How to Withdraw Money from Coinbase to Your Bank Account

Want to turn your crypto gains into cold hard cash in your bank account? Withdrawing funds from Coinbase directly to your bank account is one of the easiest ways to cash out your crypto holdings.

In this detailed guide, I‘ll show you step-by-step how to withdraw money from Coinbase to your connected bank account. Whether you‘re a cryptocurrency novice or experienced trader, this guide has all the information you need to successfully transfer funds from Coinbase to your bank.

By the end of this guide, you‘ll be able to:

Link a bank account to your Coinbase account
Understand the benefits of withdrawing to a bank account
Review the bank withdrawal fees and limits
Follow the step-by-step process of selling crypto and withdrawing cash on Coinbase
Troubleshoot any issues with the withdrawal process

Let‘s get started!

Overview: Withdrawing Cash from Coinbase to Bank

Withdrawing funds from your Coinbase account directly to your bank account is a straightforward process. Here‘s a quick overview of the steps:

Link your bank account to Coinbase
Sell your cryptocurrency to cash on Coinbase
Withdraw funds to your bank account
Receive funds in bank account in 1-2 business days

Below I‘ll cover each step of the process in detail, including walkthroughs from the Coinbase mobile app. But first, let‘s look at why you might want to link a bank account for withdrawals in the first place.

Benefits of Withdrawing Funds to Your Bank Account

Here are some of the major benefits of withdrawing cash funds directly to your bank account from Coinbase:

Fast access to your funds – Once the withdrawal is processed, expect to see funds in your connected bank account within 1-2 business days. Much faster than paper checks.

Low fees – Bank account withdrawals have minimal fees, if any, making it one of the cheapest options.

High withdrawal limits – You can withdraw up to $50,000 per day with a fully verified account. Much higher than debit cards.

Added security – By linking your bank account, you add an extra layer of identity verification and security to your Coinbase account.

Recurring buys – With a linked bank account, you can schedule recurring crypto buys daily, weekly or monthly. Great for dollar cost averaging!

Deposit & withdrawal – Linking your bank account enables easy deposits and withdrawals of both crypto and cash. Full financial access!

Now let‘s dive into step 1 – linking a bank account to your Coinbase account.

Step 1: Link a Bank Account to Coinbase

In order to withdraw funds to your bank account, you first need to link the account to your Coinbase account. Here‘s how:

Log into Coinbase and go to settings
Select "Linked Accounts" then "Link New Account"
Choose your bank and enter your account details
Verify with test deposits (takes 1-2 days)

I‘ll walk you through each part of the bank account linking process below.

Access Linked Accounts

First, log into your Coinbase account on the mobile app or website. On mobile, tap the profile icon in the bottom right, then tap Settings. On desktop, click your profile picture then Settings.

Next, scroll down and select "Linked Accounts" under Connections. This is where you‘ll link your bank account.

Select Bank Account Type

On the Linked Accounts page, click the blue "Link New Account" button.

You‘ll then need to choose your bank account type:

US bank account – Link accounts from US banks by providing your account number and routing number.
European bank account – Link IBAN accounts for European Economic Area (EEA) banks.

Select the option that matches your bank account you wish to link.

Enter Your Bank Account Details

After selecting your bank account type, you‘ll need to enter your account details.

For a US bank account, provide:

Account holder name
Routing number
Account number

For a European IBAN account, provide:

Account holder name
IBAN
SWIFT

Double check your account details are entered correctly before submitting. Even one incorrect digit will cause issues verifying and withdrawing.

Verify Your Bank Account

The final step is verifying your bank account by making two small test deposits. This confirms you control the account.

After submitting your account details, Coinbase will make two micro-deposits between $0.01 and $0.99 to your bank account within 1-2 business days.

Once you see these test deposits hit your bank activity, return to Coinbase to verify the amounts. After successfully verifying, your bank account will be linked and ready for withdrawals!

That completes the process of linking your bank to enable withdrawals. Now let‘s look at the fees and limits involved.

Coinbase Bank Withdrawal Fees and Limits

When withdrawing cash from Coinbase to your bank, it‘s important to be aware of any potential fees or withdrawal limits:

Fees

US Bank: Free (Coinbase covers network fee for first $50k per month)
European Bank: €0.15 euro standard SEPA withdrawal fee

Withdraw Limits

Up to $50,000 per day for fully verified users
Limits vary based on verification level

Delivery Time

1-2 business days is standard delivery speed once initiated
Only business days count toward delivery estimate

As you can see, fees are minimal and limits generous, especially for fully verified users withdrawing to a US bank account. Now let‘s walk through the withdrawal process step-by-step.

