How to Withdraw Money From Crypto.com to Bank Account

Have you been investing in cryptocurrencies on Crypto.com and now want to withdraw some funds back to your bank account? Don‘t worry, I‘ll walk you step-by-step through how to securely withdraw money from your Crypto.com account to your connected bank account.

As a long-time Crypto.com user myself, I know the withdrawal process can seem complicated for beginners. But it‘s actually straightforward once you know the steps. By the end of this guide, you‘ll be a pro at withdrawing from Crypto.com!

How Does Withdrawing from Crypto.com Work?

Before we jump into the step-by-step process, let me quickly explain how withdrawing money from Crypto.com works:

First, you need to sell some of your cryptocurrency for fiat money (like US dollars) within the Crypto.com app.
Then you can withdraw those funds from your Crypto.com fiat wallet to your bank account.
To do this, you need to connect your bank account details within Crypto.com.
Once your bank account is linked, you can initiate withdrawals of fiat currency from Crypto.com to your bank.
The withdrawal takes 3-5 business days to fully process.

See? It‘s not too complex! Now let‘s get into the details…

Step 1: Sell Your Crypto to Fiat in the App

To withdraw money to your bank, you first need to sell some of your cryptocurrency for fiat currency within the Crypto.com app.

Here are the steps to sell your crypto:

In the Crypto.com app, tap the "Crypto Wallet" tab at the bottom.
This will display your portfolio of coins. Tap on the cryptocurrency you want to sell.
For this example, let‘s say we are selling Ethereum (ETH). On the ETH screen, tap "Sell".
A selling screen will appear. Enter the amount in ETH you want to sell, or tap "Max" to sell your entire balance.
Select which fiat currency you want to convert to, like USD, EUR, GBP etc.
Tap "Sell" again to confirm the transaction details.
Carefully review the details on the confirmation screen, then tap "Confirm" to complete the sale.

Once the transaction processes, you will now have funds in your fiat wallet within Crypto.com, ready to be withdrawn!

Step 2: Transfer the Funds to Your Fiat Wallet

After selling to fiat currency, you need to transfer those funds specifically to your fiat wallet in Crypto.com, as this is where withdrawals happen from.

Here‘s how to transfer to your fiat wallet:

From your crypto wallet, tap the Crypto.com logo to go back to the main menu.
Select "Fiat Wallet" from the menu.
You should see your available fiat currency balances here.
If you don‘t see the funds from your recent crypto sale yet, give it a few minutes and refresh the page.
Once the funds are showing up in your fiat wallet balance, you‘re ready for the next step.

Step 3: Link Your Bank Account

To be able to withdraw fiat funds from Crypto.com to your bank, you need to link your bank account within Crypto.com first.

Here are the steps to add a bank account:

From your fiat wallet in the app, tap "Transfer".
Next, tap on "Withdraw".
You‘ll see the option to "Add Bank Account"- tap this.
Enter your banking details. In most cases you need to provide:

Your bank name
Account type
Account number
Routing number

Double check all details entered are correct.
Follow the verification steps which usually involve confirming two small test deposits. This links your bank.

Once the test deposits are verified, your bank account will be successfully connected to your Crypto.com app!

Top tip: I recommend linking a bank account in your own name, as third party accounts often get rejected.

Step 4: Initiate the Withdrawal

You‘ve sold crypto, transferred funds to your fiat wallet, and connected your bank account. Now it‘s time to initiate the withdrawal!

Follow these steps:

In your fiat wallet, tap "Transfer" then "Withdraw".
Select the fiat currency you want to withdraw.
Enter the amount to withdraw, or tap "Max" to do the full balance.
Select the bank account you want to withdraw to.
Carefully check all the details to make sure they are correct.
Tap "Withdraw" to confirm the transfer.
On the confirmation screen, give all the details one last review, then tap "Confirm" if everything looks good.

That‘s it! Your withdrawal from Crypto.com to your bank account has now been initiated.

Step 5: Wait 3-5 Business Days

This last part is the most difficult step of all – waiting patiently for your withdrawal to process!

Crypto.com quotes a time frame of 3-5 business days for bank withdrawals to complete, so don‘t panic if your funds don‘t arrive instantly.

You can check the status in your fiat transaction history. It will update as the transfer progresses.

Once the money hits your bank account, congrats – you‘ve successfully withdrawn funds from Crypto.com!

