You can withdraw your cash at any time, provided your account is validated and the funds have fully cleared.
Note: You are able to hold multiple currencies on account with us - the only restriction is that when you withdraw, you must be sure your bank will accept the currency you ask us to send. Most banks will automatically convert the funds into your home currency, usually at an expensive rate. Some banks will just reject the transfer and return the funds to us. Please check with your bank before withdrawing a foreign currency.
The procedure
When will I receive my money?
Withdrawal requests received before midnight GMT will be placed in a batch to be processed on the next working day. The time it takes for your funds to reach your bank account will vary according to the following:
For transfers to US banks:
We will typically pay you using ACH. $10 will be deducted for this service to cover banking costs.
Where an ACH is not possible we will pay you using SWIFT. $30 will be deducted for this service to cover banking costs.
Note: Exact transfer times may vary depending on your bank's time zone & service levels. Your withdrawal may show as 'unprocessed' until around 5pm UK time.
For transfers to UK banks:
- Withdrawals of £20,000 and above, or at your request, will be processed by CHAPS. Ordinarily a CHAPS payment will reach you on the first working day after you enter your withdrawal request. £20 will be deducted for this service to cover banking costs.
- Withdrawals below £20,000 will be processed by BACS. Ordinarily a BACS payment will reach you on the third working day after you enter your withdrawal request. This transfer is free of charge.
Note: Exact transfer times may vary depending on your bank's service levels. Your withdrawal will show as 'unprocessed' until around 3pm UK time for CHAPS transfers, and around 5pm UK time for BACS transfers.
For transfers to EU, European Economic Area and Swiss banks:
We will pay you using SEPA. Ordinarily a SEPA payment will reach you within a few working days of entering your withdrawal request. €5 will be deducted for this service to cover banking costs. Your bank may deduct additional charges (typically around €20).
Note: Exact transfer times may vary depending on your bank's time zone & service levels. Your withdrawal will show as 'unprocessed' until around 3pm UK time.
For transfers to all other banks:
We will pay you using SWIFT. A deduction to cover banking costs will be applied. The amount will depend on the currency of the transfer, but will not usually exceed $30.
Note: Exact transfer times may vary depending on your bank's time zone & service levels. Your withdrawal will show as 'unprocessed' until around 3pm UK time.
Any deductions to cover banking costs will be taken out of the withdrawn amount - you do not need to allow for charges.
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