BlockFi may initiate the withdrawal process immediately when possible but may require up to seven (7) days after you submit the withdrawal request to process the withdrawal subject to withdrawal limits and fees described here.
All crypto withdrawals are subject to a security hold and will begin processing the next business day after that hold clears. If the request is placed before 8PM EST (00:00 UTC), it will begin processing the next business day. If the request is placed after 8PM EST (00:00 UTC), it will begin processing in two business days. Withdrawals are processed between 12PM-8PM EST only on business days. Some withdrawals may also trigger additional verification, and if not completed promptly, will cause your withdrawal to be delayed.
This security hold is in place to protect clients against fraudulent requests and also allows clients to cancel their request if the destination wallet is entered incorrectly. Additionally, it gives BlockFi time to review and ensure the assets are being returned to the correct individual and there is no fraudulent or suspicious activity.
If you are withdrawing funds to a bank account, based on the withdrawal method, the timing of when you see the funds reflected in your account may vary. After BlockFi has completed processing the withdrawal request, you can expect to see your funds credited by your financial institutions in approximately 1 business day for wire withdrawals and up to 3 business days for bank transfers (ACH).
If your withdrawal status is "In Progress", this means that BlockFi is working behind the scenes to complete your request. Once completed on our end, your bank may take additional time to process your request.
Please note the following:
- Funds transferred via Bank Transfer (ACH) cannot be withdrawn for the first 5 days due to ACH network settlement times.
- Debit card withdrawals are not available at this time
- If you have an active loan and your loan LTV is above 70%, any assets in your BlockFi Account cannot be withdrawn.
If you are still having trouble or have any other questions, please contact our Client Service team here!