How to Withdraw USDT to a Bank Account (Best Ways)

Holding USDT offers the stability of fiat currency while benefiting from the potential for higher returns associated with cryptocurrencies. However, in case you want to shift your strategy and need to know how to withdraw USDT to a bank account effectively, you’re in the right place!

With the right approach, withdrawing USDT to your bank account can be quick, secure, and cost-effective.

I’ll break down the process of how to cash out USDT to bank account step-by-step on different platforms, including crypto exchanges like Binance and P2P platforms such as the one provided by Bitget, giving you practical tips and strategies to maximize your withdrawals and minimize hassle.

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How to Withdraw USDT to Your Bank Account? 4 Easy Ways

When learning how to withdraw USDT to a bank account, you might think that the process seems complicated at first. However, with a bit of guidance, it can be surprisingly straightforward. Below, you can find four easy ways to withdraw USDT to your bank account, helping you find the best option based on your location, preferences, and the platforms you use.

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Crypto Exchanges

One of the most common ways to convert USDT to fiat currency (like USD or EUR) and withdraw it to a bank account is through cryptocurrency exchanges like Binance and Bybit.

These platforms often offer competitive fees and a range of features beyond just trading, such as staking and margin trading. Moreover, many centralized exchanges are subject to regulatory oversight, which can provide a degree of security and consumer protection.

Related to the USDT withdrawal, some of the exchanges provide convenient off-ramps to fiat currencies, allowing you to easily withdraw your funds to your bank account. Compared to other options, centralized exchanges generally offer a wide range of payment methods and often have partnerships with financial institutions to streamline the process. The payment methods include bank transfers and e-wallets.

The main downside is less control over your assets. Centralized exchanges hold your funds on their platform, meaning that you rely on the exchange's security measures to protect them. While many platforms have implemented robust safety protocols, there is always a risk of hacking.

To use this method, you first need to create an account and complete the know-your-customer (KYC) verification. This verification strongly relies on identity management and provides the backbone of organizational and financial organizations’ anti-money laundering efforts.^[1] It usually involves submitting identification documents, such as a passport or driver's license, and proof of address.

Only after submitting the data can you exchange your USDT for the desired fiat currency. Finally, withdraw the fiat currency to your linked bank account using the available options provided by the exchange.

Here’s a step-by-step guide on how to withdraw USDT to bank account with Binance:

Step 1: Check if Binance lists a trading pair where USDT can be traded against your preferred currency.

Step 2: Go to the [Trade] section on the Binance website and choose [Spot].

Step 3: Click the [USDT] tab in the ticker and type your preferred fiat currency on the provided search bar.

Step 4: Check the [Buy] section below the chart. You can either use a limit or a market order. If you want to get the order completed immediately, I suggest you choose a market order. The exchange then provides you with an estimate of how much you’ll get for selling the specified amount of USDT.

Step 5: After your trade is complete, navigate to the spot wallet on Binance, where you should be able to see your local currency balance.

Step 6: Click [Withdraw] and then choose [Withdraw Fiat] on the left sidebar, where it presents different options to withdraw the money to your bank account. Note that the methods available are different based on the chosen fiat currency.

Step 7: Enter the amount you’d like to transfer to your bank account.

Step 8: Check the overview and click the [Confirm] button if everything is correct.

By following these steps on how to withdraw USDT from Binance, you should have your holdings converted and sent to your bank account.

Crypto Wallets

Some crypto wallets, especially those with custodial services, allow you to complete the steps on how to withdraw USDT to a bank account directly in fiat currency (e.g., USD, EUR), eliminating the need for additional steps.

Knowing how to cash out USDT to a bank account with this method gives you more control over your funds. This is because you have custody of your private keys, giving you full ownership of your assets. Moreover, hardware wallets like Ledger Nano X and Trezor Safe 5 offer a high level of security as they store everything offline and help you avoid hacking attacks.

However, many wallets don't offer direct withdrawal within the platform. You need to send the funds to an exchange or a payment service first before you can retrieve them as fiat currency. So, those who google "How to withdraw USDT from Metamask to bank account", should find an alternative or be prepared for a quite lengthy process.

If you use Ledger devices, there's a quick way to withdraw your funds to a bank account: using its partner called BTC Direct, a payment gateway for fiat-to-crypto transactions (or vice versa). It helps sell several cryptocurrencies, including USDT, BTC, and ETH, within Ledger Live.

Note that BTC Direct only supports the sale of cryptocurrency for euros (EUR). Also, make sure BTC Direct supports your country of residence.

Follow these steps on how to withdraw USDT to a bank account using Ledger Live:

Step 1: Go to the [Discover] section of Ledger Live and click [BTC Direct].

Step 2: Click [Continue] and then [Sell].

Step 3: Choose the currency you want to sell and its amount in the [Create order] window. Once you enter the amount you want to sell, you should see the amount you'll receive automatically.

Step 4: Enter your bank account IBAN and click [Preview order].

