Understanding the details of cash withdrawals is essential for managing your finances effectively. This guide provides a clear overview of how to locate information on withdrawal limits, applicable fees, and estimated processing times.
Accessing the Cash Withdrawal Feature
You can withdraw cash from your account using various local currencies and methods available in your region. The available options are visible after logging into your account.
Using the Mobile App
- Navigate to the Portfolio section.
- Tap on Withdraw.
- Choose Withdraw cash or your local currency.
Using the Website
- Go to the Assets section.
- Click on Withdraw.
- Select Cash or your preferred local currency.
Viewing Supported Currencies and Methods
The platform supports multiple currencies and withdrawal options tailored to your location.
- Go to the cash withdrawal section in your account.
- All supported currencies and available cash withdrawal methods for your region will be displayed.
Understanding Processing Fees
Processing fees cover the costs associated with handling financial transactions. The platform aims to keep these fees as low as possible.
- If a fee applies, the exact amount will be clearly shown.
- If no fee is charged, it will be stated as No fee.
You can view the processing fees when selecting a withdrawal method.
Types of Fees
Fees can be structured in different ways:
Flat Fees
A fixed amount charged regardless of the withdrawal size. For example, a flat fee of $3 means you pay $3 whether withdrawing $10 or $1,000.
Percentage Fees
A fee calculated as a percentage of the withdrawal amount. For example, a 2% fee on a $100 withdrawal would be $2.
Percentage + Flat Fees
A combination of both a percentage and a fixed fee. For example, a fee of 1.5% + $1 on a $200 withdrawal would be $3 (1.5%) + $1, totaling $4.
The final fee amount is always displayed on the preview screen before you confirm the transaction. This fee is deducted from the total 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.
👉 Check current fee structures
Understanding Withdrawal Limits
Withdrawal limits define the minimum and maximum amounts you can withdraw in a single transaction or within specific periods (daily, weekly, monthly). These limits help protect your account and comply with regulations. Limits vary based on:
- The withdrawal method selected.
- Your account verification level.
When choosing a withdrawal method, the remaining limit for each option is displayed. Tap the information (i) icon for more details.
Types of Limits
Minimum Withdrawal Limit
The smallest amount allowed per transaction.
Daily Limit
The maximum amount withdrawable within a 24-hour period. This limit resets on a rolling basis, 24 hours after each transaction.
Weekly Limit
The maximum amount withdrawable over seven consecutive days. This limit resets on a rolling basis, seven days after the transaction that used the limit.
Monthly Limit
The maximum amount withdrawable within a 30-day period. This limit resets on a rolling basis, 30 days after the transaction that used the limit.
Maximum Withdrawals
The maximum number of withdrawals allowed within a defined period.
Estimating Processing Time
Processing time refers to the estimated duration for your withdrawal to complete and for funds to appear in your bank account. While many methods are instant, some can take up to five business days depending on the type.
The processing time for each method is displayed when selecting a withdrawal option.
Frequently Asked Questions
How can I check my withdrawal limits?
Your current withdrawal limits are shown when you select a withdrawal method. Tap the information icon next to each option to view detailed limit descriptions for different time frames.
Why am I charged a fee for withdrawals?
Processing fees cover transaction handling costs. The platform strives to keep these fees minimal, and they are always disclosed before you confirm any transaction.
What does the processing time depend on?
Processing times depend on the withdrawal method chosen. Some methods are instant, while others may require several business days due to banking procedures or verification steps.
Can I increase my withdrawal limits?
Higher account verification levels often come with increased limits. Completing identity verification steps can help raise your allowable withdrawal amounts.
Are there any hidden fees?
No, all fees are transparently displayed before you finalize a withdrawal. The amount shown on the preview screen is exactly what will be deducted.
What should I do if my withdrawal is delayed?
If your withdrawal takes longer than the estimated processing time, ensure that all provided details are correct. You can also review your transaction history for any updates or notifications.