How to Withdraw Money From Crypto.com To Bank Account

Hey there! If you‘ve been buying and trading cryptocurrencies on Crypto.com and are wondering how to get your funds out into your bank account, you‘ve come to the right place. This comprehensive guide will walk you step-by-step through the process of withdrawing your money from Crypto.com so you can access it in your bank.

I‘ll provide detailed instructions, pro tips, troubleshooting advice, and answers to frequently asked questions about Crypto.com withdrawals. Whether you‘re a beginner or experienced crypto trader, you‘ll learn the ins and outs of:

Selling your crypto for fiat currency
Transferring funds to your fiat wallet
Linking your bank account
Initiating withdrawals
Monitoring transfer status
Troubleshooting issues

By the end of this guide, you‘ll be a pro at withdrawing your hard-earned crypto gains into your bank account quickly and easily. Let‘s get started!

Overview: How Crypto.com Withdrawals Work

Before diving into the step-by-step process, let me briefly explain how withdrawing funds from Crypto.com works at a high level:

You need to first convert your cryptocurrency into a fiat currency within Crypto.com (e.g. sell Bitcoin for USD)
The fiat funds must be transferred into your Crypto.com fiat wallet
You link your bank account and initiate a withdrawal to that account
Crypto.com processes the withdrawal request and sends the funds via wire transfer
In 3-5 business days, the money lands in your connected bank account!

It‘s a simple process, but there are important nuances around verifying your identity, entering the correct bank details, withdrawal limits, fees, and more. I‘ll cover all of these topics in detail in the step-by-step instructions coming up next.

According to Crypto.com, they facilitate over 10 million transactions per month on average. So you can be sure the platform is equipped to handle your withdrawal smoothly.

Now let‘s get into the nitty gritty!

Step 1: Sell Your Crypto for Fiat Currency

The first step is converting your cryptocurrency into a fiat currency within the Crypto.com app.

Why sell to fiat?

Good question! You need to sell your crypto for fiat because most banks don‘t support direct crypto transfers. By exchanging your crypto for fiat, you can then withdraw via a normal wire transfer to your bank.

How to sell crypto on Crypto.com:

Log into the Crypto.com app
Tap the crypto wallet you want to sell (for example, your Bitcoin wallet)
Tap "Sell" and enter the amount you wish to sell
Confirm the details to complete the sale

That‘s it! The fiat currency equivalent of your sale will now be credited to your fiat wallet.

Pro tips:

Only sell crypto that Crypto.com supports selling into fiat
Double check which fiat currency your bank account supports (likely USD, EUR, GBP) and sell into that currency
Start by selling a small amount as a test before moving large sums

Once you successfully sell your crypto, it‘s time to move the funds to your fiat wallet.

Step 2: Transfer Funds to Your Fiat Wallet

Now that you‘ve swapped your crypto for fiat currency, you need to transfer those funds into your fiat wallet within Crypto.com.

Your fiat wallet is where your funds will be held before you withdraw them out to your bank.

How to transfer funds to fiat wallet:

In the Crypto.com app, tap the fiat wallet corresponding to the currency you sold your crypto for (for example, USD fiat wallet)
Tap "Transfer" and enter the amount you wish to transfer
Confirm the details to complete the transfer

That‘s all there is to it! The money you got from selling crypto will now be safely sitting in your fiat wallet.

Pro tips:

Only transfer fiat from selling crypto, not external deposits
Start with a small transfer first to confirm it works
Make sure you transfer to the right fiat currency wallet

Okay, your crypto is now fiat currency chilling in your fiat wallet. Time to connect your bank account…

Step 3: Link Your Bank Account

To send funds from Crypto.com to your bank account, you first need to link your bank account within Crypto.com.

Here are the steps to add a bank account:

In the app, tap your fiat wallet then tap "Transfer"
Select your fiat currency, enter amount, and tap "Withdraw"
Tap "Add a new account" to link bank account
Enter your account details and confirm
Verify via micro-deposit from Crypto.com

Once verified, your bank account will be linked to your Crypto.com profile.

Key tips:

Make sure your legal name matches exactly between both accounts
Double and triple check your account number, SWIFT codes, etc before submitting
Be patient and allow a few business days for micro-deposits to verify

Now the fun part…initiating the withdrawal!

Step 4: Initiate the Withdrawal

You‘ve come all this way, so now it‘s finally time to transfer your funds from Crypto.com to your bank account.