Step 5: Create a BTC Direct account if you don't have one. If you already have an account, just sign in by entering your name, email address, and password.

Step 6: The address for sending the USDT holding is displayed on the screen. Click [Send] to send the crypto to the given address and paste the provided address.

Step 7: Review the transaction details and click [Send].

Step 8: Connect and unlock your Ledger device and open the [Exchange app].

Step 9: Verify the transaction details on your device and press both buttons simultaneously to accept and send the transaction.

Congratulations! You now know how to withdraw USDT to a bank account from Ledger Live. As you can see, the process is quite straightforward when you familiarize yourself with it. That said, the process of how to withdraw USDT from Metamask to a bank account will be different. This, of course, includes other wallets as well. The difference is not necessarily big, but it's recommended to visit the official website for the step-by-step guide either way.

P2P Platforms

P2P platforms are online marketplaces where individuals can directly buy and sell cryptocurrencies from each other.

Unlike centralized exchanges, P2P platforms typically don't act as intermediaries. Instead, they provide a platform for buyers and sellers to connect and negotiate transactions. They offer more privacy as you trade directly with another user and additional flexibility to negotiate better exchange rates.

Moreover, these platforms often allow for a wider range of payment methods, including cash, bank transfers, and other cryptocurrencies. You may also find buyers in your local area, which can be convenient and reduce the risk of scams.

The potential downside is that P2P transactions can be slower. This is because you need to find a suitable buyer and negotiate terms, and you may have limited customer support compared to centralized exchanges or crypto wallets.

To withdraw USDT using a P2P platform, you generally need to create an account on the chosen platform, place a sell order, find a buyer, negotiate terms, and complete the transaction. You may also need to complete the KYC verification.

Now, I’ll show you the step-by-step guide on how to withdraw USDT to a bank account using Bitget. Why Bitget? Besides its user-friendliness and multiple payment methods, its P2P marketplace functionality offers various features. It includes an escrow service that ensures secure transactions by holding funds until both parties confirm the trade and dispute resolution.

Step 1: Go to the P2P asset selling page and choose USDT as the cryptocurrency you want to sell. Pick a fiat currency and payment method on the provided search bar to see a list of partners that can help you with the transaction, along with their limits, fees, and payment options.

Step 2: Hit the [Sell] button on the partner you want to trade with. To ensure its security, I suggest you pick only the partner with a badge icon.

Step 3: Enter the amount you’d like to sell – you can input by USDT or fiat. Once you’re all set, press the [Sell USDT] button.

Step 4: Select a payment method the buyer uses to pay into your account. Note that the availability depends on several factors, including the merchant and fiat currency you choose. Then, click [Confirm sell] to proceed.

Step 5: Wait for the buyer to make the payment. Make sure the fund has been successfully deposited in your bank account or wallet (depending on the method you choose) when the buyer marks the transaction as successful.

Step 6: After verifying that the buyer has done it, click the [Release] button. A small pop-up appears for you to enter the fund password.

The process of how to transfer USDT to a bank account with a P2P platform provided by Bitget seems easy, right? If you decide to use this method, make sure you choose a reputable P2P platform because many scams and fraudulent activities happen on this kind of medium. Besides Bitget, you can learn how to withdraw USDT from Binance since the exchange has P2P functionality.

Another tip is to always verify the identity of the person you're dealing with by checking the user rate and review, if any, and use the provided communication channels. Additionally, be cautious of offers that seem too good to be true, as they may be scams.

Payment Systems

If the crypto exchanges or wallets and P2P platforms don’t support your preferred currency or integration with your bank account, consider transferring the funds first to payment systems like PayPal, Venmo, and Stripe. From there, you can withdraw the money to your bank account or use it to make payments.

This option can often be more convenient than direct bank transfers since some payment systems allow you to sell cryptocurrencies directly within their platforms. However, completing the steps on how to transfer USDT to bank accounts with payment systems may require additional fees and limitations (e.g., PayPal only supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash in certain countries at the time of writing).

To use payment systems to withdraw USDT, follow the steps on how to withdraw USDT from Binance or another exchange and wallet first until you’ve got the crypto converted into fiat or another cryptocurrency supported by the payment system. After that, transfer the funds to your preferred payment system.

In this guide, I use Binance to convert USDT to Bitcoin, send the BTC to PayPal, and then convert it to cash within the payment processor. Here's the step-by-step process:

Step 1: Click [Withdraw] on the Spot Wallet, and then [Withdraw Crypto].

Step 2: Select the coin you want to withdraw (in my case, Bitcoin).

Step 3: Copy and paste your PayPal crypto wallet address on the provided address field within the [Withdraw To] section. After that, choose the correct network.

Step 4: Enter the withdrawal amount and click [Confirm] to complete the transaction.

Step 5: On your PayPal dashboard, locate your crypto wallet and click on [Bitcoin].

Step 6: Scroll down on the selling page and click the [Sell] button and [Continue] to confirm some tax information.

