Coinut Offramp General Questions

1. How does Coinut Offramp work?

Coinut Offramp allows you to offramp crypto assets as fiat currencies to your bank account or payment account by submitting a withdrawal request via the “Wallet” section on the Coinut web platform. Once processed, the resulting fiat currencies will be transferred to your bank/payment account via bank transfers. 

2. What crypto assets and fiat currencies do you support now?

We now support offramping from USDT to USD and from XSGD to SGD. 

3. How does the offramping process for USDT to USD work?

Simply initiate a withdrawal by selecting USDT and choose the Bank option. After submitting the request and receiving approval, the equivalent USD will be credited to your bank/payment account.

4. Can I offramp USDT to any bank/payment account?

For now, USDT offramping can only be made to a bank account or payment account you own, and third-party bank or payment accounts will not be accepted. Before initiating an Offramp request, you must verify your bank/payment account for security purposes.

4.1 How to verify your bank/payment account:

• Submit a recent bank/payment account statement clearly showing your name and account details. The statement must be dated within the last 3 months.

5. What happens if I enter the wrong bank/payment details for my Offramp request?

Ensure your bank/payment details are accurate when submitting the withdrawal request to avoid delays or issues. If incorrect details are provided, the transaction may fail, and any fees or penalties imposed by the bank or payment companies will be deducted from your account.

6. How long does it take to receive the USD after submitting a USDT Offramp request?

The processing time typically takes up to 3 business days after the USDT Offramp request is submitted and approved.

7. Are there any fees for offramping USDT to USD?

There is normally a $50 bank charge for each Offramp to USD. 

8. What is the conversion rate of USDT to USD?

The conversion rate depends on the interface at the time of submitting the Offramp request.

Please contact [e-mail] if you have further questions.