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How to Transfer Money from Gemini to Bank Account

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  • Transferring money from Gemini to a bank account involves several steps, ensuring that your funds are securely moved from your Gemini account to your external bank account. Here is a comprehensive guide to help you navigate the process:

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    Linking Your Bank Account

    • Access Gemini Account: Log in to your Gemini account.
      Profile Icon: Tap on the profile icon located at the top right corner of the Gemini app.

    • Withdraw Funds: Select "Withdraw from Gemini" from the dropdown menu.

    • Select USD: Choose "USD" as the currency you want to withdraw.

    • Enter Amount: Enter the amount you wish to withdraw.

    • Select Destination: Tap "Select Destination" and choose your linked bank account.

    • Verify Bank Account: You will be prompted to add a payment method and select "Automatically link bank account." Add your bank details and verify your account by calling or texting the verification code.

    Withdrawal Process

    • Review Transfer Details: After verifying your account, review the transfer details, including the amount and the account to which the funds will be deposited.

    • Confirm Transaction: Swipe to confirm the transaction.

    • Transfer Time: The transfer time for the transaction will be shown. This can take approximately 3 business days, but may vary depending on the custodian, Gemini.

    Additional Tips

    • Verification: Gemini may deposit one or two small amounts (usually cents) in your account for verification purposes. You will need to confirm these amounts to complete the verification process.

    • Withdrawal Limits: The withdrawal limit is dependent on your account type. For retail users, the standard daily withdrawal limit is $100,000.

    • Fees: Gemini charges a fee for withdrawals, which can be dynamic or flat depending on the cryptocurrency and the withdrawal method.
      Troubleshooting Common Issues

    • Failed Withdrawals: If your withdrawal fails, it may be due to security blocks or wire deposit precautions. Contact Gemini support for assistance.

    • Verification Issues: Ensure that all necessary verification steps are completed, including verifying your bank account and providing any additional information requested by Gemini.

    Conclusion
    Transferring money from Gemini to a bank account is a straightforward process once your bank account is linked and verified. By following these steps and being aware of potential issues, you can ensure a smooth and secure transfer of your funds.

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