You withdraw by sending money from your TransferCove balance to a payout account in your own name. Withdrawals go out instantly once you confirm.
Save a payout account
You only do this once per account.
- Go to Payment methods.
- Add a payout account and pick the method, such as bank transfer.
- Fill in the details the method asks for. Each method asks only for what it needs, such as an account number or wallet address.
- Give it a nickname if you like, such as “Checking”.
You can edit or remove saved payout accounts at any time from the same page.
Withdraw
- Tap Withdraw.
- Choose the payout account.
- Enter the amount. Before you confirm, you’ll see the fee, the method’s minimum and maximum, your daily limit and exactly what you’ll receive.
- Confirm with your 6-digit PIN.
The full amount leaves your available balance the moment you confirm. We set it aside for the withdrawal, so your balance always shows what you can actually spend.
Fees
Any withdrawal fee comes out of the amount you withdraw. If you withdraw $100 and the method has a fee, you receive $100 minus that fee. The app shows the exact figure before you confirm. Your bank or provider may also charge to receive money.
What happens next
Your withdrawal starts as pending. Our team then moves it to processing, pays it, and marks it paid with a payout reference. If we can’t pay it, we reject it and the full amount goes back to your balance. Withdrawal statuses explains each step.
While it’s still pending, you can cancel it.
If you can’t withdraw
- The amount may be over your daily limit or your tier’s limits. See Account tiers and limits.
- Your PIN may be locked after 5 wrong tries. Wait 15 minutes or reset it.
- Withdrawals are paused while an account is restricted. See If your account is restricted.