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Funds Availability Disclosure

INX SECURITIES, LLC (“INX SECURITIES”) PLATFORM FUNDS AVAILABILITY DISCLOSURE

All cash balances reflected in a User’s Trading Wallet (“Trading Wallet”) on the INX Securities platform are held by BMO Harris Bank (“BMO”). All decisions and directions to purchase, sell, deposit and/or withdraw from a User’s Trading Wallet are solely the User’s decision. The User is solely responsible for ensuring that funds are available to cover all trading activity. The User understands it is using the INX Securities platform as a means to send User's directions to BMO if there is a matched transaction. The United States dollar is the only currency accepted by BMO and INX Securities on its platform. INXS Securities is only responsible for USD that is in the BMO account and not for any cryptocurrency. See below for discussion of ETH and USDC. Neither BMO nor INX Securities process, accept, convert or transfer any cryptocurrency.

BMO is a United States-based entity, subject to US banking rules, regulations and hours.

BMO Business Hours and Business Days: 9am-5pm US Eastern Time. Typically, every day is a BMO business day except Saturdays, Sundays and United States federal holidays.

Withdrawals and deposits through BMO will only be processed during BMO’s business hours. A User will not be able to make any withdrawals or deposits when BMO is closed. Please note that BMO and INX Securities do NOT hold, accept or process any cryptocurrency transactions. All cryptocurrency transactions are processed by an affiliated third party called INX Digital, Inc. (“INXD”).

DEPOSITS

Generally, electronic direct deposits are available on the same US business day that the deposit is received by BMO, however external User banks generally take between 1- 3 business days from the funds transfer request date to get external funds to BMO. Business hours for BMO are not the same as the INX Securities trading hours. ACH service is not available to non-US Users. Non-US Users may fund their BMO account via SWIFT wire or via ETH/USDC conversion services that are provided by INXD. Until deposited funds appear in a User’s Trading Wallet, they are not available for trading activity. User USD funds deposited at BMO before 5:00 pm ET on a US business day are typically considered to be deposited that day, however, Users are cautioned that is not always the case, and that the date BMO receives a deposit is not always the same day the User can use the deposit for trading (i.e., funds may not always be available in a User’s Trading Wallet the same day a deposit is made). INX Securities is not responsible for funds availability delays at BMO. INX Securities is not responsible for the availability or processing times of the funds being requested from another bank or entity as directed by the User.

Longer delays may apply. In some cases, BMO may not make some or all of the deposited funds available on the same business day of the deposit. Depending on the type and/or dollar amount of the deposit, funds may not be available until a later date. In addition, funds Users deposit electronically or otherwise may be delayed for a longer period of time under the following circumstances:

  • When INX Securities believes a transfer will be returned or not honored by the account holder.
  • A User’s account has previously received item returns or chargebacks.
  • There are unforeseen circumstances or other technical difficulties, such as processing or communications systems failures.
  • When an account has been open for less than 30 days and wire or ACH transfers to the account are delayed.

WITHDRAWALS

All withdrawals are subject to the same deposit restrictions noted above. As such, a User may not be able to withdraw funds the same business day it made the withdrawal request. USD withdrawal requests made during the time BMO is open for business, and prior to the BMO cutoff times, will generally be executed the same business day, however, delays may apply. BMO’s business hours are not the same as the INX Securities trading hours. External User banks generally take between 1-3 business days from the request date to post funds transfers from BMO. INX Securities is not responsible for funds availability or processing delays at BMO. INX Securities is not responsible for the availability of the funds or processing times delivered to another bank or entity as directed by the User.

ETH and USDC DEPOSITS and WITHDRAWALS

ETH and USDC conversions to and from USD are executed by an affiliated third-party provider called INXD. These transactions are all typically only processed during US banking hours. Withdrawal and deposit USD conversions to/from ETH and/or USDC are not instant and are only available when actually USD is moved to or from BMO. ETH/USDC conversion requests typically take less than 3 business days to complete and may take longer. Withdrawal conversions to ETH or USDC can only be sent to a User’s Metamask wallet.

An affiliated third party provider called INXD executes ETH>USD, USDC>USD, USD>ETH, USD>USDC conversions. All conversions are done at an exchange rate solely determined by the third-party providers, who may charge fees for this conversion service. Senders of ETH or USDC to the third-party may be responsible for additional network charges (gas). While INX Securities offers these services through an affiliated third party provider, Users may use other providers to exchange the cryptocurrency from and to USD/ETH or USDC.

IMPORTANT: ETH/USDC conversion requests typically take less than 3 business days to complete and may take longer. Any exchange rate will be the rate (as solely determined by the third-party providers) in effect when the exchange is processed, and NOT the exchange rate at the time of the User request. Given the volatile nature of ETH, the exchange rate at processing can differ substantially from the exchange rate at the time the request was made. For example, if an ETH exchange request is made on a Saturday (or any other time outside of BMO business hours), the ETH transaction conversion to USD typically will not be processed until the second or third US business day following the request (i.e. Tuesday or Wednesday), and could take longer. At that time, the third-party provider responsible for the conversion will receive and process the request. The applicable exchange rate will be the exchange rate at the time of processing and NOT the exchange rate at the time of the request. INX Securities is not responsible for the ETH/USDC conversion processing times.