Withdrawing funds from your KoinFlux account: FAQ
In order to place a withdrawal request, please follow these steps:
- Click on the Withdraw Funds tab in the left-hand menu
- Enter the amount to withdraw (in USD)
- Complete the electronic withdrawal form as required
- Click “Submit”
Funds are withdrawn from your available balance. Please ensure your available balance is greater than the requested withdrawal amount.
If you have funds invested in open positions, you can free up more funds by closing positions. Once a position is closed, the invested amount net of any profit or loss will be sent back to your available balance.
NOTE: Withdrawn funds return to the place they were deposited from and profits are preferred by KoinFlux to be withdrawn to your bank (via ACH transfer), meaning the complete amount of your withdrawal may not return in full to only your debit card. You may find that some of your withdrawal amount went to your bank or via a wire transfer. This is due to regulatory purposes.
For steps on transferring your crypto to the KoinFlux Money wallet, click here.
There is a seven-day hold from the date of deposit before all funds deposited via online banking can be withdrawn.
After that hold period, withdrawal requests take up to two business days for KoinFlux to process, providing we have all the necessary information. Once processed by KoinFlux, online bank transfers take generally less than three business days but in some cases can take more.
Wire transfers can take up to seven business days to receive funds.
Debit card withdrawals usually take around four business days.
In some instances, you may be able to cancel your withdrawal request. To cancel your withdrawal request, please follow the steps below:
- Enter your trading account and click on the “Withdraw Funds” tab.
- A pop-up message will appear. Use the “click here” link to view your withdrawal history.
- Click on the “Reverse” button.
- Confirm that you wish to cancel the request.
All funds, including withdrawal fees, will be immediately returned to your account balance.
Please note that if your transaction status is “In Process,” you will be unable to cancel on the platform. In this case, please contact KoinFlux customer service, and we will be happy to assist you.
The minimum amount for withdrawal is $30. You must have withdrawable funds available. Your account needs to be verified, meaning a green checkmark appears on your profile (if you haven’t yet verified your account, please contact us and upload the required documents). Your account must also be in good standing with us (not in review).
Your personal information, payment details, and accompanying documentation are protected by KoinFlux’s strict information security policy. Rigorous guidelines are in place to ensure your private information is safeguarded.
You can find more information about KoinFlux’s Privacy Policy here.
KoinFlux USA LLC does not charge a withdrawal fee. Details of our fees can be found on the Pricing & Transaction Fees page. Please note that you may also be charged a fee by your bank for receiving the transfer.
As part of the withdrawal process, KoinFlux reserves the right to send the requested funds to the payment method that was used to deposit funds into your trading account.
If you have deposited funds to your account via debit card, KoinFlux will usually process your withdrawal request as a refund of your deposit(s).
When you make a deposit using a new debit card, it will automatically be added to the list of available payment methods for subsequent withdrawals.
However, in some instances, card issuer restrictions may prevent us from doing this. For example, we cannot refund debit card deposits that were made more than 12 months before the withdrawal request.
This is why, for every withdrawal request, we may ask you to provide an alternative payment method – your bank details for a wire transfer – as a backup, in case your original deposit method cannot be refunded.
As soon as your withdrawal is processed, we send you an email detailing where the funds have been sent. You can also see this information in your withdrawal dashboard by clicking here.
We will notify you via email once we complete processing your withdrawal request. In addition, you can click on “Portfolio” and then on the History tab to view the current status of your withdrawal.
Check the confirmation email you received for the date your withdrawal request was processed. Alternatively, you can view this information on the platform by clicking on “Portfolio” and then on the History tab.
If more than seven business days have passed and the funds still have not appeared in your bank account statement, please contact us.
We will request that you provide us with a statement showing the incoming and outgoing transactions from the time the withdrawal was processed until the time you contacted us.
Please make sure that your name, the transaction dates, and the payment details are clearly legible.
