Getting Cash From Your Crypto Exchange: A Complete Bank Transfer Guide

Want to convert your crypto holdings into real money and send it straight to your bank? Here’s everything you need to know about moving funds from a crypto platform to your checking account.

Preparation & Security Setup

Before you initiate any withdrawal, make sure your account is properly verified. Most platforms require identity verification to unlock withdrawal functionality. Check your account’s verification level—higher verification tiers typically allow larger withdrawal amounts. Enable Two-Factor Authentication (2FA) on your account for added security, since you’ll likely need to confirm the withdrawal through an additional code.

Accessing the Withdrawal Function

Start by logging into your exchange account through the web or mobile application. Navigate to the financial section of your dashboard—this is usually found under “Wallet,” “Finance,” or “Funds” depending on your platform. Look for the withdrawal option, which is typically displayed alongside deposit and transfer options.

Selecting Your Output Method

When you reach the withdrawal interface, you’ll need to specify that you want to withdraw fiat currency (regular money like dollars or euros) rather than cryptocurrency. Select your desired currency from the dropdown menu. Next, choose your withdrawal method. Most platforms offer several options:

• SEPA transfers (common across European banks)
• SWIFT/International wire transfers (for cross-border transactions)
• Local bank transfer (if available in your region)
• ACH transfers (typically for US-based accounts)

Each method has different processing times and fee structures.

Entering Your Banking Information

Provide your bank account details accurately. You’ll typically need:

• Your full name as it appears on your bank account
• Account number
• SWIFT code or BIC code (for international transfers)
• Your bank’s name and address

Double-check everything before proceeding—incorrect information can cause transfers to fail or be rejected by your bank.

Amount & Confirmation Process

Enter the amount you wish to transfer. The platform will display any applicable fees and the final amount your bank will receive. Review the summary carefully—verify the receiving account, amount, and fees. Submit your withdrawal request and complete any security verification prompts (usually 2FA codes).

Monitoring Your Transfer

Processing times vary significantly based on your withdrawal method and your bank’s location:

• Bank transfers within the same country: 1-3 business days
• International transfers via SWIFT: 3-5 business days
• SEPA transfers: 1-2 business days

You can track your withdrawal status in your account history. If funds don’t arrive within the expected timeframe, check your email for any notifications or contact customer support.

Important Considerations

Withdrawal fees depend on your chosen method—international transfers typically cost more than domestic ones. Verification requirements vary by platform and your account status; complete identity verification to avoid withdrawal holds. Minimum amounts may apply depending on your currency and region. Always ensure your bank account is active and in good standing before initiating a withdrawal.

By following this process, moving money from a crypto platform back to traditional banking is straightforward and secure.