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Can I withdraw money from Luno? Is it possible to withdraw my Luno money to my bank account? Here, we are going to answer all your questions. In this article, we will teach you how to withdraw money from Luno.
It is no secret that withdrawing from Luno has become a headache to many. We cannot actually confirm whether they are doing it the right way. Just like any other cryptocurrency platform, withdrawing money from your Luno wallet should not be an issue provided you do it the right way.
What is Luno?
Luno is a crypto currency platform that enables members to invest, buy, store, and trade their crypto currencies. Luno has over 10 million users, and is available in more than 40 markets across Asia, North America, Europe, and Africa.
As indicated above, Luno is a cryptocurrency wallet that let members sell, buy, store and trade Bitcoin and Ethereum. You do not need to be experienced to start using Luno.
Luno is said to be one of the world's most sophisticated Bitcoin security systems which has never been compromised.
How to Withdraw Money From Luno
To withdraw money from your Luno account, you need to first of all link your bank account to your Luno wallet. When you are done, follow the steps below to withdraw money from your Luno wallet to your bank account.
- On your dashboard, select "wallets" from the menu and then choose "withdraw" on your local currency wallet
- Make sure your bank account is link to your Luno wallet. If you have not yet linked your accounts, do so before proceeding
- Enter the amount of money you wish to withdraw
- Next, select your bank account linked to your wallet and enter your PIN to withdraw.
After following all the steps provided above, your money should be deposited to your bank account within the next few days depending on your country's location, and the bank you use.
For instance, in the United States, it takes up to 24 hours after your withdrawals to be deposited to your bank account. In some countries, it takes over 72 hours. Withdrawal processing time is usually between Mondays and Fridays.
FAQs about Luno withdrawal
Can I Withdraw Luno to Another Person's Account?
Luno has strict policies when it comes to withdrawing money from your wallet. That platform does not permit members to withdraw money into a friend or family member's bank account.
Withdrawal must only be to the same person's bank account who owns Luno's wallet. The platform has other policies when it comes to withdrawing to a company's bank account.
How Long Does Luno Withdrawal Take?
As said earlier, the time it takes for your Luno money to hit your bank account depends on several factors such as your country, the type of bank, and the day you withdraw your money.
For instance, in the United States, it takes approximately 24 hours to receive your money to your bank account. Also, when you withdraw on Friday, it may take up to 4 or 5 days before you receive your money. Remember your funds are processed on on working days.
How to Withdraw Money From Luno to Bank Account
To withdraw money from Luno to your bank account, first of all, make sure your bank account is linked to your Luno wallet. Login to your Luno wallet and select wallet from the dashboard. Choose withdraw to your local currency. Enter the amount you wish to withdraw and confirm your details. Click on enter and wait for your confirmation message.
Your money will be deposited to your bank account within three working days depending on your location and bank type. Remember, transaction fees may apply.
What is Luno Withdrawal Limit?
Luno withdrawal limit is based on your verification level that you are on. To check your luno withdrawal limit, visit your Luno account and click on "Fees and Limits" icon.
Which Countries is Luno Available?
Luno is available in the following countries:
- Australia
- Europe
- Indonesia
- Malaysia
- Nigeria
- Singapore
- South Africa
- Uganda
- United States
Conclusion
To withdraw money from Luno to your bank account, follow the steps listed in this article. To quickly recap, you can withdraw money from Luno to your bank account by first of all linking your account number to your Luno wallet, selecting the wallet from your account, choosing "withdraw", entering the amount to withdraw.
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