How To Withdraw Funds From Your Gemini Account [Latest Steps]

Withdrawing funds from your Gemini account is a straightforward process, but it requires a few steps to ensure that your funds are securely transferred to your bank account. This guide will walk you through the entire process of how to withdraw funds from your Gemini account, including important details about fees, withdrawal limits, and common issues you may encounter.

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Prerequisites for Withdrawing Funds from Gemini

Before you can withdraw funds from your Gemini account, ensure you have:

1. Verified your account: Complete the verification process to upgrade your account to a verified status.
2. Sufficient funds: Ensure you have sufficient funds in your Gemini account to cover the withdrawal amount.
3. A whitelisted withdrawal address: Add and verify your withdrawal address to prevent unauthorized transactions.

Need instant help with the process? Contact Crypto Customer Service.

Steps to Withdraw Funds From Your Gemini Account

Link Your Bank Account

• Before you can withdraw funds, you need to have a bank account linked to your Gemini account. To do this, navigate to the profile icon in the app or website and select the option to add a payment method. You can link your bank account using the Plaid service for quick verification.

Initiate Withdrawal

• Once your bank account is linked, go to the Transfer section of your Gemini account. Select Withdraw from Gemini.

Select Currency

• Choose the currency you wish to withdraw. For fiat withdrawals, select USD.

Enter Withdrawal Amount

• Input the amount you wish to withdraw. Ensure that this amount does not exceed your available balance.

Select Destination

• Choose your linked bank account as the destination for the withdrawal.

Review and Confirm

• Review the details of your withdrawal request, including any fees that may apply, and swipe or click to confirm the transaction.

Wait for Processing

• Fiat withdrawals typically take about 3 business days to process but can vary depending on your bank and other factors. Cryptocurrency withdrawals may take 2-3 hours but can take longer in some cases due to network congestion.

Withdrawal Fees

Gemini has different fee structures depending on how you withdraw funds:

• ACH Transfers: Free
• Wire Transfers (USD): $25
• Non-USD Bank Transfers: Free
• Cryptocurrency Withdrawals: Fees vary based on network conditions (dynamic fees) and are displayed before confirmation.

Common Issues When Withdrawing Funds

• Verification Delays: Sometimes, additional verification is required when linking a bank account or initiating a withdrawal. This may involve confirming small test deposits made by Gemini into your bank account.
• Withdrawal Limits: Your withdrawal limits depend on your account type; retail users generally have a daily limit of $100,000.
• Transaction Errors: Ensure that all details are correct before confirming a withdrawal to avoid sending funds to an incorrect address or account.

By following these steps and keeping in mind the associated fees and potential issues, you can efficiently manage your withdrawals from your Gemini account with confidence.