Overview
If you sent funds to your Iron Virtual Account and they haven't appeared yet, this article walks through the most common reasons and what to do next.
In most cases, deposits arrive within the expected processing window. If yours is delayed, the cause is usually one of a few well-known scenarios — and many of them resolve automatically.
First, check the expected processing time
Before assuming something's wrong, check whether your deposit is still within the normal window for the rail you used:
Region | Payment method | Expected processing time |
UK | Faster Payments / CHAPS | Within 1 business day |
EEA | SEPA Instant | Within minutes (under €100k) |
EEA | SEPA Credit | Up to 3 business days (over €100k) |
USA | ACH | 4–5 business days |
USA | Wire | Next business day |
If you're still within the window, the deposit is likely just in transit. Bank holidays and weekends can extend the timeline.
Common reasons a deposit is delayed or rejected
Compliance review is in progress
Deposits above certain thresholds, or deposits from new customers, can be held briefly for compliance review. This typically resolves within 24–48 hours. You don't need to do anything during this period — Iron's compliance team is reviewing automatically.
The sender's account name doesn't match your Virtual Account name
Iron generally requires that deposits come from a bank account in your own name. If the name on the sending account doesn't match the name on your Virtual Account exactly — including partial mismatches like a missing middle name — the deposit can be flagged as a third-party payment and refunded.
Important: Always send deposits from a bank account in your own legal name. Joint accounts, family accounts, business accounts, or any account where you're not the named holder may be rejected.
You sent from Wise or another payment service
Wise and some similar services don't include the named beneficiary in their transfers. Even if you sent from your own Wise account, your deposit can look like a third-party payment to Iron's systems and get refunded.
Important: Don't use Wise to top up your Virtual Account. Send directly from a traditional bank account in your own name.
Your verification isn't complete
If your KYC verification or required documents aren't approved yet, any deposit that arrives will be held until verification completes. See Verification requirements for Iron Virtual Accounts for the steps to finish.
The deposit was below the minimum amount
Deposits below 1 EUR / USD / GBP equivalent aren't processed. They also can't be automatically refunded, so it's worth checking your amount before sending.
You sent to the wrong account details or used the wrong rail
If you accidentally sent to an outdated set of account details, or used the wrong banking rail (for example, sending USD via SEPA), the deposit may bounce back to your sending bank. This usually happens automatically within a few business days.
What automatic refunds look like
When a deposit is rejected, Iron initiates a refund to the original sending account. Once initiated, the refund processes through the same rail:
SEPA refunds usually arrive within 1 business day after compliance review completes
UK Faster Payments refunds usually arrive within 1 business day
ACH and Wire refunds follow standard US rail timing (1–5 business days)
You'll see the refund hit the bank account you sent from, minus any rail fees deducted by your bank.
When a refund bounces back
If the refund itself can't be delivered (for example, the original sending account has since been closed), the funds are held by Iron's banking partner. In that case, support will ask you to provide an alternative bank account in your own name so the refund can be redirected.
Note: Iron can only redirect a refund to an account in the same legal name as the original Virtual Account holder. Alternative accounts in another person's name (including family members) can't be used.
When to contact support
Contact support if:
Your deposit is significantly past the expected processing time and you haven't received an automatic refund
You've received a partial deposit (less than you sent, beyond standard fee deductions)
You've received a refund but the amount is unexpectedly low
You believe your deposit met all requirements but was still rejected
If you signed up through a partner app (like Axal or another integrated partner), reach out to your partner's support team first. They can often resolve the issue or escalate to Iron on your behalf. For general MoonPay account issues, use the chat button in the bottom-right of this page.
Tip: When contacting support, have these details ready: the date and amount you sent, the name on the sending bank account, the bank or service you sent from, and a transaction reference if your bank provided one. This speeds up the investigation significantly.
FAQs
My deposit is showing as "pending" — what does that mean?
My deposit is showing as "pending" — what does that mean?
"Pending" usually means the deposit has arrived at Iron's banking partner and is being reconciled or reviewed. Most pending deposits resolve within a few hours. If yours is pending for more than 24 hours, contact support.
How long do I have to wait before contacting support?
How long do I have to wait before contacting support?
Give it at least the full expected processing time plus a buffer for weekends and bank holidays. For ACH, that's typically 5–6 business days. For SEPA Instant or Faster Payments, anything beyond a few hours is worth flagging.
Will I be refunded if my deposit is rejected?
Will I be refunded if my deposit is rejected?
Yes, in almost all cases. Refunds are automatic and go back to the original sending account. The only exception is deposits below the 1 EUR/USD/GBP minimum, which aren't refunded.
Why was a partial amount deducted from my refund?
Why was a partial amount deducted from my refund?
Some banking rails charge return fees that come out of the refunded amount. This is a third-party bank charge — Iron doesn't profit from it.
Can I cancel a deposit after it's been sent?
Can I cancel a deposit after it's been sent?
Once a deposit has left your sending bank, it can't be cancelled. If you need to redirect it, contact support as soon as possible.
I sent from my Revolut / N26 / Monzo / other neobank — should that work?
I sent from my Revolut / N26 / Monzo / other neobank — should that work?
Most regulated neobanks send payments under the named account holder and should work fine. The known issue is specifically with Wise and similar money-transfer services that don't include the named beneficiary. If you're unsure, contact your sending bank to confirm whether outgoing transfers carry your name as the originator.