How to withdraw Canadian dollars

Withdrawing with Interac e-Transfer

Each client is permitted 1 e-Transfer withdrawal per 24-hour period and a maximum of $2,000 CAD per withdrawal request. For larger withdrawals, please use direct bank deposit instead.

Here's how:

Tap 'More' at the bottom of the screen if you are on the mobile app or click the 'Withdraw' tab at the top of your screen if you are on the website.
Tap 'Withdraw' (note: you'll need to have Canadian Dollars to withdraw).
Enter the amount you want to withdraw and tap 'Continue'.
Enter the 2FA code from your authenticator app. If 2FA is not enabled, you will receive an SMS with the code to your phone number on file.
Tap ‘Finalize Withdrawal’.
We will send you a confirmation email once you have finalized your withdrawal.
Lastly, Interac will send you an email*. Depending on whether you have autodeposit enabled, the email you receive will differ.

*Please note that processing times may be longer than normal outside of business hours.

If Autodeposit Is Enabled

If autodeposit is enabled, your funds will be transferred to the bank account linked to your email address. You will receive an email from Interac similar to the sample below, with the following subject line:

“INTERAC e-Transfer: A money transfer from Payper Inc. has been automatically deposited”.

Payper is Bitbuy's partner for payment processing, which is why their name appears on the Interac confirmation email.

If Autodeposit Is Not Enabled

If you do not have auto-deposit enabled, you will receive 2 different emails.

First, you will receive an email from Interac prompting you to deposit your money. The subject line and sample are below.

“INTERAC e-Transfer: Payper Inc. sent you money”

Payper is Bitbuy's partner for payment processing, which is why their name appears on the Interac confirmation email.

In a separate email, you will receive your secret answer in order to complete the process. This email will come from etransfer@em6406.payper.ca and have the following subject line:

“You've received an e-Transfer from Bitbuy”

Please note that your secret answer will be your ‘Account ID’ located inside your Bitbuy app. It will also be surfaced in this email.

Withdrawing with direct bank transfer (EFT)

Bitbuy now offers the direct bank deposit method using Electronic Fund Transfer (EFT).

Here are a few things to note about Bank Transfer withdrawals:

The minimum amount for a direct bank transfer withdrawal is $20 CAD.
The maximum amount for a direct bank transfer withdrawal is $100,000 CAD.
The fee for a direct bank transfer withdrawal is 1.5%
The processing time for a direct bank transfer withdrawal is 0 - 3 business days.

*Please note that processing times may be longer than normal outside of business hours.

Follow these steps to safely send your CAD withdrawals directly into your bank account:

Step 1

On the Bitbuy app, navigate to the More section using the bottom menu, and find the Withdraw button.

On Bitbuy web, select the Withdraw tab from the menu at the top of your screen.

Step 2

On the Withdrawals page, select Canadian Dollars from the list of available currencies.

Step 3

Enter an amount to withdraw and click Continue. You also have the option to withdraw the maximum amount in your available CAD balance with a single tap.
Next, choose your linked bank account. If you don't see your preferred bank on the list or you haven't connected a bank account to your profile, follow this guide to set one up.

Step 4

Finally, enter the 2FA code from your authenticator app in the box when prompted. If 2FA is not enabled, you will receive an SMS with the code to your phone number on file.
Once complete, you'll be shown a confirmation screen. Please allow up to 3 business days for your withdrawal to be processed once you see the confirmation screen, as bank processing times may vary.

Withdrawing with bank wire transfer

You can now withdraw Canadian Dollars from your account using wire transfer! The minimum withdrawal amount using a wire transfer is $10,000 CAD.

Here are the instructions to make a bank wire withdrawal from your Bitbuy account:

How to Initiate the Withdrawal (Mobile)

Sign into your account. Select the More tab then click Withdraw.
Select the balance for Canadian Dollars then choose the Wire Transfer withdrawal method on the next page to continue.

How to Initiate the Withdrawal (Web)

Sign into your account. Navigate to the Withdraw page and select “Withdraw” next to your Canadian dollar balance.
Select the Wire Transfer withdrawal method on the next page to continue.

Step 1 — Input the Amount

First, you will be asked how much you would like to withdraw from your available balance. Remember that wire withdrawals require a minimum of $10,000 in order to continue. You will also be informed of the expected fee on this page. For more on fees, refer to this article!

Choose your amount to proceed to the next step.

Step 2 --- Choose Your Bank Account

Next, you will select the bank account that will serve as the destination for your withdrawal. From this page you can choose an account that has already been linked or you may add another using Add Bank Account.

For instructions on how to add a bank account for direct fund transfers, please check out this helpful article!

Step 3 --- Adding your Branch Address

Please keep in mind that part of adding a new account is adding a Bank Address. This is the address of the home branch associated with your bank account. You should be able to locate this information on your bank statement, wire transfer receipt, or similar documents. This address must match your bank records for the process to be successful.

Select Update bank address to fill out and save these details. Click Continue to proceed.

Step 4 — Final Confirmation

Once you arrive at the last step, please enter the 2FA code from your authenticator app when prompted. If 2FA is not enabled, you will receive an SMS with the code to your phone number on file.

Ensure that you review the details of the transfer before finalizing your request. By continuing, you agree that the details are correct and valid.

Funding Timeline

After completing the process, your request will then undergo review before being approved. Wire transfers can take 1 - 2 days to process so be sure to check the Activity section to stay up-to-date on the status of your request!

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