What is direct deposit at River?

With direct deposit at River, you can automatically have your paychecks and other deposits sent to your account.

You can have any portion of your payroll deposits automatically converted to bitcoin with zero fees or you can keep cash in your River cash balance, earning Bitcoin Interest on Cash. 

This can be done by setting up direct deposits yourself in the River app, or sharing your account and routing information with your employer. You can also select the percent you want to have automatically converted to bitcoin in the app by following the instructions in this Help Center article.

• How do I set up direct deposit?
• When will my first direct deposit arrive in my River account?
• How do I get paid in bitcoin?
• Can I deposit more than my paycheck with direct deposit?
• Can I receive part or all of my paycheck as cash?
• Are there any fees for getting paid in bitcoin?
• When can I withdraw my direct deposits?
• Can business accounts use direct deposit at River?
• Who is eligible for direct deposit at River?
• Can I use my account and routing number to withdraw my cash?
• What fees does River charge for direct deposit?
• What is a direct deposit reversal?
• What should I do if I see a direct deposit reversal?
• Can I edit my direct deposit amount?
• Can I stop receiving my direct deposits to River?
• Will I see incoming direct deposits in my account?
• How do I formally request my direct deposit details?

How do I set up direct deposit?

With direct deposit at River, you can automatically have your paychecks and other payments sent to your account.

There are two ways to set up direct deposit:

• Directly in your River account by using Pinwheel, which only takes a few minutes.
• Providing your account and routing information directly to your employer or depositor.

To set up directly in your River account:

1. Log into River. Each of your accounts will have their unique account and routing number.
2. Tap on "Profile & Settings." If you are using the River app, tap the profile icon in the upper-left corner.
3. Under "Funding," click "Direct deposit." If you are using the River app, tap "Direct deposit" under "Banking & Funding."
4. Tap "Set up direct deposit."
5. Find your payroll provider by tapping on the icon or search for it by typing the name.
6. You will be redirected to log into your provider's site to choose how much of your paycheck should be deposited into your River account.
7. Once the flow with your payroll provider is completed, you will be redirected to your River account.

To use your account and routing numbers:

1. Log into River. Each of your accounts will have their unique account and routing number.
2. Tap on "Profile & Settings." If you are using the River app, tap the profile icon in the upper-left corner.
3. Under "Funding," click "Direct deposit." If you are using the River app, tap "Direct deposit" under "Banking & Funding."
4. Tap "Set up manually."
5. Here you will find your River account details to directly share with your employer or depositor. This includes your account number, routing number, bank name, and account type.* *If your employer or payroll provider requests a banking address, you can use: Lead Bank 1801 Main St, Kansas City, MO 64108

When will my first direct deposit arrive in my River account?

River doesn't control the timing of when your first direct deposit arrives. The timing of your first direct deposit will depend on when you updated your direct deposit details and their payroll processing cycle.

After setting up direct deposit to River and once your employer has received and processed your request, changes to your direct deposit typically take effect within 1 to 2 payroll cycles. If it takes longer than expected, we recommend checking with your employer or payroll provider.

How do I get paid in bitcoin?

You can get paid in bitcoin by having your paychecks automatically buy bitcoin with each deposit. You can change this percentage anytime to apply to future payroll deposits. Cash that is not converted will remain in your River cash balance and earn Bitcoin Interest on Cash.

You can automatically convert part or all of each of your payroll deposits to bitcoin with zero-fees up to $30,000 per month per account holder. Regular fees will apply after you have reached the $30,000 monthly deposit threshold. Your paycheck will only be automatically converted if the deposit is above $1.00.

Continue with the steps below to configure your payroll deposits to automatically buy bitcoin on each deposit:

1. Log into River. Each of your accounts has a unique account and routing number.
2. Tap on "Profile & Settings." If you are using the River app, tap the profile icon in the upper-left corner.
3. Under "Funding," click "Direct deposit." If you are using the River app, tap "Direct deposit" under "Account."
4. Under "How much is invested in bitcoin," select "Edit."
5. Choose how much of each payroll deposit should be automatically converted to bitcoin.
6. Tap "Done" to save changes.
7. You will return to the direct deposit screen with your changes reflected.

Can I deposit more than my paycheck with direct deposit?

You can use your account and routing number to deposit cash, other sources of income, government benefits or tax refunds into your River account. Automatic conversions to bitcoin only apply to payroll deposits. 

Can I receive part or all of my paycheck as cash?

Yes, you can choose to receive part or all of your paycheck as cash. In the direct deposit section of the River app, you can set your automatic investment to be between 0% and 100%.

