Unfortunately, Xfers is unable to process SGD deposits and withdrawals to corporate users' bank account at the moment.
StraitsX Business Account
Hence, corporate users on Coinut are recommended to open a StraitsX Business Account with Xfers to deposit and withdraw XSGD instead of SGD. The deposit of XSGD is free of charge while we only charge a blockchain fee for XSGD withdrawals.
For more information, you may refer to https://xfershelp.zendesk.com/hc/en-us/categories/360006445912-StraitsX-Account
Deposit XSGD to Coinut
Once your StraitsX Business Account has been set up and verified, you may follow the below steps to deposit XSGD to Coinut:-
Step 1: You would need to top up your StraitsX account with SGD to XSGD.
Step 2: Add your Coinut account's XSGD deposit address on the deposit page of your StraitsX account, the deposit address can be retrieved on your Coinut's account XSGD funding page.
Step 3: Deposit XSGD from StraitsX to Coinut
Step 4: After the deposit has been confirmed on the blockchain, you are able to trade XSGD pairs on our platform.
Please take note that we support XSGD ERC20 only at this moment. For more information, you may refer to https://coinut.zendesk.com/hc/en-us/articles/900005219603-Trade-with-XSGD
Withdraw SGD to your company bank account
1. Trade your balance (SGD/BTC/USDT/etc) to XSGD on our platform.
2. Withdraw XSGD to your StraitsX Business Account (only blockchain fee applies)
3. Withdraw SGD to your company bank account on Xfers' StraitsX. For this step, you do not need to convert your XSGD to SGD, you are able to withdraw SGD directly with your XSGD balance via StraitsX, and it is free of charge too.
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