You may make a request for complete or partial withdrawal of cryptocurrency from your BlockFi Wallet at any time subject to withdrawal processing times depending on the mode of withdrawal. 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.
Please note that if you are withdrawing funds to a bank account via wire, the timing can vary for when you see the funds in your bank account. If your withdrawal request is placed before 2 pm EST, BlockFi will process your wire withdrawal the same day. That being said, even if BlockFi processes wires (requested before 2pm EST) the same day, it does not mean that your wire will reach your bank account the same day. Please give your bank 1-2 business days to process the wire from their end. Some wire withdrawal requests may also trigger additional verification, which if not completed promptly, will cause your withdrawal to be delayed. International wires may be subject to additional processing at an intermediary bank, which can also cause additional delays.
Please make sure to check your email (including junk/Spam to see if your particular withdrawal request triggered the additional verification).
At this time we are only supporting wire withdrawals of $50,000 USD or more for US-based clients, or $500 USD for international clients. For US-based clients that wish to withdraw smaller amounts, ACH is highly recommended as both ACH and wire withdrawals require a linked bank account via Plaid. Additionally, wires can only be initiated in the form of stablecoin (USDC, GUSD, PAX, BUSD).
If you are not able to or do not want to withdraw via wire (or ACH if applicable), then we would recommend going with a cryptocurrency withdrawal to an alternate wallet address.
All funds deposited instantly via ACH are subject to a 5-business day hold. Additionally, as a security precaution, BlockFi may require any funds deposited via ACH to be held on the platform for up to 60 days.
All Wire withdrawals must be initiated through your BlockFi Wallet. Please see instructions below on how to proceed with a withdrawal.
For Web:
- Go to your “Wallet” tab
- Select the stablecoin in which you wish to withdraw
- For destination, select ‘Bank Account’
- Select “via wire” (whether you are US based or not)
- Choose linked bank account if you are a US based client
- If you are a non US based client, please input your specific bank account information.
- You can then enter the amount you’d like to withdraw and confirm the transaction, subject to our $500 bank transfer withdrawal minimum (if you are a non US based client) & $50,000 if you are a US based client.
For Mobile:
- Once logged into the app click into your “Wallet”
- From available balances select the stablecoin to withdrawal
- Select “Via US wire transfer” if you are a US based client. If you are an international client, please select “via international wire transfer”
- Choose the preferred bank account (if you are US based). If you are an international client, but have a US bank account, please reach out to our client service team and let us know, so we can enable domestic wires for you!
- International clients will have to enter their bank name, SWIFT code, and account number.
- You can then enter the amount you’d like to withdraw and confirm the transaction, subject to our $500 bank transfer withdrawal minimum (if you are a non US based client) & $50,000 if you are a US based client.
Important Note: The fees reflected as part of a wire withdrawal are fees charged by our bank partner. These fees include a $20 withdrawal fee for domestic wires and $30 withdrawal fee for international wires. BlockFi is not responsible for fees that many banks charge to receive wires.
*Please note that 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!