Before a US Dollar withdrawal can be made on the MidChains platform, your corresponding external bank account must have been added. MidChains only permits you to withdraw US Dollars if your MidChains account is well funded to facilitate the intended withdrawal. Withdrawals can only be initiated into your corresponding external bank account.
To initiate a US Dollar withdrawal to your Personal Bank Account follow the steps below:
Navigate to the trading portal and select Portfolio on the left-hand side of the dashboard.
Click on Funds and proceed to click the Withdraw tab displayed for the US Dollar currency to initiate a withdrawal.
Enter the amount you wish to withdraw in USD.
Click on the Select Destination Account field to select your added bank account from the drop drown list and submit.
A Withdrawal code will be sent to your registered email.
Enter the code received in the Withdrawal Code field and submit. In case you did not receive a withdrawal code in your registered email or the received code is expired, click on the Resend Code for a new code to be sent to you.
Your withdrawal will be displayed as an entry in the Withdrawal Requests with a Pending Status.
Once MidChains approves your withdrawal request, the requested amount will be transferred from MidChains Client Money Account to your selected external Bank Account.
All fiat transactions (Withdrawals and Deposits) can be viewed in the History tab with your unique Reference Number.
Please Note: Withdrawals from MidChains’ third party Banking Partner(s) normally take between 3-5 business days. All withdrawal transactions initiated by you from your MidChains’ account into your destination account in any currency other than USD shall be converted to the requested currency at a prevailing spot rate provided by our Bank, subject to additional banking remittance fees of the originating and intermediary banks.