Overview

Our wallet withdrawal platform provides users with the ability to convert their digital funds into cash and withdraw funds directly to their bank accounts. This policy outlines the procedures, fees, and limits associated with cash withdrawals.

1. Eligibility

Users must meet the following criteria to be eligible for direct cash withdrawals:

• Account Verification: Users must complete the account verification process, including identity verification and compliance with anti-money laundering (AML) regulations.

2. Supported Currencies and Payment Methods

We currently support the following currencies and payment methods for cash withdrawals:

• Currency: USD (US Dollars)
• Payment Methods: Bank Transfer only.

3. Fees and Processing Times

Deposit Fees

• Wallet deposit fees: 3% of depositing amount.

Withdrawal Fees:

• Outside the United Kingdom: Bank transfers incur a fixed fee of USD 12.50 per withdrawal, regardless of the withdrawal amount.

• United Kingdom Users: Enjoy free withdrawal fees.

Processing Times

• Bank Transfer: 7 days to 14 days

Please note that additional fees for bank transfers may be charged by the user’s bank. Any withdrawal fees won’t be refunded, and if a withdrawal is returned to us, there may be additional fees charged by the user’s bank.

4. Deposit and Withdrawal Limits

Limits are in place to protect user accounts and comply with regulatory requirements. The following limits apply per month:

• • Minimum Deposit: USD 40.00/transaction. 
  • Maximum Deposit: USD 1000.00/transaction.
  • Minimum Withdrawal: USD 250.00/week.
  • Maximum  Withdrawal: USD 25,000.00/week.

Please note that these limits apply to all users and are cumulative across all payment methods.

5. Reviewing Limits

Users can view their current deposit and withdrawal limits when initiating a transaction on our app or website.

6. Identity Verification policy.

a. Purpose

The purpose of this policy is to ensure the security and integrity of our members’ funds by verifying the identity of the account holder during cash withdrawals.

b. Policy Statement

It is our policy that the full name and last name of the member initiating a cash withdrawal must match the name of the account holder as registered in our banking records.

c. Procedures

c.1 Verification of Identity

Before processing a cash withdrawal request, our staff will verify the member’s identity. This includes checking the full name and last name against the name on the bank account from which the withdrawal is being made.

c.2 Discrepancies in Names

If there is a discrepancy between the member’s name and the name on the bank account, the cash withdrawal request will not be processed until the discrepancy is resolved.

c.3 Updating Member Information

If a member’s name has legally changed and no longer matches the name on the bank account, the member must provide legal documentation of the name change. Our records will be updated accordingly, and the cash withdrawal can then be processed.

6.Withdrawal Restrictions for Members in Sanctioned Countries

In compliance with the Sanctions and Anti-Money Laundering Act 2018 of the United Kingdom, and any other applicable laws and regulations, members who are residents of countries that are subject to financial sanctions by the United Kingdom are not permitted to withdraw funds from their wallets.

Our company, being based in the United Kingdom, is obligated to adhere to these sanctions. As such, any attempt to withdraw funds by members from these sanctioned countries will be automatically declined by our system.

Members are advised to stay informed about the current list of sanctioned countries as published by the Foreign, Commonwealth & Development Office of the United Kingdom. This list is subject to change and it is the responsibility of the member to ensure compliance.

7. Compliance

Failure to comply with this policy may result in disciplinary action, up to and including termination of membership and legal action.