Withdrawing CAD on Mobile

You can certainly use CoinSmart's app to make a withdrawal to your bank account. This guide will show you how to withdraw CAD from your CoinSmart account.

Step-by-Step guide on how to submit a CAD withdrawal request on Mobile

Once you've sold crypto for CAD, or funded your account with CAD, you will have a CAD balance.  You can withdraw this balance to your bank account at any time.

For example, if you have a BTC balance in your CoinSmart wallet and you sell it for CAD, you can now withdraw this amount to your bank account.*

For Canadian Dollar withdrawals, we have 3 options:

• Interac E-Transfer ($50 - 9$,999)
• Wire Transfer ($15,000 - $5,000,000)
• Electronic Funds Transfer (EFT) ($50 - $15,000)

You can certainly withdraw CAD through the Wire transfer method from your CoinSmart account within a few clicks. To successfully complete the withdrawal, you can follow the steps below:

1. Sign in to the app and tap on the CoinSmart logo at the bottom of the screen

2. Tap on Transfer.

3. Tap on Withdraw Fiat.

4. Once here, you can select one of the three options, INTERAC, WIRE, or EFT.

For transfers below $10,000, you can select INTERAC, for transfers below $15,000 CAD, you can select EFT. For over $15,000 you must select WIRE.

Withdrawing via the Interac method

INTERAC - Here, you'll have to enter the amount you wish to withdraw and then tap "Confirm Withdrawal Amount". 

Interac withdrawals will arrive in your bank account within an hour.

Withdrawing via the EFT method

EFT - Fill in the mandatory details and click "Confirm Withdrawal Amount".
Please ensure all the information is correct, especially:

1. 1. Account Number (usually 7 digits)
   2. Transit Number (usually 5 digits)
   3. Institution Number (usually 3 digits)

Then tap "Confirm Withdrawal Amount".

Withdrawing via the Wire transfer method

Wire - Fill the mandatory details, attach your Void Cheque or Direct Deposit Form and confirm.

Then tap "Confirm Withdrawal Amount".

6. Once you've entered all the information and ensured that it's correct, Enter your 2FA code from the Google Authenticator App.

7. Check your email inbox for a new email from CoinSmart (the subject is Your Withdraw is Pending) open this email and click the confirmation link in the body of the email to complete the withdrawal.

9. Once you've clicked the e-mail link and "Accepted" your withdrawal, the transfer will be confirmed on the blockchain and automatically transferred to your external wallet.

IMPORTANT: If you receive this email from us and you did not personally request this withdrawal, reject the withdrawal and please contact support.

Once the banks have approved the information and confirmed the transfer, the funds will be deposited into your bank account. You can find more guides to help you with other transactions on our main FAQ page.

*CoinSmart's minimum withdrawal amount is $50. 

**Canadian Dollar Withdrawals are sent via Electronic Funds Transfer (EFT). We conduct them in batches once every business day. They are usually reflected in user's bank accounts within 1-2 business days but take anywhere from 1 - 5 business days depending on sending and receiving bank transfer times.

If you ever have any questions or need any help you can reach out to us directly via:

• E-mail: support@coinsmart.com 

And we’d be happy to help you make your crypto experience a great one!