⚙️ How Payouts / Withdraws Work

How Payouts / Withdraw Works

1. Verification

   • All individuals or businesses must complete KYC (Know Your Customer) or KYB (Know Your Business) verification. This may involve providing your country of residence, a form of ID, and a selfie. KYC approvals typically takes under 10 seconds, while KYB usually completes automatically within 30 seconds. If automatic KYB verification fails, a manual review may take up to 24 hours, though most businesses (90%) pass within the initial 30 seconds. Verification times may vary based on location and review needs.
   • Merchants who already conduct KYC on their platforms can pass Coinflow the user’s KYC data when implementing via API. See the API docs here.

2. Bank Account Linking

   • End-users need to link a bank account or debit card to receive their funds. Depending on your implementation method, Merchants may need to integrate bank authentication to enable end-users to add a bank account. For those using our pre-built UI, bank authentication is done Plaid.

3. Withdrawal Selection

   • Select a preferred payout speed: Instant settlement, same day settlement, or standard settlement.

4. Confirmation

   • Receive a confirmation of your withdrawal once processed.

Withdraw Flow of Funds for Payout from User Custodial Wallet

Withdraw Flow of Funds for Payout from Merchant Wallet / Coinflow Wallet

📘 Try Withdrawing Funds on Sandbox!

Try withdrawing funds on our example app.

1. Link A wallet.
   • If you do not have a wallet, click Select A Wallet > More Options > Burner Wallet.
2. Copy Wallet Address by clicking on the wallet address.
3. Send testnet USDC to the copied wallet address.
4. Navigate back to our example app.
5. Complete verification Form.
6. Add a bank account or debit card.
7. Select payout speed.
8. Withdraw your funds!

Note: Our sandbox environment does not use any real money.