Transfer Money From Crypto.com To Bank Account is straightforward, but there are a few important steps to ensure a successful transfer. Here’s a step-by-step guide to help you navigate the process smoothly.
1. Verify Your Bank Account
To begin, open your Crypto.com app and log in. Navigate to the “Accounts” tab, and choose “Fiat Wallet.”
You must do so if you haven’t linked a bank account first. Follow the prompts to link your bank account, ensuring the name on your bank account matches the name on your Crypto.com account for a smoother verification.
Once linked, Crypto.com may perform a small test deposit to verify your account. Complete any additional verification requirements before proceeding with your withdrawal.
2. Sell Cryptocurrency for Fiat Currency
Before you can withdraw, you’ll need to convert any cryptocurrency you wish to withdraw into fiat currency (e.g., USD, EUR, GBP).
To do this, go to the “Trade” option in your Crypto.com app, select “Sell,” and choose the cryptocurrency you want to convert to fiat.
Confirm the transaction and wait for the sale to be processed. Your fiat balance will then be updated in your Crypto.com Fiat Wallet.
3. Initiate the Withdrawal
Once you have fiat currency in your Crypto.com account, navigate back to the “Fiat Wallet” under the “Accounts” tab.
Tap “Withdraw,” then select your bank account as the withdrawal destination. Choose the amount you wish to transfer to your bank and confirm the details.
Crypto.com may display an estimated time for the funds to reach your bank account, typically ranging from 1 to 5 business days.
4. Review Fees and Confirm the Transaction
Crypto.com may charge a withdrawal fee, which varies depending on your country and currency. Review any fees before confirming the transaction to ensure they align with your expectations.
Once you’re ready, confirm the transaction and authorize the transfer. You’ll receive a confirmation message, and the transfer will be processed.
5. Monitor the Transaction
After the withdrawal is confirmed, you can monitor the transaction status in your transaction history within the app.
Most transfers take 1-5 business days to complete, depending on your bank’s processing times. Crypto.com will update you on any delays or issues.
Tips for a Smooth Transfer
Ensure you have sufficient fiat balance before initiating a withdrawal.
Keep track of any emails or notifications from Crypto.com regarding your withdrawal status.
Conclusion
Withdrawing funds from Crypto.com to your bank account involves verifying your bank details, converting crypto to fiat, and confirming the transfer. Following these steps ensures a smooth and secure transaction, making it easy to access your funds from your bank account.
