How to initiate a deposit to Silo

To get started with investing in bonds, it's essential to appropriately fund your Silo account. Tip: our minimum to invest in bonds is $2,000 - be sure to transfer the right amount! This guide will walk you through how you can best achieve this.

Adding Your Bank Account:

After creating your Silo account, the first step is to link your bank account. You will receive an email notification once your bank account is successfully added. If you haven't received an email, you can always check the status of your bank account on the Banks page. If there's no status displayed next to the name of your bank, it means that your bank account has been successfully added.

Initiating the Transfer:

Once your bank account is successfully added, you can initiate a transfer by following these steps:

Option 1: Link Your Bank Account from the Banks Page:

  • Navigate to the Banks page on your Silo account.
  • Locate the name of your bank and click on it to initiate the transfer process.

Option 2: Use the "Deposit Cash" Button:

  • Alternatively, you can navigate to the "Deposit Cash" button within your Silo account.
Selecting the Amount and Completing 2FA:

Here, you will be prompted to select the amount you wish to deposit. After selecting the amount, you will need to go through Two-Factor Authentication (2FA) to ensure the security of your transaction.

Viewing the Transfer Status:

Once the deposit is initiated, it will be in a pending state. You can track the status of your transfer by visiting the History section of your Silo account. Additionally, you will receive an email notification once the transfer is either pending or processed. As long as the transfer is not processed, you can cancel the transfer through the history page.

Funds Availability:

Funds typically take around 4-5 business days to settle and be ready to invest in your account. Once initiated, your deposit will be held by our custodian for a few business days for regulatory purposes.

Up to $1,000 of the funds deposited may become available immediately. Look out for an email to know when your deposit gets initiated!

Please note that if you initiate a transfer after hours, it may take up to a day for the process to complete.

By following these steps, you can easily initiate a deposit to your Silo account. If you encounter any issues or have further questions, feel free to reach out to our support team for assistance. We're here to help you make the most of your Silo experience!