How do I cash out through bank transfer?

It's fast and simple to cash out through bank transfer!

On the Coins app

1. Open the Portfolio Tab: Launch the Coins app and tap on the Portfolio tab.

2. Select Cash Out: Click on Withdraw, then choose Cash Out.

3. Choose Your Bank: Scroll through the cash out options until you reach Banks. You can either select View all options or use the search bar to find your bank quickly.

4. Enter Amount and Provider: Input the amount you wish to cash out and select a service provider for your chosen bank. Be sure to check the fees associated with each option.

5. Provide Recipient Details: Enter the recipient's name and bank account number. Optionally, include a mobile number to receive an SMS notification once the cash out is processed.

On the Coins Website

1. Log In to Your Account: Access your account through a web browser and click on Portfolio.

2. Select Peso Wallet: Under Balances, find your Peso wallet and click on the Options icon, then select Cash Out from the pop-up menu.

3. Choose Cash Out Option: Select your preferred cash out method.

4. Input Amount and Provider: Enter the amount you wish to cash out and choose a service provider available for your selected bank, noting any applicable fees.

5. Complete Transaction: After entering recipient details, confirm your cash out request.

Processing Times

Processing times for cash outs may vary depending on the method chosen:

• InstaPay: Orders are processed instantly.
• PESONet: For each banking day
  • Batch 1: Cash outs created before 9:00 AM are credited by 2:00 PM.
  • Batch 2: Cash outs from 9:00 AM to 12:00 NN are credited by 6:00 PM.
  • Batch 3: Cash outs from 12:00 NN to 3:00 PM are credited by end of day.
  • Cash outs after 3 PM, on weekends, or holidays will be processed on the next banking day.

Important Tips for Successful Transfers

1. Verify Account Details

   • Double-check account numbers
   • Ensure recipient name matches bank records
   • Confirm bank selection is correct

2. Consider Fees

   • Compare fees between InstaPay and PESONet
   • Factor in processing times when choosing services

3. Track Your Transfer

   • Save transaction reference numbers
   • Monitor your bank account for the credit

Frequently Asked Questions

Can I cancel a bank transfer?

Once initiated, bank transfers cannot typically be canceled. Always verify details before confirming.

Can I cash out without verification?

No, you must have at least an Identity Verified account (ID and selfie verified) to perform cash outs.