Withdrawing funds from your Webot account is simple and secure. This guide walks you through the process of transferring USD from your trading account directly into your bank account.
Step 1: Verify Your Account details
Before you can withdraw USD, ensure that your Webot account is fully verified and the documents are up-to-date and not within the final 1-month of expiry:
If you had been using Webot and verified using a document with an expiry date, such as:
State Driver's license (front and back)
Federal/State-issued ID card (front and back)
You may reach out to Webot customer support to allow you to resubmit your latest document to ensure your withdrawal experience process is smooth.
Step 2: Check if your funds have a withdrawal holding time from USD deposits
If you have recently deposited your account through USD deposit methods such as Bank Account (ACH), Debit Card, and Wire Transfer, each of the deposit methods has varying deposit holding times, and this will prevent you from being able to withdraw the funds.
Best to check your withdrawable time before making any asset conversion or withdrawals. Please click here to check the steps for withdrawable time.
Once everything checks out, you are ready to convert assets into USD.
Step 3: Convert the crypto assets into USD
Before you can withdraw the USD, all traded assets are in their respective currencies. If you bought BTC, your assets are in BTC even though your account dashboard indicates your account is in USD($) denomination; it is calculated altogether, hence the assets need to be converted into USD.
If you need to perform a Convert, please navigate to the following path:
APP: Account → Swap
WEB: Trade → Convert
To convert your assets into USD, please refer to our guide for step-by-step instructions. Once the conversion from cryptocurrency to USD is complete, your funds will be ready for withdrawal.
Step 4: Perform Fiat Withdrawal
We currently offer two methods for fiat withdrawal: Bank Account and Wire Transfer. Please navigate to the withdrawal page using the following paths:
APP: Tap the three dots on the homepage → Withdraw → Select your preferred withdrawal method.
WEB: Go to Wallet → Withdraw USD → Select your preferred method and ensure you are on the "Withdraw" tab.
Once you are on the Withdraw page, please provide and submit the following details to ensure a smooth transaction:
1. Amount: Enter the amount you wish to withdraw (before fee). You will see the estimated final amount you will receive after the processing fee is deducted.
2. Bank Information: Enter your bank account details, including the ABA routing number, Bank Name, and Account Number, followed by your personal information.
3. Verification Document: Upload a proof of bank account ownership that clearly shows your name and account number for verification purposes.
4. Submission: Double-check all entered information and uploaded documents. Once confirmed, click [Submit] to successfully initiate your fiat withdrawal.
FAQ
Q: What is the standard timeline for withdrawals to be processed?
A: Withdrawals are normally processed within 3-7 business days. Please note that delays may occur due to public holidays or banking system processing times. If your funds have not arrived after 7 calendar days, please contact Webot Support for assistance.
Q: What types of supporting documents are accepted for verification?
A: The proof must clearly contain your full name and your bank account number. We accept a Bank Statement, a Bank Credentials page, or an official letter from the bank. We strongly recommend providing a Bank Statement to ensure your verification passes smoothly.
Q: Why must my bank details match my supporting documents?
A: To ensure the security of your funds and maintain regulatory compliance, you can only withdraw to a bank account that matches your Webot identity verification (KYC). Therefore, the receiving bank account details and your supporting documents must match exactly; otherwise, the withdrawal will fail.
Q: Are there any restrictions on the receiving bank account?
A: Yes. The receiving bank must be the account owner’s name (matching your Webot KYC), and we do not support third-party recipients or Joint Accounts. Additionally, the minimum withdrawal amount is 50 USD. For information on limits and fees, please refer to our Withdrawal Methods Article.
Q: Why is my withdrawal failing even though my information is correct?
A: This might be due to your KYC identification (ID) having expired; your withdrawal attempts will continue to fail. If this occurs, you will need to contact Webot Support to update your identity documents and escalate the issue.
Q: I can't find a single document from my bank that shows both my name and account number. What should I do?
A: If your online banking doesn't provide a combined document, please contact your bank and request a formal "Bank Verification Letter" or a "Full Account Statement." These official documents are specifically designed to include all your credentials on one page to satisfy verification requirements.
Q: Can I send multiple separate documents to prove it’s my account?
A: Our system currently only supports a single file upload. If you cannot get a single document from your bank, you must merge your documents into one PDF or a single photo collage.