How to Withdraw Money from crypto.com to Bank Account

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Written By Santana

Bitcoin enthusiasts dedicated to unraveling the complexities with practical insights

Are you new to Crypto.com and wondering how to withdraw funds to your bank account? You’re in the right place! Let me explain in detail the steps you need to take to withdraw funds from Crypto.com to your bank account and the factors to consider to ensure the process runs smoothly.

Setting up Withdrawal options

Before withdrawing funds from Crypto.com to your bank account, you must set up your withdrawal options. Here are the steps you need to follow:

  1. Verify your identity – To ensure security, Crypto.com requires that you complete their identity verification process before you can withdraw funds. This process will require you to submit identification documents such as your passport or driver’s license.
  2. Add bank account details – After identity verification, you can add your bank account details to Crypto.com by going to your account’s “Settings” section and selecting “Bank Accounts.” You will need to provide your routing number, account number, and the name on the bank account.

Withdrawing money from Crypto.com

Once you have set up your withdrawal options, you can withdraw funds from Crypto.com.

Crypto.com users can withdraw USD from the App by converting their cryptocurrency to USD fiat and transferring the USD funds from their wallet to their U.S. bank account(s) through the ACH network.

Before proceeding, you must ensure that you have already established a USD Fiat Wallet. If you have not yet created a USD currency wallet within the Crypto.com App, kindly refer to the instructions for a step-by-step guide.

Step 1

Access the “Fiat Wallet” by selecting the Super App Menu Button or the Accounts Menu. Then, proceed to tap on “Transfer,” followed by “Withdraw,” and finally, choose “USD.”

Step 2

Select your USD balance and initiate the withdrawal of USD.

How to Withdraw Money from crypto.com to Bank Account

Step 3

To add a bank account, tap “Add Bank Account” or choose your preferred one if it has already been added.

Please note that setting up 2FA for USD withdrawals is not mandatory. However, if you have configured 2FA, the app will prompt you to enter the code during withdrawal.

Add a Bank Account

Select your bank and log in with your online banking username and password.
After successfully adding the bank account, it will be ready when you want to withdraw.

How to Withdraw Money from crypto.com to Bank Account

Step 4

Review the USD transaction withdrawal details and click confirm to proceed.

Step 5

The status of the withdrawal request will be updated

How to Withdraw Money from crypto.com to Bank Account

How long does seeing the withdrawn funds in my U.S. bank account take?

It takes around 3 to 5 business days, and you will be notified by email or push notification after the internal review.

What is the fees for withdrawing USD from my Fiat Wallet to my bank account?

A withdrawal fee is not taken to process USD withdrawals from the App.

Which cryptocurrencies can I sell in USD in the App?

All the cryptocurrencies available to be traded in the US can be sold in USD.

What is the prerequisite to connect my U.S. bank account to my App for USD withdrawal?

  1. You should have successfully set up the USD Fiat Wallet in the Crypto.com App. If you have not set up the USD currency wallet in the App, follow the steps here.
  2. Access to your bank’s online banking

How many United States bank accounts on the ACH network can I connect to the App?

You are allowed up to 5 bank accounts at a time.  Connected bank accounts can be removed. Therefore, do not connect the same bank account many times.

Why am I not able to add my bank account?

There can be 2 reasons for this issue.

  1. This may happen due to regulatory reasons. Also, withdrawals to a bank account linked to a NY address cannot be facilitated.
  2. Your bank account does not allow ACH transfers.

What is the Withdrawal Limits

  • Daily maximum withdrawal limit (24-hour rolling): 100,000 USD 
  • Daily maximum withdrawal requests: 5 per 24 hours
  • Monthly maximum withdrawal limit (30-day rolling): 500,000 USD
  • Monthly maximum withdrawal requests: 30 times per month

Factors to consider before withdrawing money from Crypto.com

Before withdrawing funds from Crypto.com, there are several factors that you need to consider to ensure that the transaction runs smoothly. These include:

  1. Platform fees – Crypto.com charges a small fee for every transaction you make, including withdrawals. Before initiating the withdrawal process, check the fee schedule to know what to expect.
  2. Currency exchange rates – If you’re withdrawing funds in a different currency from your bank account, consider the exchange rates. Crypto.com has a built-in currency exchange feature that lets you convert your funds to your preferred currency before initiating the withdrawal.
  3. Withdrawal limits and processing times – Every bank has its withdrawal limits, hence the need to check with your bank. Also, Crypto.com has set withdrawal limits for its users depending on their verification status. It is essential to consider these limits and the processing times before withdrawing.

ConclusionHow to Withdraw Money from crypto.com to Bank Account

Withdrawing funds from Crypto.com to your bank account is a straightforward process that requires you to set up withdrawal options, select your bank account, enter the amount, and confirm the withdrawal. However, you must consider platform fees, currency exchange rates, withdrawal limits, and processing times to ensure the transaction runs smoothly.

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