Can I Withdraw from Bitstamp to My Bank Account?
Having a cryptocurrency portfolio can be lucrative and enjoyable, but emergencies can happen. You need to get your funds as soon as possible, and Bitstamp makes it easier. You can request a transfer to your bank account, it can be as fast as one to two business days for an ACH. You can expect to wait for five business days if your transfer is international.
Using cryptocurrency exchange sites can be fun when you watch your investment grow over time, but sometimes you'll need your investments to payoff fast. You shouldn't have to wait long to use part of your investment in case of an emergency. Read on to learn how to withdraw your Bitstamp funds into your bank account.
First Things First
Every financial institution must follow policies similar to banks. Bitstamp allows you to withdraw your money but please keep in mind the wait times. Domestic and ACH transfers take one to two business days while international transfers can take up to five business days.
UK customers can receive their funds faster through the FPS, or Faster Payments Service, if their banks are part of the FPS arrangement.
If you're not in the UK but you're in Europe, you can receive your funds through the SEPA system if your bank is within this particular zone. SEPA, or Single Euro Payments Area, was set up by the EU to improve the way cashless payments are processed between countries that use the euro. Transfers to SEPA accounts also take one to two business days to process.
Some transfers have limits depending on which Bitstamp branch supervises your region. ACH transfers have a limit of $50,000 per day while FPS limits transactions to £250,000 a day.
Your Withdrawal Next
When you're ready to make your request, sign in to your Bitstamp account and select the Withdrawal option from the side menu. Click on Bank Transfer and choose the amount, the bank account, and currency type for your withdrawal. You can also opt to add a new bank account if needed, but please keep in mind that all bank accounts must be personal ones in your name only. Joint and other account types may require longer processing and more information.
If you run into any problems or have questions, you can call Bitstamp customer service here.
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