FAQ for Fiat Withdrawal via Wire Transfer

1.What is a wire transfer withdrawal?

A wire transfer withdrawal is a seamless means of transferring funds electronically, from your AscendEX account to your bank account (domestic or international). 

2. How do I initiate a withdrawal via wire transfer? 

Withdrawals via wire transfer must be initiated from your AscendEX account using specific withdrawal details. Here are the steps to begin the withdrawal process

To initiate the withdrawal process via wire transfer, please complete the following steps: 
- Sign in to your AscendEX account.
- Open “My Wallet” from the menu and select “Cash Account.” 
- From the “Cash Account” page, select “Withdraw.” 
- When asked "Which type of asset would you like to withdraw?" select "Continue" from the Cash section.
- You will then be prompted to fill in withdrawal details, bank information and account holder details.
- Finally, you will be guided to a review screen where you can confirm your withdrawal request. 

Please make sure that the name associated with your bank account exactly matches the name on your AscendEX account and that all other details are accurate. 

3. How can I confirm that my withdrawal request was successful? 

You will receive a confirmation email once your wire transfer is initiated. Your bank will be able to confirm once the funds are available in your account. If your withdrawal request was rejected, we will also notify you by email.                                                                                                                                        

4. What is the timeline for withdrawal through wire transfers? When will the funds appear in my bank account?

Wire transfers are usually processed within 3-5 business days of your withdrawal request. Once the wire transfer is complete, your withdrawn funds will be reflected in your bank account. 

However, AscendEX is not responsible for any delays in your wire transfer attributable to your bank or other third parties. If your requested funds are not available in your bank account after 5 business days, please contact your bank for further assistance.

5. In what currency will I receive my withdrawal?

You will receive your funds in your bank’s local currency. For currencies other than USD, your funds will be converted automatically from USD to your local currency at its listed exchange rate. 

6. Are there any associated fees for withdrawals through wire transfer?

AscendEX charges a wire transfer fee which is deducted from the withdrawal total as follows:  

  • $35.00 domestic (US domiciled bank) withdrawal fee
  • $75.00 international withdrawal fee

Additionally, users/institutions may also be charged a fee by their receiving bank. Please check with your bank to learn more about associated fees.

7. Is there a minimum for withdrawals through wire transfer?

The minimum amount you can withdraw from your AscendEX account is 100 USD. Please note that the amount you receive will be the amount you withdraw, minus the domestic/international wire transfer fee and any fees deducted by your bank.

8. Why was my withdrawal rejected ?

Wire transfers can be rejected if any of the details used when withdrawing are incorrect.AscendEX is not responsible for delays in wire transfers attributable to your bank or any third parties your bank may use.

If you wish to know more about why your withdrawal was rejected, please contact support at: https://asdx.zendesk.com/hc/en-us/requests/new

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