Understanding the details of cash withdrawals is essential for managing your funds efficiently. This guide explains how to locate information on withdrawal limits, fees, and processing times, ensuring a smooth and transparent experience.
Accessing the Cash Withdrawal Feature
You can withdraw cash from your account using various local currencies and methods available in your region. The options are accessible once you log in to your account via the mobile app or website.
Using the Mobile App
To initiate a cash withdrawal on the app:
- Navigate to your Portfolio and select Withdraw.
- Choose Withdraw cash or your local currency option.
Using the Website
On the web platform:
- Go to Assets and click on Withdraw.
- Select Cash or your preferred local currency.
Viewing Supported Currencies and Methods
Available currencies and withdrawal options depend on your geographical location. To check what’s supported:
- Enter the cash withdrawal section of your account.
- All compatible currencies and methods for your region will be displayed.
Understanding Processing Fees
Processing fees are charges applied to cover transaction handling costs. Platforms often strive to keep these fees low and transparent.
- If a fee is applicable, the amount will be clearly shown during the process.
- If no fee is charged, it will be explicitly stated as No fee.
You can view the processing fee when selecting a withdrawal method. Here are common fee structures:
Flat Fees
A fixed amount charged regardless of the withdrawal size.
Example: A $3 flat fee means you pay $3 whether withdrawing $10 or $1,000.
Percentage Fees
A fee calculated as a percentage of the withdrawal amount.
Example: A 2% fee on a $100 withdrawal amounts to $2.
Percentage + Flat Fees
A combination of a percentage and a fixed fee.
Example: A 1.5% + $1 fee on a $200 withdrawal:
- 1.5% of $200 = $3
- Plus $1 flat fee
- Total fee = $4
The final fee amount is always displayed on the Preview screen before submission. This fee is deducted from the withdrawal amount. For instance, if you withdraw $10 with a $2 fee, $10 is debited from your account, and $8 is deposited into your bank account.
👉 View real-time fee estimates
Understanding Withdrawal Limits
Withdrawal limits define the minimum and maximum amounts you can withdraw per transaction or within specific periods (daily, weekly, monthly). These limits protect your account and comply with regulations. They vary based on:
- The withdrawal method chosen.
- Your account verification level.
When selecting a method, the remaining limit for each option is shown. Click the information (i) icon for detailed insights.
Types of Limits
- Minimum Withdrawal Limit: The smallest amount allowed per transaction.
- Daily Limit: The maximum withdrawable amount within 24 hours, reset on a rolling basis after each transaction.
- Weekly Limit: The maximum amount over 7 consecutive days, reset 7 days after the limit-using transaction.
- Monthly Limit: The maximum amount within 30 days, reset 30 days after the transaction.
- Maximum Withdrawals: The highest number of withdrawals allowed in a defined period.
Processing Time Explained
Processing time refers to the duration between initiating a withdrawal and the funds appearing in your bank account. While many methods are instant, some may take up to 5 business days depending on the type.
The estimated processing time is displayed when you select a withdrawal method.
Frequently Asked Questions
How can I check my withdrawal limits?
Log in to your account, go to the withdrawal section, and select your preferred method. The current limits will be displayed, and you can click the information icon for more details.
Why are there different types of fees?
Fees vary based on the withdrawal method, processing costs, and regional regulations. Flat, percentage, or combined fees ensure transparency and cover transaction handling.
What affects processing times?
Processing times depend on the withdrawal method, banking partners, and public holidays. Instant methods are often available, but some options require longer settlement periods.
Can I increase my withdrawal limits?
Higher account verification levels often increase limits. Complete any required identity verification steps to access higher tiers.
Are fees deducted before or after withdrawal?
Fees are deducted from the withdrawal amount. The preview screen shows the exact fee and the net amount you will receive.
What should I do if my withdrawal is delayed?
Delays can occur due to banking processing or security checks. If the processing time has passed, contact support for assistance.