How to make a FIAT withdrawal?
  • 03 Jul 2023
  • Dark

How to make a FIAT withdrawal?

  • Dark

Article Summary

To make the withdrawal to a bank account in the FIAT mode in Zenki pay, you need to access the Zenkipay panel > FIAT withdrawals.

Click the New Withdrawal button.

You will be able to visualize the following:

  • Withdraw to account: You will be able to transfer your money or accumulated earnings from your Zenkipay account, to the registered bank account. This allows you to access the funds earned.

And an account summary which includes:

  • Amount to withdraw from your orders with released funds: It refers to the amount of money that is planned to be withdrawn from previous orders or transactions that have been completed and that have generated profits or income that are now available for withdrawal.
  • Withdrawal Fee: Refers to any costs or fees associated with withdrawing funds. This may include a commission or fee that the platform or service may apply when making the withdrawal of profits.
  • Bank Transfer Fee: Indicates if there are any additional costs or charges for making the bank transfer of funds withdrawn from the platform to a designated bank account.
  •  Total balance to be withdrawn: It is the total amount that is expected to be withdrawn after deducting any fees or charges associated with the withdrawal. It represents the net amount you will receive in your bank account after making the withdrawal of the winnings.

You can edit the amount to withdraw from your orders that have released funds, click on Edit.

You will be shown a list with information of the orders that are with released funds, you can edit or select the orders you want to settle. Click Apply.

Click Confirm.

You will be asked to enter a code sent to your phone and another code that we will send to your email for security reasons.

A message will be displayed indicating that we will notify you by email when the transaction is completed.

Done, now you just have to wait for us to confirm the withdrawal transaction.

Is there any commission cost when I want to make a withdrawal?

Yes, currently Zenkipay charges 1.5% of the amount you want to make the withdrawal for the use of the platform adding a cost of 5 dollars for the bank transfer (subject to the exchange rate of the currency of your country).
However, the promise of not charging commissions when making transactions is maintained.

When can I request a withdrawal?

You can request the withdrawal of money once a day, before 2 p.m. (UTC -6). Zenkipay will process every business day withdrawals scheduled before this time.

How long does it take to see the bank transfer reflected?

The amount to be withdrawn will be reflected the next business day in the bank account of your business.

Is there a minimum amount to withdraw?

The minimum withdrawal amount is set at $10 due to commission issues. Financial transactions carry associated costs, such as fees for processing and transferring funds.

What happens to commissions if I withdraw less than $10?

If the withdrawal amount is less than the stated minimum of $10, your trade may incur losses due to the associated transaction costs. To avoid this, a minimum withdrawal amount is set that helps offset commissions and ensure that withdrawing money from your winnings is profitable.

Was this article helpful?