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Silvergate: Anticipated Questions
Silvergate: Anticipated Questions
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Written by Grey Support
Updated over a week ago

We anticipated some questions you might have about the intended upgrade on USD accounts and have proactively provided an answer to them below. If you still have questions, please don't hesitate to contact us on Intercom or email us.

  • Are the funds in my USD balance safe?

100%. The funds in your USD balance are safe, and this is a temporary situation to help us provide better services on Grey.

  • When will this migration be completed?

We will be working hard to complete this upgrade in as little time as possible. We will provide regular progress updates on the upgrade.

  • What will be affected by this?

This upgrade only affects new USD account requests and deposits. This development means that you will be unable to request USD accounts or receive any deposits to your account during this period.

  • What will not be affected by this migration?

Swapping & withdrawals from your USD balance are unaffected and will still be available. Your EUR & GBP accounts are fully functional and unaffected by this.

  • What will happen to my pending USD deposits during this time?

All deposits that are not received before COB on 13th March 2023 will be reversed to the sending bank.

  • Can I still access my USD balance during this time?

Yes, you can still access your USD balance.

  • Can I receive a deposit to my USD account during this time?

For the duration of this migration, you cannot receive deposits. Attempted payments will be reversed to the sending bank.

  • Are my other accounts safe during this time?

Yes, they are. Your EUR & GBP accounts are entirely unaffected and will remain fully functional.

  • Will I need to request another USD account after this?

You will not need to request another USD account after this migration.

  • Can I request other accounts during this time?

Yes, you can still sign up and request EUR & GBP accounts during this upgrade.

  • Will changing my USD account affect my Virtual USD card?

No, the virtual card services are unrelated to your virtual account. This does not affect your card.

  • Can I use the GBP or EUR account to receive USD?

    You cannot receive USD to your GBP or EUR virtual account; please do not attempt this.

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