Withdrawal Errors & Best Practices

1. Incomplete or Incorrect Bank Details

Withdrawals may fail if the bank account information is incomplete or inaccurate. This may occur when a bank account is automatically created from an incoming deposit, as certain details are not always included in SWIFT payment messages.

Missing information may include:

• Routing codes
• Intermediary SWIFT codes
• Payment reason or additional information required by the receiving bank
  
  

If these details are missing, the withdrawal may be rejected by the receiving bank. Any applicable bank or intermediary fees are determined by the receiving or intermediary banks.

Best Practice:

Before submitting a withdrawal request, platforms should allow users to review and confirm their bank account details to reduce the likelihood of processing issues or rejected payouts.