how to withdraw money from bybit to bank account

To withdraw funds from Bybit to a bank account, first verify your identity through KYC before selecting the Faster Payments option and entering beneficiary details.

Oct 30, 2024 at 10:39 am

How to Withdraw Money from Bybit to Bank Account

1. Verify Your Identity

• Go to the Bybit website and log in to your account.
• Click on "My Assets" and then "Withdraw."
• You will be prompted to verify your identity through Know Your Customer (KYC) procedures.
• This involves providing personal information, proof of identity, and proof of residence.

2. Select Withdrawal Option

• Once your identity is verified, you can choose how you want to withdraw your funds.
• Bybit supports bank transfers (Faster Payments) and crypto withdrawals.

3. Enter Withdrawal Information

• For bank transfers, select "Faster Payments" and enter the following information:

  • Bank account number
  • Bank swift code
  • Intermediary bank
  • Beneficiary name
• For crypto withdrawals, select the cryptocurrency you wish to withdraw and enter the wallet address.

4. Confirm Withdrawal

• Enter the amount you wish to withdraw and click on "Confirm."
• You will be sent a verification code to your email or phone number.
• Enter the code and click on "Submit."

5. Processing Time

• Bank transfers typically take 1-3 business days to process.
• Crypto withdrawals are processed within minutes.

6. Fees

• Bybit charges a withdrawal fee for both bank transfers and crypto withdrawals.
• The fees vary depending on the withdrawal method and the amount being withdrawn.

Tips:

• Ensure that you have sufficient funds in your Bybit account to cover the withdrawal amount plus any fees.
• Provide accurate and up-to-date information during the withdrawal process.
• Check with your bank for any additional fees or restrictions that may apply to international transfers.