The Bybit cryptocurrency exchange supports various fiat and cryptocurrency withdrawal methods. It allows you to trade, transfer, and withdraw numerous crypto and fiat currencies to your local bank and beyond whenever you want to. If you wish to withdraw from Bybit directly to your local bank account, this guide will help you understand the process step-by-step.
Can I Withdraw From Bybit to Bank Account?
Yes, you can link your local bank to Bybit for direct transfers and withdrawals from and into your bank account. The only condition to withdraw from Bybit is that your local currency must be listed among the supported currencies on the Bybit exchange. Currently, Bybit supports about 16 fiat currencies, including GBP, USD, EUR, BRL, TRY, and others.
Each supported fiat currency has a preferred payment method, which may include bank transfers to your local bank. Read till the end for details on the list of currently supported fiat currencies as well as their respective payment methods. Connecting your local bank account to Bybit is possible when your fiat currency and withdrawal methods are supported on Bybit.
If you have previously deposited fiat currencies to your account, Bybit will automatically link the used payment account for withdrawals. If not, certain payment methods will mandate that you deposit to enable withdrawals to this account. However, some payment methods can be manually added to the Bybit account through the Payment Methods → Add Payment Method tab.
Step-by-step Guide to Withdraw From Bybit to Bank Account
Here’s a simple guide to successfully withdraw from Bybit directly into your local bank account via the Bybit app or website:
- Log in to your verified Bybit account using the app or website. Next, navigate to the Asset → Convert to exchange your cryptocurrencies for fiat.
- Navigate to Asset → Transfer to move the fiat money you want to withdraw to your Funding Account before attempting to withdraw.
- Access the Fiat Deposit page by tapping on Buy Crypto → Fiat Deposit at the top left corner of the navigation bar. Check the top right section of the withdrawal page and tap on the Fiat Withdrawal icon.
- Next, select the fiat currency, withdrawal amount, and your preferred payment method, then click on Continue.
- Double-check all details and enter the required 2FA codes sent to your email, sim, or Google Authenticator if applicable, then submit a withdrawal request.
You will find the Fiat withdrawal fees and processing time for each payment method on the Fiat Withdrawal page, so expect your money to arrive within the stipulated time frame. Alternatively, if your local currency isn’t integrated as an option for fiat withdrawals, you can use Bybit P2P to convert your crypto to cash through a third-party seller.
Navigate to the P2P section to set your preferred withdrawal amount, currency, and payment method. Then, contact a seller with a high trade completion ratio and reasonable selling rate to trade your crypto/fiat currencies for real cash in your local bank accounts.
Fees & Available Payment Method For Bybit Fiat Withdrawal
The table below gives a view of fiat currencies supported if you want to withdraw from Bybit to banks, alongside the available payment methods and their fees:
| Fiat Currency | Available Payment Method | Fees (%) |
|---|---|---|
|
ARS |
Bank Transfer | 0.07 |
| TRY | Bank Transfer | 0 |
| MXN | Bank Transfer | 0 |
| IDR | Local Bank Transfer | 0 – 0.055 |
| VND | Bank Transfer | 0.075 |
| BRL | PIX | 0 |
| GBP | Zen.com
FPS (Faster Payments Service) |
0 |
| EUR | SEPA
Zen.com iDEAL |
0 |
| USD | SWIFT | 0 |
| PLN | Zen.com |
0 |
Bottom Line
Withdrawing from Bybit to your bank account is straightforward but backed by several conditions. First, you must confirm that your bank processes fiat currencies that Bybit supports. Overall, ensure the name on the bank matches the name on your KYC document to get a successful withdrawal.
FAQs
Why Is My Withdrawal Request Pending or Delayed?
Pending withdrawal requests could be due to incomplete KYC verification, network issues, or processing delays from your bank. However, your money will be sent to your local bank account within the timeframe specified for your payment method. Make complaints only after the time has elapsed, and your money hasn’t been reflected.
Are There Fees When I Withdraw From Bybit?
Yes, Bybit charges small withdrawal fees to local banks or other recipient accounts. The processing and withdrawal fees depend on your selected currency and payment methods on Bybit.
What Should I Do if My Withdrawal Was Declined?
Double-check your withdrawal details and ensure sufficient funds are in your account to cover fees. If everything seems intact, contact Bybit Support for assistance.