Now let‘s get into some frequently asked questions about the process…

Frequently Asked Questions

Does Crypto.com charge fees to withdraw to bank?

No! Crypto.com does not charge any fees to withdraw fiat funds from your Crypto.com fiat wallet to your bank account. Your bank itself may charge fees though, so check with them.

What‘s the minimum withdrawal amount I can do?

The minimum for bank withdrawals from Crypto.com is $100 USD equivalent. Any withdrawal requests below this amount will be rejected.

What are the withdrawal limits?

The maximum withdrawal limits from Crypto.com depend on your verification level within the app. Here are the limits:

Level 1 – $2,000 withdrawal per day
Level 2 – $10,000 per day
Level 3 – $50,000 per day

Higher limits may be available if you apply and are approved.

Can I withdraw crypto directly to my bank?

Unfortunately, no. You can only withdraw fiat currencies like USD, EUR, GBP to your bank. To get fiat into your Crypto.com account, you first need to sell your crypto to fiat within the app.

Why is my bank withdrawal still pending after 5 days?

Sometimes withdrawals can get stuck on "pending" beyond the estimated 3-5 days for processing. If this happens, contact Crypto.com support via the in-app chat. They will look into why your withdrawal is delayed and process it for you if needed.

How do I add a different bank account?

You can add multiple bank accounts within Crypto.com linked to your profile. To add another account, go through the same steps to link a bank starting at Step 3 in this guide. You can then choose which account to withdraw to.

Can I withdraw to someone else‘s bank account?

No, Crypto.com only allows withdrawing to bank accounts in your own name for security reasons. All bank accounts must pass verification.

What if I input the wrong bank details?

If you realize you entered incorrect bank details, contact Crypto.com support immediately before initiating any withdrawals. They can delete the wrong details so you can input the correct ones.

Analyzing Crypto.com Withdrawal Complaints

In researching this guide, I decided to take a deep dive into withdrawal complaints about Crypto.com from users online to find where people most often run into issues or errors.

The most common problems I discovered were:

Incorrect bank details entered – This results in rejected withdrawals. Always double check your details!
Attempting to withdraw before identity verification – You must complete KYC verification to Level 2 to withdraw fiat funds.
Entering third party bank accounts – As mentioned, only accounts in your name work.
Minimum withdrawal limit not met – Remember the $100 USD equivalent minimum!
Withdrawal limits exceeded – Check your daily withdrawal limit based on verification level.
Pending withdrawals longer than 5 days – Contact support if still pending after 5 days.
Legal jurisdiction issues – Some countries/regions have withdrawal restrictions.
Temporary holds for security reviews – Large withdrawals may prompt a risk review hold.

As you can see, most common issues arise from simple errors that are easily avoided – so take your time and triple check details at each step! Contact support right away if your withdrawal is stuck for any reason.

Tips for Smooth Crypto.com Withdrawals

Based on my own experience and researching other users‘ withdrawal issues, here are my top 5 tips for fool-proof Crypto.com withdrawals:

1. Verify your identity to Level 2 – This unlocks higher withdrawal limits and faster processing.

2. Carefully enter bank details – Typos happen! Double and triple check your account numbers.

3. Stick to your own bank accounts – Trying to withdraw to someone else‘s account often fails.

4. Watch the minimum limits – Don‘t request withdrawals smaller than $100 equivalent.

5. Check for holds – Large or sudden withdrawals may prompt a hold for review.

Following these tips will help avoid the most common roadblocks and make sure your Crypto.com withdrawals reach your bank account smoothly every time!

Final Thoughts

That sums up this complete guide to withdrawing your funds from Crypto.com to your connected bank account.

The process involves just a few simple steps:

Sell crypto for fiat within Crypto.com
Transfer fiat funds to your fiat wallet
Link your bank account details
Initiate the withdrawal
Wait 3-5 business days

The most important things to remember are:

Verify your identity for higher limits
Carefully enter the right bank details
Only withdraw to your own accounts
Check for any holds on large withdrawals

Be sure to double check all the withdrawal information entered before confirming transfers. Reach out to Crypto.com support if you encounter any issues.

I hope this guide has removed any confusion about withdrawing from Crypto.com to your bank. Let me know if you have any other questions – I‘m always happy to help fellow users master the world of cryptocurrency apps!