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GBP bank withdrawals in Cryptopay Android App
GBP bank withdrawals in Cryptopay Android App
Send funds to your personal bank account in your Android app
Dmitry avatar
Written by Dmitry
Updated over a week ago

To be able to withdraw GBP to your bank account, you'll have to complete the verification of your Cryptopay account first. Check out this guide to help you with this step.

Verifying your GBP bank account

To do that, please follow this guide to make a small deposit to your Cryptopay account. Once the deposit is credited, your bank account will be linked automatically, and you will be able to withdraw funds to it.

Making a withdrawal to a GBP bank account

  • You can make a bank withdrawal both from crypto accounts and fiat accounts:

  • A fee of 0.09 GBP is charged for bank withdrawals from crypto and fiat accounts.

  • When you make a withdrawal directly from a crypto account, the exchange fee of 1% is implemented, as your crypto is exchanged to GBP automatically before the withdrawal.

  • The minimum withdrawal amount is 10 GBP.

  • The total withdrawal limit is the equivalent of 15,000 EUR monthly*.

  • A single GBP withdrawal can't exceed 250,000 GBP (even if your monthly withdrawal limit exceeds this amount).

  • All GBP bank withdrawals are processed automatically 24/7.

  • The average processing time is up to 1-2 hours.

With the Cryptopay app, withdrawing funds to your personal GBP bank account is fast, cheap and secure. To do it, you need to:

  1. Go to Transfers (🔁 icon);

  2. Select Bank withdrawals;

  3. Choose the account you’d like to withdraw funds from and the bank account you wish to withdraw to;

  4. Enter the amount you want to withdraw;

  5. Confirm the withdrawal.

If you haven’t linked a bank account yet or need to add a new one, you need to:

  1. Tap on Add account;

  2. Enter your bank details;

  3. Tap on Save.

Important notes:

  • Not all banks are signed up for the Faster Payment Scheme. Here is the list of directly connected participants. Alternatively, it’s always better to check with the 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 see the Insufficient balance error when there’s 10 GBP on your account, please note that the 10 GBP bottom limit does not include the 0.09 GBP fee. So you need to have at least 10.09 GBP before you can withdraw.

  • Some banks might also not recognize Cryptopay’s Sort code, as it starts with '0'. This can happen when a bank does not update its Extended Industry Sort Code Directory (EISCD) correctly. It also may happen if they use an old system that does not recognize the 0 at the beginning of the Sort Code. Please enquire with your bank if such an issue exists.
    You can check if the Sort Code you want to send a payment to accepts Faster Payments, by using the sort code checker.

  • Please note that you can’t withdraw funds to any third-party or business bank accounts.

  • If you plan to make transfers using a joint bank account, it has to be verified. Please contact us via chat or support@cryptopay.me, and we will be happy to guide you through this process.

*Crypto & fiat withdrawals, as well as Cryptopay card loads are all included in this limit.

If you have any questions regarding our services, don't hesitate to get in touch with our support team agents and operators via live chat. You can also simply email them at support@cryptopay.me. They’re always happy to help during their business hours (GMT): 7 AM – 7 PM on weekdays, 9 AM – 5 PM at weekends.

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