Enhanced Withdrawals with Old Glory C2C Feature

Coast is excited to share a major upgrade to its withdrawal functionality. Now, users who have an Old Glory Bank account can withdraw up to $10,000 per transaction using the new “customer-to-customer” (C2C) transfer feature. 

This upgrade is a big improvement over the previously available Old Glory Pay (still available), which had a $5,000 daily receiving limit for most Coast users.

How the New Customer-to-Customer Feature Works

This feature is designed to make withdrawing funds easier, faster, and more flexible. Here’s a breakdown of the main benefits:

• Higher Withdrawal Limits: You can now withdraw up to $10,000 per transaction, significantly increasing the limit compared to the previous $5,000 daily cap with Old Glory Pay. This is a game-changer for users who need to access larger amounts of money at once.
• Multiple Withdrawals per Day: The old system allowed just one withdrawal per day, but with the C2C transfer feature, users can now make multiple withdrawals per day, offering much greater flexibility when managing your funds.
• C2C Transfer Available 24/7: The customer-to-customer transfer feature itself operates 24/7, so you can initiate withdrawal requests at any time. However, Coast processes withdrawals in two batches each day — one before Old Glory Bank opens and another around 1 PM Eastern Time. Requests received after 1 PM will be processed in the batch the following day. While withdrawals are processed during weekdays, the C2C transfer system allows you to submit requests whenever is convenient for you.
• Easy Setup: To get started, all we need is your last name (which we already have on file) and your Old Glory Bank account number. It doesn’t matter if it’s a checking, savings, or even an entity account — the feature works with all types.
• Two Daily Withdrawal Batches: We process withdrawals twice a day: one batch before Old Glory Bank opens, and another around 1 PM Eastern Time. Withdrawals made after 1 PM will be processed in the batch the following day.

This new feature is a substantial improvement for Coast users who use Old Glory Bank and enables a more seamless, efficient withdrawal experience.

Why the Change Was Necessary

The previous system, Old Glory Pay, limited withdrawals to $5,000 per day, which worked well for some but was too restrictive for users who needed access to larger sums or wanted to make multiple withdrawals. The introduction of the C2C transfer feature eliminates these limitations and provides the flexibility users have been asking for.

Additionally, with the ability to submit requests 24/7, users have more control over when they choose to initiate a withdrawal, even though the actual processing takes place during the designated batch times.

What’s Next for Coast and Old Glory Bank Users

Currently, funding accounts via the C2C transfer feature is not yet available, but this is something we’re actively working on. One of the challenges is that most customers don’t gain access to C2C transfers until 60 days after opening their Old Glory Bank account. Once this restriction is lifted, Coast will be able to offer a full range of deposit features, making it even easier to manage your funds.

How to Use the New Withdrawal Feature

Setting up the C2C transfer feature is simple. You just need to add your Old Glory Bank account to your Coast account. To make this process as easy as possible, we’ve included a screenshot from the Coast website showing the steps to add a new account for receiving withdrawals.

Once added, you’ll be able to withdraw up to $10,000 per transaction with just your last name and Old Glory Bank account number. It’s that simple!

This upgrade is another example of how Coast is working to provide users with better tools to manage their funds and access their money quickly and easily. By introducing C2C transfers with Old Glory Bank, we’re offering you a more flexible, efficient, and user-friendly experience. For more details on how to use this new feature, visit the Coast website or reach out to our customer support team.

About Coast

Coast is a Self-custodial fiat on-ramp providing seamless on-ramping to and off-ramping from PulseChian via the fiat-backed $CST Stablecoin.

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