How to withdraw funds from Polymarket?

Before withdrawing funds from Polymarket, ensure your account is verified, has sufficient funds, and a valid bank account is configured to receive international wire transfers.

Feb 09, 2025 at 06:54 am

Key Points

• Understand the eligibility requirements for withdrawing funds from Polymarket.
• Guide on the step-by-step process of withdrawing funds from Polymarket.
• Detailed instructions on how to set up and manage your bank account for withdrawals.
• Step-by-step guide to connecting your bank account with Polymarket.
• Detailed explanation of the withdrawal processing timelines and fees involved.
• What to do if you encounter errors or delays during the withdrawal process.
• Common FAQs about withdrawing funds from Polymarket, addressed and answered.

How to Withdraw Funds from Polymarket

1. Check Eligibility

Before initiating a withdrawal, ensure that you meet the following eligibility criteria:

• Your account has been verified and in good standing.
• You have sufficient funds in your account.
• You have configured a valid bank account for withdrawals.

2. Set Up Bank Account

To prepare for withdrawals, set up a bank account that supports international wire transfers. You will need the following information:

• Bank name
• Bank address
• Swift/BIC code
• Account number

3. Connect Bank Account

Once your bank account is set up, connect it to your Polymarket account:

• Go to your account settings.
• Select the "Bank Accounts" tab.
• Click "Add Bank Account."
• Enter your bank details.
• Confirm the account by following the instructions.

4. Initiate Withdrawal

To withdraw funds:

• Go to your account dashboard.
• Click "Withdraw."
• Enter the amount you wish to withdraw.
• Select your preferred withdrawal method.
• Confirm the withdrawal.

5. Process Timelines

Once you initiate a withdrawal, it typically takes:

• 24 hours for the request to be processed by Polymarket.
• 1-3 business days for the funds to arrive in your bank account.

6. Fees

Polymarket charges a flat fee of $10 for withdrawals.

7. Errors and Delays

If you encounter errors or delays during the withdrawal process:

• Check if your bank account is set up correctly.
• Ensure that you have provided the correct withdrawal amount.
• Contact Polymarket support for assistance.

FAQs

Q: What banks are supported for withdrawals?

A: Polymarket supports withdrawals to most international banks with valid SWIFT/BIC codes.

Q: How long does it take for withdrawals to clear?

A: Withdrawals typically take 1-3 business days to clear, depending on your bank's processing time.

Q: Are there any limits on withdrawal amounts?

A: Yes, Polymarket has withdrawal limits in place for security purposes. Contact support for more information.

Q: Why was my withdrawal request rejected?

A: Withdrawals can be rejected if your account is not in good standing, you have insufficient funds, or there is an issue with your bank account. Contact support for details.

Q: How can I cancel a withdrawal?

A: Contact Polymarket support immediately if you need to cancel a withdrawal. Cancellations may not be possible once the request has been processed.