FAQ 🇦🇺
Everything you need to know about saving in Bitcoin with the Amber App.
Getting Started
To create an account Amber requires your:
- Full legal name,
- Date of birth,
- Email address,
- Mobile phone number.
Don’t hesitate to let us know on Twitter or Facebook what other countries you would like to see Amber be made available in.
You need to be at least 18 years old to join and create an account.
Transactions
Exchange Fees:
- Exchange fees are linked to your membership tier.
- Amber Basic members: 0.99% of Bitcoin purchases or sales.
- Amber Black members: 0% of Bitcoin purchases or sales.
EFT Fees:
- $0 transaction fee for purchases/deposits over $100.
- EFTs below $100 will have a $1.10 fee.
- Exchange fees will still apply for purchased BTC.
- processing time is instant (NPP) or 2–5 business days.
PayID Fees:
- If PayID is used to fund deposits, you will be charged a $1.95 provider fee per transaction.
Credit/Debit Card Fees:
- There will be a 1.8% charge fee per debit/credit card transaction below $2,000 or 1.2% fee per transaction above $2,000.
Apple/Google Pay Fees:
- You’ll be charged a 1.8% fee per transaction.
Withdrawal Fees:
- AUD withdrawals are free.
- Bitcoin withdrawals are either free, or will incur the network fee
Bitcoin purchased via EFT and PayID can be sent immediately after the transaction has settled.
For Bitcoin purchased via Credit/Debit cards, your account will be subject to a BTC send hold. This dispute window is typically 45 days for debit/credit cards, however this may vary depending on the specific payment provider.
Once the transactions of each payment method have surpassed the dispute window, BTC sends will be processed immediately, from that day forward.
Currently there is no way to send Bitcoin within the dispute window, so if you want to process a BTC send immediately after a purchase, we recommend using EFT or PayID, instead debit/credit card.
Withdrawals
Some payment methods used by Amber have long dispute windows. To ensure the platform is protected from fraud we have a system that restricts Bitcoin withdrawals for different periods depending on the funding method.
Typically purchases via EFT and PayID can be sent immediately after the transaction has settled.
For Bitcoin purchased via Credit/Debit Cards and Apple/Google Pay, we place a hold of 45 days.
To send Bitcoin, open your Bitcoin account by tapping the orange card on the dashboard. Then, tap ‘send’ up the top right. Once you send Bitcoin, the receiving wallet address you put in will be pre-filled as your current linked address for future Bitcoin sends. If you send Bitcoin to a different address, that one will become your default wallet address. Make sure to check the receiving wallet address before sending.
Please note, you can only send Bitcoin for ‘Successful’ purchases, which will show up as green in your transaction history. If your purchase is still ‘Pending’ (Orange), you will need to wait for settlement which typically takes 2-4 days.
Amber cold stores customer’s Bitcoin in multi-sig collaborative custody wallets. This procedure provides greater security of your Bitcoin. As such, all Bitcoin send requests are batched and sent once a day. Therefore, Bitcoin should land in your wallet within 1 business day of sending. If you haven’t received it within that time frame, please contact support to check the status of your send.
No, when you sell your BTC, it will deposit the AUD into your Amber AUD account.
To withdraw your AUD to your linked bank account, you will need to do that via the ‘withdraw’ feature. To do this, tap the blue card on the dashboard to open your AUD account, then tap ‘withdraw’ up the top right.
Linked Accounts
Amber provides the ability to link up to 2 accounts. Each account must be verified separately. If you wish to change your linked account, you’ll first need to verify access to that account. Once completed, you’ll be able to add your new account and delete the old one. If you run into problems with this process or entered wrong details to your bank account, please contact support.
Security
Amber uses cold storage in a collaborative multi-signature set up for our custodial wallets. This provides institutional grade security for your Bitcoin.
As a registered digital currency exchange provider, we must perform identity verification on all users, regardless of the value of their transactions. This is an obligatory process in order to comply with Australian law.
Identity verification is a quick process, which can be completed via the ‘Profile’ section of the app.
Membership
Amber Black membership enrolment is handled on the Amber website. Head to the Amber Black sign up.
You can cancel your Amber Black membership via the Account Portal page.
Please note that memberships that have already been charged for are unfortunately non-refundable. You will however continue to have access to the membership benefits for the duration of the current membership period.
Unfortunately, Amber doesn’t offer refunds for cancelled memberships outside the 7-day trial period. Amber is able to cancel your membership completely free if you contact us within your trial period.
Memberships that have already been charged for are unfortunately non-refundable. You will however continue to have access to the membership benefits for the duration of the current membership period.
Payment and deposit options
EFT
Got more questions?
If you have a question that hasn’t been answered visit our help center for more advice and answers from the Amber Team.