Step-by-Step Guide to Withdraw Money from Coinbase

Ready to withdraw your funds? Here is a step-by-step guide to withdrawing cash from Coinbase to your connected bank account.

I‘ll use screenshots from the Coinbase mobile app, but the process is similar on desktop.

Step 1. Sell Your Crypto to Cash

First, we need to sell some cryptocurrency to cash in order to withdraw funds.

Open the Coinbase app and tap the two arrow "Sell" button on the bottom. This will bring up the asset selection screen.

Choose which crypto asset you want to sell by tapping on it. Then enter the amount you want to sell either in crypto quantity or a dollar amount.

Double check you are selling the right asset and amount. Then tap "Preview Sell" to go to the next screen.

On the sell preview, review the full sell order details including total amount, fees, and total cash proceeds. Tap "Sell Now" if everything looks good.

You‘ve now converted your crypto to cash reserves on Coinbase, ready to withdraw!

Step 2. Tap "Withdraw Funds"

After selling to cash, you‘ll see a "Success!" confirmation of the transaction.

To withdraw the funds, tap the blue "Withdraw Funds" button at the bottom.

This will take you to the cash out withdrawal page.

Step 3. Select Bank Account and Amount

On the cash out page, select the bank account you want to withdraw the funds to from the dropdown menu.

Next, enter the amount in dollars you wish to withdraw. You can withdraw some or all of your cash balance.

Double check the bank account number and withdrawal amount before continuing.

Step 4. Review and Confirm Withdrawal

When ready, tap "Continue" which will take you to a withdrawal confirmation page.

Give the full withdrawal details a final review before submitting. Verify the bank account and expected delivery date look correct.

If everything checks out, tap "Confirm Withdrawal" to complete moving funds from Coinbase to your bank.

Step 5. Receive Funds in Bank Account

That‘s it, the withdrawal is now processing!

You‘ll receive email and push notification updates as the withdrawal is completed. Expect funds in your bank account within 1-2 business days.

Once the transfer shows as completed in Coinbase, you‘ll see the funds deposited into your connected bank account shortly after.

And those are all the steps to withdraw cash funds from your Coinbase account to your bank account. Well done!

Troubleshooting Coinbase Bank Withdrawals

Having issues withdrawing funds from Coinbase to your bank account? Here are some troubleshooting tips:

Confirm your bank account is fully verified on Coinbase. Check for test deposit verifications.
Make sure your withdrawal amount does not exceed the daily limit based on your verification level.
Check for typos in the bank account details – an incorrect digit will cause problems.
Note withdrawals only process on business days. Holidays and weekends delay deposit arrival.
Make sure your bank accepts incoming ACH transfers if you‘re in the US.
Contact Coinbase customer support if your withdrawal hasn‘t completed after 3 business days.
Try linking another verified bank account as the destination to rule out any account issues.
As a last resort, unlink the problem bank account and re-add it following the verification steps.

With a properly linked and verified bank account, you shouldn‘t have any issues withdrawing cash from Coinbase. But if you do encounter problems, use the troubleshooting tips above or reach out to Coinbase customer support.

Frequently Asked Questions

Here are answers to some of the most common questions about withdrawing funds from Coinbase to your bank account:

How long does a Coinbase bank withdrawal take?

Bank withdrawals from Coinbase take 1-2 business days to reach your bank account once initiated. Weekends and holidays delay processing times.

What are the fees for Coinbase bank withdrawals?

For US bank accounts, withdrawals are free for the first $50,000 per month. For European banks, there is a €0.15 SEPA transfer fee.

Can I withdraw cash without verifying my identity?

You must be fully verified on Coinbase up to level 3 to withdraw funds to your bank account. This requires valid ID and proof of address.

What is the daily/weekly/monthly withdrawal limit?

Fully verified users can withdraw up to $50,000 per day. Weekly and monthly limits depend on verification level.

How do I add a new bank account for withdrawal?

You can link additional bank accounts to Coinbase from your account‘s Settings > Linked Accounts page. Add details and complete test deposits.

Can I withdraw other currency besides USD?

Coinbase supports withdrawing Euros and British Pounds as well to banks in supported regions.

Is it safe to link my bank account to Coinbase?

Yes, Coinbase uses encryption and fraud prevention measures to keep your linked bank account secure. Funds are FDIC insured up to $250,000.

And that covers everything you need to know to safely and easily withdraw funds from Coinbase to your connected bank account. You‘re now ready to cash out your crypto portfolio!