Due to a change in banking policy, we have integrated Xfers for depositing and withdrawing SGD. You are able to deposit and withdraw without leaving Coinut website, all you need to do is just verifying your mobile number on the SGD fund page.
Deposit SGD via Xfers
Once you are on the SGD fund page, you will be able to see the below interface when you click on "Deposit".
Then, you need to connect to your Xfers account by verifying your Singapore mobile number. Do not worry if you do not have an Xfers account, you will be auto signup for one when you verify your mobile number.
You will be able to see our bank account details once the mobile verification is done.
Then, just deposit from your bank account via FAST Transfer like a usual transaction, the minimum amount of deposit is S$100. Please remember to submit a deposit request after you have made the transaction.
Withdraw via Xfers
To withdraw SGD via Xfers, you would need to verify your bank account by submitting a recent bank account statement in full-page form.
Step 1: Verify your bank account
Step 2: You will be able to submit a withdrawal request after your bank account is verified, the minimum amount of withdrawal is S$60.
Please take note that Xfers charge a withdrawal fee of 0.55% to your withdrawal amount. For example, you will be charged 55 SGD if you wish to withdraw 10,000 SGD.
- Xfers charge a flat fee of 0.55% for both deposits and withdrawals, Coinut does not charge any further from that.
- The flow limit of S$30,000 per annum and stock limit of S$5,000 apply to personal accounts only, it does not apply to business accounts.
- Only transfer with your own bank accounts. Deposits from or withdraws to third-party bank accounts will be rejected. The funds will be refunded to the same account that made the transaction, and a S$5 processing fee will be charged.
- Alternatively, you can deposit XSGD instead of SGD via Xfers to your Coinut XSGD wallet address as the deposit is free of charge and we only charge a blockchain fee for withdrawal. For more information, you may refer to https://coinut.zendesk.com/hc/en-us/articles/900005219603
(Last updated: )