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Common Questions About Fiat Withdrawals

Fiat withdrawals are straightforward, but there are a few common situations that can cause confusion. This article explains how fiat withdrawals work and addresses the most frequently asked questions, including processing times and the difference between crypto and fiat balances.

 

 

Why hasn’t my withdrawal reached my bank account yet?

After you confirm a fiat withdrawal, its status will change to Awaiting processing. Fiat withdrawals are typically processed within 2 business days.

During this period, your funds are reviewed and prepared for transfer. This is a standard process and does not indicate a problem with your withdrawal. Once processing is complete, the status will update to Succeeded, and you will receive an email notification. 

You can monitor the status of your withdrawal at any time by navigating to the History tab and locating the request in your transaction history.

 

 

I sold my crypto, but why isn’t the money in my bank account?

Selling crypto does not automatically send funds to your bank account. When you sell crypto:

  • The proceeds are credited to your fiat wallet within Wealth99.
  • The funds will remain in your fiat wallet until you manually request a fiat withdrawal.

To receive the money in your bank account after a sale, you must submit a withdrawal request from your fiat wallet. For step‑by‑step instructions on requesting an AUD, GBP, or EUR withdrawal, follow these instructions.

 

 

Why can’t I withdraw funds to my bank account?

There are two common reasons why a fiat withdrawal may not be available: no fiat balance or missing security requirements.

1. You don’t have a fiat balance

Your bank account can only receive fiat currency, not cryptocurrency. If all your funds are held in crypto, you won’t see a fiat balance and won’t be able to request a bank withdrawal until the crypto is sold for fiat. In this case:

  • You must first sell your crypto for fiat.

  • Once the sale is completed and the fiat balance appears in your fiat wallet, you can request a fiat withdrawal.

  • Direct crypto-to-bank withdrawals are not supported.

2. Two-Factor Authentication (2FA) is not enabled

To request a fiat withdrawal, you must have at least one form of 2FA enabled, either:

For enhanced security, we strongly recommend keeping Google Authenticator enabled at all times as an additional layer of protection for your account.

 

 

Why does it say I’ve reached my daily withdrawal limit?

Fiat withdrawals are subject to daily and weekly limits. If you see this message, it means your withdrawal request would exceed one of these limits.

  • Daily withdrawal limit: 20,000 AUD / GBP / EUR

  • Weekly withdrawal limit: 100,000 AUD / GBP / EUR

The daily limit resets at 00:00 GMT, and the weekly limit resets every Monday. Once the applicable limit resets, you’ll be able to submit a new withdrawal request.

  

 

What happens if there’s an issue with my withdrawal?

If an error or missing information is detected during processing, our team will contact you directly with instructions on how to proceed. No action is required unless you are contacted.

 

 

Key things to remember

  • Fiat withdrawals can take up to 2 business days to process

  • Selling crypto does not automatically send money to your bank

  • Funds must be withdrawn from your fiat wallet manually

  • Crypto must be sold for fiat before it can be withdrawn to a bank account

If you’re ever unsure about your balance or withdrawal status, checking your wallet and transaction history is the best place to start. You can always contact us if any help is needed.