Crypto withdrawals are subject to a security hold and processed the next business day after that hold clears. If the request is placed before 8PM EST (00:00 UTC), it will be processed the next business day. If the request is placed after 8PM EST (00:00 UTC), it will be processed in two business days. Withdrawals are processed between 12PM-8PM EST and are only processed 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 without any fraudulent or suspicious activity.
For clients who have been in the crypto space for a while, these measures may appear to be excessive. However, these layers of security have allowed us to prevent many accounts from being compromised and countless fraudulent withdrawal attempts. The security of your funds has and always will be our top priority.
Please note that if you are withdrawing funds to a bank account, the timing can vary for when you see the funds in your account based on the withdrawal method. You can expect to see your funds in: 1 business day for wire withdrawals and 2-3 business days for bank transfers (ACH).
In Progress means BlockFi is working behind the scenes to complete your request. Once successful, your bank may take additional time to process your request.
Please note: Funds transferred via Bank Transfer (ACH) cannot be withdrawn for the first 5 days from when the funds arrive in the account.