The bank withdrawals in GBP are available to users with verification Tier 3. The minimum withdrawal amount is 10 GBP, the maximum daily bank withdrawal limit is 42 000 GBP, and the withdrawal fee is just 0.09 GBP.
First, you will need to accept UK banking terms and conditions. To do that, please go to your Accounts page and click the Deposit button next to your GBP account.
Agreeing to T&C will activate the GBP withdrawals for your Cryptopay account. Upon activation, you will get your own sort code and account number, which means that the transfers will be made with your Cryptopay account holder’s name, not with the Cryptopay company name. This is especially important as some banks may block crypto-related transactions resulting in money getting stuck with no way to withdraw.
Important: the GBP withdrawals are processed on business days from 8AM to 4PM UTC every two hours. On weekends, however, we cannot guarantee the same processing frequency and speed, hence the processing time is increased up to 48 hours (or the next business day).
To initiate a withdrawal, please do the following:
- Go to your Accounts page
- Click the Withdraw button next to the account you want to withdraw funds from
- In the pop-up window choose Bank account
- Choose your linked bank account*
- Choose the amount you want to send and click "Withdraw.
* If you don't have a linked bank account yet, click Link a new bank account to add a new one and fill up the correspondent fields. You will need to specify Currency (GBP), Account number and a Sort code. Once it's done, press the Create button.
NB: not all banks are signed up to the Faster Payment Scheme. Here is the list of directly connected participants. Alternatively, it’s always better to check up with your bank or provider you want to send money to before the transfer.
You can check if the Sort Code you want to send a payment to accepts Faster Payments, by using the sort code checker.
If you plan to make transfers using a joint bank account, please, contact us via chat or firstname.lastname@example.org and we will let you know if you can use it for bank transfers.