Setting your investment percent to 0% means your entire paycheck will stay in cash and earn Bitcoin Interest on Cash. Setting your investment percent to 100% means your entire paycheck is converted to bitcoin. You can change your investment percent anytime, and the new setting will apply to any future direct deposits.

Are there any fees for getting paid in bitcoin?

You can automatically convert part or all of each of your payroll deposits to bitcoin with zero-fees up to $30,000 per month per account title. Regular fees apply after you have reached the $30,000 deposit threshold. Your paycheck will only be automatically converted if it is above $1.00.

When can I withdraw my direct deposits?

You can withdraw your funds as soon as they arrive into your River account. Any cash deposits from direct deposit are instantly available to withdraw. If you have elected to automatically convert any part of your paycheck to bitcoin, this converted bitcoin is also instantly available to withdraw once it is credited into your River account. 

Can business accounts use direct deposit at River?

Direct deposit is available to all business entity types at River.

Who is eligible for direct deposit at River?

You are eligible for direct deposit at River if you meet all of the following conditions:

• You have an individual or business River account
• You have an account number for your cash balance
• You have a residential or registered U.S. address
• You have verified your River account to enable banking features

Can I use my account and routing number to withdraw my cash?

It depends on your account eligibility. If you are eligible for bill payments and transfers, you can use your account and routing number to move funds out of River to another financial institution or to pay bills. If you are not eligible for bill payments and transfers, your River account and routing numbers are for incoming deposits only and cannot be used to withdraw funds. Please note that any attempt to withdraw funds when not eligible will be rejected.

What fees does River charge for direct deposit?

River offers free automatic bitcoin conversions for payroll deposits up to $30,000 per account title per month.

Free automatic bitcoin conversion only applies to payroll deposits that are set to automatically convert to bitcoin. Non-payroll deposits, such as other sources of income, government benefits or tax refunds, do not qualify for free conversions.

After you have reached the $30,000 deposit threshold in a given month, regular River fees apply for additional conversions. 

What is a direct deposit reversal?

A direct deposit reversal occurs when funds that were previously deposited into your account by your employer or payroll provider are withdrawn (or "reversed") after the fact. This can happen for several reasons, including:

• The payroll provider deposited the wrong amount into the account.
• The payroll provider deposited the funds into the wrong account.
• The payroll provider deposited the funds on the wrong date.
• The payroll provider deposited the funds twice by mistake.

In these cases, your employer or payroll provider initiates the reversal request to retrieve the funds.

What should I do if I see a direct deposit reversal?

If you notice a reversal related to your paycheck or other payroll deposit, the best next step is to contact your payroll provider or employer directly. They will be able to confirm why the reversal occurred and provide details about any upcoming corrected deposit.

River cannot see or control the details of your payroll provider's payment process, so your payroll team will have the most accurate and up-to-date information.

Can I edit my direct deposit amount?

There are two ways to edit your direct deposit:

• If you set up direct deposit automatically in the River app, you can make edits through the River app as well
• If you set up direct deposit to River directly through your employer or depositor using your account and routing information, you will need to go through them for any edits as well

Can I stop receiving my direct deposits to River?

If you connected your direct deposits directly in your River account:

1. Click "Profile & Settings." If you are using the mobile app, tap your profile icon in the upper-left corner.
2. Scroll down and tap "Direct deposit."
3. Tap on the direct deposit connection you wish to disconnect.
4. Tap "Disconnect from River" and you'll enter the disconnect flow.
5. Once the flow with your payroll provider is completed, you will be redirected back to your River account.

If you connected your direct deposits using your account and routing numbers:

• You'll need to make changes through your employer or payroll provider to where your funds are deposited to instead.

After following the above steps, changes to your direct deposit typically take effect within 1 to 2 payroll cycles. If it takes longer than expected, we recommend checking with your employer or payroll provider.

Will I see incoming direct deposits in my account?

When River is notified of an incoming direct deposit, it will appear as a pending transaction in your activity page. To locate your account activity in the mobile app, tap the clock icon in the upper-right corner of the main homepage. If you are using river.com, click "Activity & Orders" on the left side of the homepage.

The funds will be credited to your account once the deposit is received by the depositor. If your paycheck is being automatically converted to bitcoin, this conversion will happen after the funds are received as well.

How do I formally request my direct deposit details?

If you are new to River and would like to provide official documentation of your account and routing number to your payroll provider or depositor, you can request your direct deposit authorization. To do so, please contact Client Services at support@river.com.

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