how to withdraw money from bybit to bank account

To withdraw funds from Bybit to a bank account, first verify your identity through KYC before selecting the Faster Payments option and entering beneficiary details.

Oct 30, 2024 at 10:39 am

How to Withdraw Money from Bybit to Bank Account

1. Verify Your Identity

Go to the Bybit website and log in to your account.
Click on "My Assets" and then "Withdraw."
You will be prompted to verify your identity through Know Your Customer (KYC) procedures.
This involves providing personal information, proof of identity, and proof of residence.

2. Select Withdrawal Option

Once your identity is verified, you can choose how you want to withdraw your funds.
Bybit supports bank transfers (Faster Payments) and crypto withdrawals.

3. Enter Withdrawal Information

For bank transfers, select "Faster Payments" and enter the following information:
- Bank account number
- Bank swift code
- Intermediary bank
- Beneficiary name
For crypto withdrawals, select the cryptocurrency you wish to withdraw and enter the wallet address.

4. Confirm Withdrawal

Enter the amount you wish to withdraw and click on "Confirm."
You will be sent a verification code to your email or phone number.
Enter the code and click on "Submit."

5. Processing Time

Bank transfers typically take 1-3 business days to process.
Crypto withdrawals are processed within minutes.

6. Fees

Bybit charges a withdrawal fee for both bank transfers and crypto withdrawals.
The fees vary depending on the withdrawal method and the amount being withdrawn.

Tips:

Ensure that you have sufficient funds in your Bybit account to cover the withdrawal amount plus any fees.
Provide accurate and up-to-date information during the withdrawal process.
Check with your bank for any additional fees or restrictions that may apply to international transfers.

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