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FAQ about Authentication for ACH Transfers

1. Why do I need to be authenticated for my ACH transfer?

In order to ensure that the ACH transfer was initiated by you, we need you to provide additional documents or information for us to authenticate your identity.

You can submit these materials via the app according to the requirement from the app notification or email you received. You can also call our customer service for assistance, but you may need to verify some information during the call.
After you submit the required materials, it will take 1-2 working days for us to review them. Please check your app notifications for the result. If authentication is successful, we will proceed with your ACH transfer.

2. What materials do I need to submit for authentication?

You need to upload a photo of yourself holding your ID. The ID type varies with your nationality. For specific requirements, please refer to the app notification you received. To guarantee that your photo is eligible for authentication, please make sure your face and ID in the photo are clear and visible, and your ID type is correct.

3. Will I not get instant buying power until authentication is successful?

No, you will not get instant buying power until authentication is successful.

4. What happens to my ACH transfer if authentication fails?

If authentication fails, we will reverse your ACH deposit/withdrawal, and you will be notified via app notification and email.

5. Will I be charged a reversal fee if my ACH transfer fails?

Not all failed ACH transfers will lead to a reversal fee. No reversal fee will be charged for an ACH transfer failure due to failed authentication. You will be charged a reversal fee only if Moomoo Financial Inc. submits your ACH transfer request to the bank but the bank reverses your transfer for any reason.

6. Will I be charged if I cancel my request for an ACH deposit/withdrawal?

If you have successfully cancelled your request, no reversal fee will be charged.

This presentation is for informational and educational purposes only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided herein is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investment time horizon, or risk tolerance, and does not constitute investment advice. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. All investments carry risks, including the potential for loss of principal. Moomoo makes no representation or warranty as to the adequacy, completeness, accuracy, or timeliness of the above content for any particular purpose.
Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. 
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).