Withdrawing Funds

Withdrawing refers to sending fiat or crypto to external accounts.

To transfer funds between Layer2 accounts, see Transfers. To deposit assets into a Layer2 account from an external account, see Depositing Funds.

Deposit Accounts

There are 3 steps to performing a withdrawal from a deposit account:

1. Setup a Counterparty if one does not exist for the external account.
2. Create the Withdrawal using the withdrawals endpoint with the following info:
   • withdrawal_rail set to the ACH, Fedwire or Crypto. NOTE: the destination counterparty has to support the withdrawal rail selected.
   • source_account_id set to the Layer2 account to withdraw from.
   • amount set to the amount that needs to be withdrawn
   • destination_counterparty_id set to the counterparty from step 1. Once you create the withdrawal, you will get a withdrawal_id back that you will need to accept/ execute or retrieve details on the withdrawal.
3. Execute the Withdrawal - using the withdrawals/{WITHDRAWAL_ID}/accept endpoint .

NOTE: There is no testnet for fiat in sandbox. To simulate a fiat withdrawal in sandbox, you have to use the memo you get in the withdrawal execution in the "Confirm Withdrawal" flow in the Management UI.

Payment Gateway Accounts

Payment accounts can only receive deposits from external accounts. To withdraw from a payment account to an external account, funds must be exchanged to transferred into a deposit account, and then withdrawn from there.

Yield Accounts

To withdraw from a yield account to an external acount, funds must be transferred into a deposit account, and then withdrawn from there.