SpankPay works with our partner Wyre to enable bank withdrawals. In order to withdraw, you will need to meet the minimum withdrawal requirements. For example, in the US you must withdraw at least $25 USD.


Upon withdrawal, you'll be charged a 0.5% processing fee plus a bank or swap fee and meet the minimum fee requirements. See tables and examples below for details.Example 1: USD to USD - US Domestic Bank (below minimum fee)

If you withdraw $25 USD and your holding currency is USD, the calculated bank fee is $0.05. You will be charged the $1 minimum plus a $0.13 processing fee, and receive $25 in your bank account. Your SpankPay account will be deducted $26.13.


Example 2: Crypto to USD - US Domestic Bank (below minimum fee)

If you withdraw $25 of USD and your holding currency is BTC, the calculated swap is $0.25. You will be charged a $1 minimum swap fee plus a $0.13 processing fee, and receive $25 in your bank account. Your SpankPay account will be deducted $26.13.


Example 3: USD to USD - US Domestic Bank (above minimum fee)

If you withdraw $1000 of USD and your holding currency is USD, the calculated bank is $2 and meets the minimum fee requirements. You will be charged a $2 fee plus a $5 processing fee, and receive $1000 in your bank. Your SpankPay account will be deducted $1007.


Example 4: Crypto to USD - US Domestic Bank (above minimum fee)

If you withdraw $1000 of USD and your holding currency is BTC, the calculated swap is $10 and meets the minimum fee requirements. You will be charged a $10 fee plus a $5 processing fee, and receive $1000 in your bank. Your SpankPay account will be deducted $1015.


*Note: USDC is treated as a crypto transaction.All international withdrawals are treated as swaps and charged the 1% swap fee.  Every jurisdiction has its own minimum fee requirements.


The current fees for withdrawing to an external crypto wallet are available here.


If you have any further questions, our support team is happy to help.  Feel free to email us anytime at support@spankchain.com