It is quite important to have exhaustive information about the conditions of withdrawing funds. You have deposited some money, then traded a bit, gained a profit and now you want to use the money you have earned. Withdrawals are the topic of today’s article. We will go through all the questions you may have on the way.
How to request a withdrawal on Binomo
You have to be logged into your Binomo account. Click on your profile icon in the top-right corner of the platform. Then choose “Cashier”.
You will be redirected to the page on which making a withdrawal request is possible. Select “Withdraw Funds” tab. Then you will have to define the amount of money you want to transfer and the withdrawal method. You may also add a comment (4), for example, a reason for this particular withdrawal. The last step is to click the yellow “Request withdrawal” button.
There is a minimum withdrawal amount and it is $10/€10 or their equivalent in the currency of your country. However, in some countries, it is possible to order a payout for an even smaller amount. To confirm the minimum withdrawal amount in your area, contact the Binomo support team.
You are advised to use the same method you have used to place the deposit initially. This will make the whole process smoother. It can be either a bank card or an electronic wallet.
If it is not possible for you to use the same method, you have several other choices. A new card or wallet you present must be in your name however.
How long does it take?
Withdrawal requests are usually processed very fast. The average period of a withdrawal consideration is 24 hours. Maximum time you should get your money on a card or a wallet is 3 working days. The waiting period depends, among others, on the payment method you utilize. It is often faster when you withdraw money to wallet. To ensure you will have money on time you need to provide all the necessary details.
Sometimes, for security reasons, you may be asked to send some additional documentation. It must be clear that you are the owner of the card or the wallet. You may have to provide a scan of the page with your photo from your passport or a scan of your bank card or a screenshot of your electronic wallet. Whatever document it is, make sure it belongs to you and that all the data is visible.
The withdrawal status
Once you have requested a withdrawal you will see the confirmation on the screen. You can always check the withdrawal status when you log into your Binomo account, then choose “Cashier” and then “Withdraw Funds” tab.
When money is transferred to your card or wallet, you will be able to view the transaction details in the “Transaction History” tab.
It can occasionally happen that your request is rejected. The reason may be that the documents you provided are not valid, you failed to send extra data or the card is not the same one you have used to make a deposit. Whatever is the reason, your request will not be visible in the “Withdraw Funds” tab anymore. You will receive an email from Binomo with the description of the case. After the problem is solved, you will be able to apply for the payout again.
The fee for your transaction will be only taken if you have not performed any transactions on your Binomo account. Furthermore, the total amount of withdrawal should be at least double the deposit sum in order to be exempt from the withdrawal fee. The fee rate is 10%. You will get the notification stating that a fee has to be added and if you still wish to make a withdrawal you can re-request it. This 10% commission is charged very rarely though.
I believe this article has answered any possible question you could have about the withdrawals. I am sure you will not have any problems with the transaction and you will get the money you have earned on Binomo in the most convenient way.
Wish you a pleasant experience!