Withdrawing Australian dollars from Swyftx to your bank account is a straightforward process that you can complete in a few steps.
If it’s your first time withdrawing or you’re withdrawing to a new bank account, you'll need to first add a bank account to withdraw funds.
If you are trading via a personal account, you must withdraw to your personal bank account. If you are trading via an entity account such as a trust, company, or SMSF, you must withdraw to the bank account associated with that entity.
How to withdraw Australian dollars
If your holdings are currently in crypto or US dollars, you must sell them into Australian dollars before withdrawing to your bank. Find step-by-step instructions in our help article Selling crypto.
App
From the
Dashboard, select Withdraw, then select Australian dollars.Select your bank account. If it’s your first time withdrawing or you’re adding a new withdrawal account, you'll need to first add a bank account to withdraw funds.
Tap on Amount to withdraw to enter the amount you want to withdraw.
Choose a reason for withdrawal.
Select Withdraw.
Web
Expand the side menu and select Deposit & Withdraw.
Select Withdraw, then select Australian dollars from the list.
Select an account from the list. If it’s your first time withdrawing or you’re adding a new withdrawal account, you'll need to first add a bank account to withdraw funds.
If your account is not showing, refresh your screen or check that you have verified the bank account.
Enter an amount or use the slider to choose the amount you want to withdraw.
Choose a reason for withdrawal.
Select Continue to submit the withdrawal.
Withdrawal times
Within a minute if your bank uses Osko.
2 business days if your bank doesn't use Osko.
Limits
$4 AUD minimum withdrawal.
$50,000 AUD a day maximum withdrawal.
Limits include both cash and crypto transactions.
Fees for AUD withdrawals
$0
There are no fees for AUD withdrawals.
Your financial institution may charge a fee.
Verification
If your withdrawals are restricted, you may need to complete account verification.
If your account is not showing as a withdrawal address, refresh your screen or check that you have verified the bank account via SMS and email.
If you haven't received a verification SMS, check that we have the correct number in your Profile. If the number is correct, restart your mobile. If the SMS hasn't arrived after restarting, remove and re-add the withdrawal account.
If the Action Verification window doesn't display, check that you are not using any Adblockers on your device. Please add the withdrawal address on another browser or device if the issue continues.
Troubleshooting
Wise (formerly Transferwise) does not support transfers from cryptocurrency exchanges.
You cannot cancel an AUD withdrawal. If you enter the wrong bank details when creating a fiat withdrawal address, a withdrawal to those details will likely be rejected. We'll need to wait three business days for the withdrawal to bounce back before we can take any further action.
If you aren't receiving the confirmation email when adding a withdrawal address, the most successful troubleshooting step is to remove the withdrawal address from your account, then add it again to resend the confirmation email.
How to increase your withdrawal limit
Your default withdrawal limit is $50,000 AUD per day. If you need to withdraw more than this, we can raise your limit after you complete additional verification.
What is required
To increase your limit, please reach out to us via live chat and let us know:
Why you need to raise your withdrawal limit
How much you plan to withdraw
Whether your withdrawal will be in AUD, NZD, or crypto
We'll then guide you through completing a KYC 2 verification (Diamond).
As part of this, we may ask for documents that show the source of the funds you've deposited or plan to deposit, such as a pay slip, bank statement, or receipt from the sale of an asset.