Cross Payments is a way to fund your Hapi account from your local bank in Peru. It's a convenient method to deposit funds into your account.
Important: For now, it's only available for users in Peru.
What are the benefits?
Bank deposits in soles or dollars.
Available with banks in Peru.
Estimated crediting time: up to 4 business hours if you deposit before 12 pm ET; after that, up to 1 business day. If it is an interbank transfer, up to 2 business days. Times are estimates and may vary by bank and method; they are not guaranteed.
Cutoff time, weekends and holidays
Deposits made before 12 pm ET are credited within up to 4 business hours. Deposits made after 12 pm ET are credited within up to 1 business day. If it is an interbank transfer, up to 2 business days.
Deposits made on weekends or U.S. holidays are processed starting the next business day (see holidays).
If this is your first deposit, the time starts counting from when you validate your identity.
Immediate or deferred transfer: when depositing from your bank in Peru you can choose between an immediate or a deferred transfer. Crediting times depend on when the funds reach Hapi's accounts, so a deposit made with a deferred transfer may take a little longer, depending on your bank. Also, depending on your bank, an immediate transfer may carry an additional charge. That fee is charged by your bank, not by Hapi (Hapi does not receive it), and it may reduce the amount that reaches your Hapi account. You can see the breakdown of amounts and fees in your bank's app; for further questions, contact your bank.
Fees
The fee depends on the currency you deposit in (it's the same across all available banks):
Fees by currency:
In soles (PEN): flat fee of US$1.99 per deposit.
In dollars (USD): 0.45% of the amount, with a minimum of US$2.99 per deposit.
The applicable fee is always shown in the app or on the web before you confirm your deposit
Examples (US$1,000 deposit):
In soles: US$1.99 (flat fee).
In dollars: US$4.50 (0.45%). For deposits where 0.45% is less than US$2.99, the US$2.99 minimum applies.
How to use Cross Payments
Follow these steps in the Hapi app:
Go to the Banking section.
Select Transfer to Hapi.
Choose the country: Peru.
Select Cross Payments (soles or dollars) depending on the currency.
Enter the amount in USD you want to deposit and tap Transfer.
Copy the details shown.
Make the transfer from your banking app.
Once done, return to Hapi and upload the payment receipt to notify the deposit.
Make sure the bank account used is in your name.
Important note
In addition to the Cross Payments fee, your bank may charge additional fees for the transfer. Check with your bank before making the deposit.
Need help?
If you have questions or run into issues when depositing, our support team is here to help through the app or at [email protected]. You can reach us here.
Disclosures
Cross Payments is a method to fund your self-directed brokerage account with Hapi Securities LLC, member of FINRA and SIPC. Custody and clearing are provided by Apex Clearing Corporation, an independent US-based custodian. Hapi Securities LLC is part of Hapi Corp. and its affiliates.
Deposited funds are subject to the processing times of Cross Payments and your bank. Hapi Securities LLC does not guarantee crediting times. The fees shown are for reference and may vary; the current fee is always shown in the app or on the web before you confirm the transaction.
SIPC membership protects customers' securities and cash in the event of the broker-dealer's insolvency, up to $500,000 (including a $250,000 limit for cash). It does not protect against market losses. More information at sipc.org.
Hapi Securities LLC | Member of FINRA and SIPC