A Bank Wire Withdrawal is the process of transferring funds from your Bitfinex account to a bank account registered in your name.
Important: Bitfinex supports fiat currency withdrawal of US Dollar (USD), Euro (EUR), Great British Pound (GBP), Japanese Yen (JPY) and Chinese Yuan (CNH).
- How to make a fiat withdrawal?
- Reminders as you enter your withdrawal information.
- When will the funds arrive in my bank account?
- Why are there delays in fiat withdrawals?
How to make a fiat withdrawal from my Bitfinex account?
To begin, make sure that your account is at the Full Verified level. You will find your account information on your verification page. If you have not completed the appropriate level of verification yet, you can begin or update your verification here.
Next, go to the Withdrawals page and select the fiat currency you wish to withdraw under Bank Wire.
Note: The minimum withdrawal amount in fiat currency is 10,000 USD/EUR/GBP, 1,000,000 JPY, and 75,000 CNH.
Important: If you do not have the funds available on your account, then the option to withdraw will not be available for selection.
Then, you will be directed to a page to enter your wire information, including the amount you wish to withdraw and the wallet you will be withdrawing from. Some of the remaining fields will have been auto-filled based on the information you entered during the verification process.
Note: To expedite our processing, you can tick Express wire at the bottom for a Bitfinex bank wire withdrawal that is sent out within one business day. There is a 1% processing fee for this expedited wire. More information on fees can be found on the Fees page.
Also, you will be asked to include details of the bank you are withdrawing to. Your bank account should match the one provided during the verification procedure.
Note: If it is the new bank account, please upload the recent bank statement to the Verification Page > Manage Documents in advance.
Additionally, you will be given the option of adding an intermediary bank during this phase. If your bank requires the wire to be received through an intermediary bank, please include the intermediary bank's information.
To complete your transaction, click Request Withdrawal, which will send an email confirmation to the email address associated with your account. Your withdrawal will begin processing once final confirmation is received.
Take particular note of the following reminders as you enter the withdrawal information:
- Incomplete information may result in delays or additional bank charges imposed by the processing bank.
- If mistakes are made in the bank details provided by the customer, and if this results in the wire being returned, Bitfinex will reserve the right to charge a handling fee of $25 on top of the additional fees charged by the bank to resolve such errors. Bitfinex shall not be responsible in case of delays or by the customer. It is the responsibility of the customer to properly check all details in advance.
- Please check beforehand whether your account can receive the transferred currency. If wires are returned because the account does not support the payment in your withdrawal currency, all additional charges are to be paid by the client.
When will the funds arrive in my bank account?
Fiat withdrawal processing timeframes vary according to whether you choose Express withdrawal or a Regular bank wire.
- A Regular bank wire withdrawal is sent out from Bitfinex within 5 - 10 business days and credited to your account following processing by the receiving party. This service has a processing fee of 0.1%.
- An Express bank wire withdrawal is sent out from Bitfinex within 1 business day and incurs a 1% processing fee.
Important: The stated timeframe may be subject to delays due to the recipient institution's processing times. Bitfinex cannot guarantee that the receiving entity will process your withdrawal within a certain time frame because the receiving entity will have its own procedures and processing delays.
Why are there delays in fiat withdrawals?
The completion of bank wires depends on our own internal risk processes, our payment processor, corresponding banks and your personal bank. Delays, often out of Bitfinex’s control, can occur at each stage of the transaction.
Even though we cannot give an exact timeframe for when a wire withdrawal will be completed, the approximate time it takes to withdraw fiat currencies from our platform is 7 business days. However, it is not unusual for transactions to take up to 15 business days in order to comply with proper AML/KYC procedures.
If you have any questions regarding your wire withdrawal, please contact Bitfinex Support for further assistance.