Memo / destination tag
Also called: memo · destination tag · tag · payment ID
Definition
A memo or destination tag is an extra code attached to a transfer that tells an exchange which customer account should receive a deposit sent to a shared address.
How memo / destination tag works
Some blockchains, including XRP, Stellar (XLM), Cosmos (ATOM), EOS and TON for many exchanges, let a platform use one deposit address for many customers. To tell deposits apart, the exchange gives each user a memo, tag or comment that must be included with the transfer.
The name varies: XRP uses destination tag, Stellar and Cosmos use memo, and some exchanges show it as tag or comment. If the deposit page shows one, it is required, even if your sending wallet labels the field optional.
A missing or wrong memo means the coins reach the exchange but cannot be matched to you automatically. Many exchanges can credit them manually after you submit a request with the transaction hash, but it can take time and may involve a fee.
Example
Say you withdraw 300 XRP from one exchange to another. The receiving exchange shows a shared XRP address and a destination tag of 104582. On the sending side, you paste the address and enter 104582 in the tag field. The 300 XRP arrives and is credited to your account within minutes. If you had left the tag empty, the 300 XRP would sit in the exchange's shared wallet until support traced it.
Common mistakes
- Leaving the memo empty because the sending app marks the field as optional.
- Reusing a memo from another exchange or an old screenshot.
- Adding a memo when sending to a personal wallet that does not use one, then assuming it means something.
Learn and practise
FAQ
Do I need a memo when sending to my own wallet?
Usually not. Personal wallets normally have their own address. Memos matter mainly when the receiver is an exchange or service using shared addresses.
I forgot the memo. Are my coins lost?
Often they can be recovered. Contact the receiving exchange with the transaction hash, amount and address; policies and fees vary.