Firstly, you will need to head over to your Coinmetro Dashboard, and then click on 'Withdraw'.
On the Coinmetro Mobile App
1) From the dropdown menu, search for AUD
Select the AUD - Australian Dollar (SWIFT) option from the list. Make sure you have some AUD available in your Coinmetro account or you won't be able to select this option.
2) Enter your Account Number, SWIFT Code, Bank Name, Bank Country, and Beneficiary Address.
If you already have an account saved, or you're withdrawing to the same account you deposited from, you can select this by clicking on 'My Accounts' and select the account from the dropdown list. Otherwise, you'll need to manually enter your bank details.
3) Leave a reference note (optional)
You now also have the option to leave a reference note when making a withdrawal. For example, "withdrawal to my Commonwealth bank account".
4) Enter the withdrawal amount
Then, you'll need to enter the amount that you'd like to withdraw. You can manually type the amount you'd like to receive into the Amount box. Alternatively, you can click on or slide the toggle to the percentage you'd like to receive, or just click on Min/Max.
It is important to ensure that the amount is enough to cover withdrawal fees. If the amount is not sufficient, you won't be able to proceed.
5) Confirm your details
After carefully checking all information is correct, click Continue. This will then bring you to a summary of your transaction where again you can check the fees and the amount you will be receiving, and Confirm that this is correct.
Once confirmed, your withdrawal request will be successful. All that's left to do now is wait for your funds to arrive with you!
Note: It's important to ensure you double-check that all information has been entered correctly. Once a transfer is sent, it is not possible to edit any information and transactions are not able to be reversed.
6) Verify Your Withdrawal (if applicable)
Enter your 2FA code
If you have 2 Factor Authentication (2FA) enabled for withdrawals, you will need to enter your 2FA code to confirm the transaction. We suggest enabling 2-Factor Authentication to protect your account.
Confirm Your Withdrawal Destination (for First-Time Destinations)
The first time a withdrawal is made to a bank account, you will receive a pop-up message and also an email where you will need to confirm the transaction. Please head to your email account and click the button in the email with the subject "Please Confirm Your New Withdrawal Destination", then login to the platform to verify the destination. You will only need to do this once per bank account.
Once confirmed, your withdrawal will then process as usual.
- How long does it take?
Due to the nature of the SWIFT network, and funds having to travel between banks, it may take 2-5 working days to receive your funds. Please keep in mind that bank cutoff times, holidays, and weekends will also affect the speed of your transfer.
- Where can I send the funds?
Funds can only be sent to a bank account in your own name that can accept AUD.
- What are the fees?
Coinmetro charges a fixed fee of $70 AUD per withdrawal for AUD SWIFT withdrawals; however, transfers sent via the SWIFT network travel through intermediary banks along the way so you may receive less than we send out. We advise you to confirm with your bank about any charges on their end as well.
- What if my funds haven't arrived within the specified timeframe?
If your funds haven’t arrived within five working days of being completed, please contact your bank to see if they are able to locate the funds. Likely they would ask you for the following details:
your account details and account name
the date of transfer, amount, and currency
Coinmetro's bank details where funds were sent from.
Should they not be able to locate the funds, please let us know and our Finance team can investigate.
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