Funds you've deposited into the Abra app via ACH will be held for 30 days.
You may however continue to exchange assets without any restrictions within your Abra wallet. You can also withdraw and send funds, as long as you maintain a total balance greater than the amount of your ACH hold.
Any funds that you deposit using a credit card or crypto will not be impacted. Wire transfers will be held for 24 hours before you can withdraw.
We do our best to proactively notify all of our users of this hold with an in-app notification that pops up and informs you of the 30-day hold. We follow this up with a review page that reiterates the 30-day hold before you any deposit can be confirmed. Once confirmed, the deposit is initiated, and the hold is implemented.
Example 1: You already have a balance within the app of .5 BTC and $25 AbraUSD. You then deposit $100 via ACH on November 20th, 2022. The BTC and AbraUSD that you already had within the wallet already will not be affected by this change and you can exchange the new $100 for any asset within the app and hold as long as you wish. However, with the new restrictions to ACH, the $100 cannot be withdrawn from the app until after December 20th, 2022.
Example 2: You created a brand new wallet after November 20th, 2022, and deposited via ACH $100. Because this is the first amount you have deposited into your wallet this amount must remain in your wallet for the next 60 days. You can exchange to any other asset within the wallet but you will not be able to withdraw until after December 20th, 2022.