Unfortunately, our US banking partner Prime Trust, also our sole partner for USD payments, has expectedly halted USD deposits and withdrawals. This sudden decision is the result of the order of the Nevada Financial Institution which was received on Wednesday, June 21st, 2023.
This means that at the moment, we are temporarily unable to process new USD deposits and withdrawals. We would like to assure you that all other services are available for our clients and Coinmetro is operating as usual, including other fiat and crypto deposits and withdrawals. What other methods can I use to withdraw?
In the meantime, until this matter is solved, please do not send any new USD deposits to our previously available USD banking details. If you have already sent funds to those details, please inform us immediately.
Prime Trust is actively engaging the Nevada Financial Institution Division order, aiming to remediate any concerns and return to business as soon as possible. At the same time, after this unforeseen decision, we are entirely focused on establishing new partners for USD payments.
We sincerely apologize for the inconvenience this has caused. We will keep you updated about this as soon as we have a resolution.
How to Withdraw USD
Firstly, you'll need to head over to your Coinmetro Dashboard. Then, click on either "Withdraw" or "Send" depending on which version of Coinmetro you are using:
On Desktop or Browser
On the Mobile App
Now, from the dropdown menu, search for USD. You will be presented with two different options to withdraw USD to your bank account:
USD - US Dollar (ACH),
USD - US Dollar (Domestic Wire).
The first time that you go to withdraw USD, and if you have not made a USD deposit or withdrawal before, you will need to carefully read and confirm that you have read, understood and agree to the Prime Trust Account Terms. It is important that you carefully read this before requesting your withdrawal.
Please note that the verification for your first USD withdrawal may take up to 5 business days to be approved due to additional checks from our US banking partner. You will receive an email once this has been completed.
If you are a US resident, you will also need to enter your Social Security Number for Prime Trust verification purposes. If verification fails, unfortunately, we are unable to manually verify your account and you would need to select another withdrawal option.
1) Select your withdrawal method
For USD ACH Withdrawals
If you are located in the United States, you can choose the USD ACH Bank Transfer option from the dropdown menu.
Select the ACH account that you would like to withdraw to. If you have not added an account yet, you will need to create an account with Plaid so that funds can be authorized to be sent to your bank account.
For USD Domestic Wire Withdrawals
Select the USD Domestic Wire option from the dropdown menu.
Now, you will need to enter your Account Number and Wire Routing Number.
2) 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 Chase bank account".
3) 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.
4) 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.
5) 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 Withdrawals)
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 be processed as usual.
For Business Accounts
If you have a business account, a USD withdrawal will need to be done manually as unfortunately, our banking partner does not handle our business transactions in USD. Please email us at email@example.com with the details of your withdrawal and we can then process the withdrawal manually.
How long does it take?
Please be mindful that ACH transfers take up to four business days on average, and Domestic Wire withdrawals can take up to two business days.
We kindly ask that you allow the above-indicated timeframe (not including weekends) for your funds to arrive in your bank account before contacting customer support. Banking cut-off times, weekends and holidays can affect how long it takes for funds to reach you.
What are the fees?
Coinmetro charges a flat fee of $20 for a USD Domestic Wire withdrawal or $5 for a USD ACH withdrawal. We advise you to confirm with your bank about any charges on their end.
Where can I send the funds?
Funds can only be sent to a bank account in your own name that’s within the United States. Kindly be informed that the SWIFT withdrawals are currently disabled for USD. We are working on a solution to have them enabled in the near future.
What if my funds haven't arrived within the specified timeframe?
If you are experiencing any delays with your USD withdrawal, we advise you to please follow the link below. Where Is My USD Withdrawal?
If your funds haven’t arrived within the above-indicated timeframe, 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