Follow these steps:

In your fiat wallet, tap "Transfer"
Select currency and enter the withdrawal amount
Choose your verified bank account as the recipient
Carefully check the provided bank details
Tap "Confirm" to submit withdrawal request

Be extremely diligent when entering the bank details – double and triple check them!

I also suggest starting with a small test withdrawal first before moving large amounts.

Pro tips:

Withdraw during business hours for faster processing
Note that fees will be deducted from the amount
Be aware of daily/monthly withdrawal limits based on verification level

Almost there! Just a short waiting period while the funds journey to your bank account.

Step 5: Wait for Funds to Hit Your Bank Account

After you confirm the withdrawal, it will take approximately 3-5 business days for the funds to reach your connected bank account via wire transfer.

Just sit back, relax, and wait for the money to hit your bank!

Be aware that on rare occasions, it can take longer than 5 days due to delays at intermediary banks. If it has been over 5 business days, you may want to contact Crypto.com support.

You can monitor the status of your withdrawal inside the Crypto.com app. It should update as the transfer is processed and completed.

Congratulations, you did it! Wasn‘t too painful, right?

Now let‘s cover what to do if you run into any hiccups along the way…

Troubleshooting Crypto.com Withdrawal Issues

Despite the steps being straightforward, sometimes withdrawals from Crypto.com don‘t go as planned.

Here are some common issues and how to resolve them:

Withdrawal rejected: Your withdrawal may be rejected for reasons like insufficient funds, incorrect bank details entered, or suspicious activity detected. Carefully review the rejection reason and fix before re-submitting.

Withdrawal pending: If a withdrawal is stuck pending beyond 5 days, check for any notifications within the Crypto.com app related to the issue. If none, contact their customer support for assistance.

Funds not received: First, verify the withdrawal successfully processed in the Crypto.com app. If it did, follow up with your bank to trace the wire transfer – there may be a holdup on their end.

Can‘t link bank: Double check your banking details are 100% accurate. The name must fully match between Crypto.com and bank account. Contact customer support if link failures persist.

Account locked/disabled: Crypto.com may disable withdrawals if very unusual activity occurs. Reach out to their support team to investigate and re-open your account.

Withdrawal limits: Verify your limits based on account verification level. You may need to upgrade your verification status to access higher withdrawal amounts.

Failed ID verification: Ensure all personal details you submit for verification match your documentation exactly. Contact support if you have repeated verification failures.

Other issues: Don‘t hesitate to reach out to Crypto.com‘s customer support team if you encounter any other problems. They have 24/7 live chat and email support.

Hopefully these tips will help you troubleshoot any potential withdrawal issues! Now let‘s answer some common questions…

Frequently Asked Questions (FAQ)

Here are answers to some of the most frequently asked questions about withdrawing funds from Crypto.com:

What are the fees to withdraw to bank?

Withdrawal fees vary based on currency, but typically range from 0.5% to 1.2% of the transfer amount. There is a minimum fee equivalent to $20 USD.

How long does a bank withdrawal take to process?

In most cases, expect 3-5 business days for wire transfers to reach your bank account. Delays are possible.

What are the withdrawal limits?

Daily/monthly withdrawal limits depend on your account verification level. Basic verification starts at $50,000 per month. Higher tiers support up to $1 million in withdrawals per month.

Can I withdraw to my credit or debit card?

Unfortunately, Crypto.com does not currently support withdrawing funds directly to payment cards – only bank accounts.

Do I need to verify identity to withdraw funds?

Yes, you need to complete identity verification before being able to withdraw. Higher limits require submitting additional documentation.

Does Crypto.com process withdrawals as wire transfers?

Yes, fiat currency withdrawals from Crypto.com are completed via wire transfer before hitting your bank account. This enables faster processing.

Can I withdraw crypto to an external wallet?

Absolutely! You have the option to withdraw cryptocurrencies directly to any external crypto wallet address if desired.

How do I add a new withdrawal bank account?

You can link additional bank accounts through the withdrawal screen in your Crypto.com fiat wallet. Just follow the on-screen instructions.

Are there per transaction withdrawal limits?

Yes – the maximum per withdrawal transaction is currently $100,000 for verified accounts. Contact support if you need this limit increased.

And that wraps up the FAQ! Hopefully this thorough guide gave you all the knowledge needed to withdraw your funds from Crypto.com like a pro. Now you can bank those crypto gains!

Let me know if you have any other questions. And good luck on your Crypto.com withdrawal journey!