the wrong network or to the wrong address.
If we reject a deposit, you’ll see the reason in the app. If your money reached us and we can’t credit it, we’ll contact you about returning it through the same method. Don’t assume a rejected deposit is lost. Write to us.
What you can do
- Start the deposit in the app before you send money, so you have a reference code.
- Send the exact amount shown, from an account in your own name.
- Copy the reference code into the memo field instead of typing it by hand.
- Tap “I’ve sent it” right after you pay, and attach proof.
- Keep the confirmation from your bank or app until the deposit is approved.
If a deposit has been pending longer than one business day on working days, contact us at support@transfercove.com with the reference code. We reply within one business day.
One last point: we will never ask you to send a deposit to an account that isn’t shown in the app. If someone emails or messages you with different payment details, don’t use them, and tell us.