Step 7: Verify your legal name, date of birth and 9-digit social security number. Then, enter your current residential address and check the box to confirm that you're a US citizen or legal resident.

Step 8: Enter your first and last names that act as a legal signature. Then, click the [Submit] button.

Step 9: Enter the amount of Bitcoin you want to sell and press [Next]. There should be a window showing how much you’re selling, exchange rate, price, transaction fee, and how much you’ll receive. The transaction fee depends on how much you sell. If you’re okay with that, click [Sell Now].

The money goes to your PayPal balance, which you can see on the PayPal dashboard. Note that PayPal’s crypto wallet is available for US users. So, you might choose another payment system or USDT withdrawal method if you live outside the country.

Which is the Best Method to Transfer USDT to a Bank Account?

The "best" method on how to withdraw USDT to a bank account depends on various factors, including your specific needs and the circumstances.

The main consideration when choosing a method for USDT withdrawals is security. Prioritize platforms and methods that have strong safety measures in place to protect your funds. Look for features like two-factor authentication (2FA), cold storage options, and reputable customer support.

More importantly, make sure it’s compliant with relevant regulations in your jurisdiction. This ensures that the platform operates within legal boundaries and provides a certain level of protection for consumers.

I also suggest you calculate the transaction, network, and exchange fees associated with different methods. Some may incur higher total costs because they have various additional charges to cover the costs of processing transactions.

Moreover, assess how quickly you need the funds to be available in your bank account since some methods may have faster processing times than others. For instance, using a centralized exchange with direct bank withdrawal options can often provide faster processing times compared to P2P transactions that may need negotiation.

Lastly, don’t forget to consider convenience and ease of use when researching the most suitable approach on how to transfer USDT to a bank account.

Select a platform with a user-friendly interface that is easy to navigate and take into account what features are available. In addition, I recommend you consider how well the application integrates with your local currency and banking system. This is because it can influence factors like the availability of direct bank withdrawals, supported payment methods, and the overall user experience.

Here's a breakdown of the available methods on how to withdraw USDT to a bank account and their key considerations:

Table: Comparison of available methods on how to cash out USDT to a bank account.

The best method how to withdraw USDT to a bank account depends on your individual needs and preferences. Carefully consider the factors outlined in the table to choose the most suitable option for you.

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Tips to Reduce Fees When Withdrawing USDT

When completing the steps on how to withdraw USDT to a bank account, it's essential to be mindful of the associated fees to help minimize your costs and maximize your savings. In this guide, I'll explain two ways to reduce the charges when you transfer USDT to a bank account: platform choice and timing considerations.

From the comparison table above, you may already know that each platform has a different pricing structure. Therefore, make sure to compare the fee structures of different platforms before choosing one. That said, consider variables such as transaction and network fees or any other additional charges that may apply.

Additionally, seek platforms that offer discounts for high-volume traders or referral programs, especially if you anticipate making frequent transfers or have friends or family who might be interested in using the platform. These incentives can help you save on costs and potentially earn additional benefits.

You may also consider local exchanges that support your country’s currency to avoid international bank transfer fees. Some platforms have direct integrations with local banks, offering lower costs and faster transactions than global exchanges. For those comfortable with international exchanges, avoid platforms that charge high conversion fees to convert USD to your local currency.

Besides carefully choosing the platform and calculating the potential fees, assess the timing because it can play a role in reducing fees. Avoid peak hours like late morning and early afternoon when transaction volumes are high, and fees may be elevated. Monitor network congestion, as increased activity can lead to higher costs.

If the platform you choose requires you to pick a supported network (usually when you withdraw crypto from an exchange or use a decentralized wallet), opt for a blockchain network with lower transaction fees for USDT transfers. Ethereum, for example, can experience higher gas fees during periods of congestion. Consider alternatives like Binance Smart Chain or Polygon.

Common Errors in The USDT-to-Bank Withdrawal Process and How to Solve Them

When you first explore how to withdraw USDT to bank account from the explanation above, it can seem seamless and simple. However, it's not without its challenges. Many users encounter common errors that can lead to delays, additional fees, or even lost funds.

In this section, I’ll highlight the most common errors people face when learning how to cash out USDT to a bank account and provide practical solutions to help you avoid or resolve these issues.

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Incorrect Bank Account Information

One of the most frequent mistakes is entering incorrect bank account details, such as account numbers or SWIFT codes, which can result in failed withdrawals or delays.

Therefore, it’s highly important to double-check all bank account information before submitting your withdrawal request. This simple step can save you from unnecessary delays, potential transaction failures, or even the risk of losing your funds. Be sure to verify details such as account numbers and codes because any mistake could lead to complications during the withdrawal process.

If an error occurs, contact the platform’s customer support immediately. Some exchanges may allow you to correct information quickly before processing the withdrawal. For international withdrawals, verify whether your bank uses intermediary banks that could require additional information.

Mismatched Name Between Exchange and Bank Account

There’s a possibility that the withdrawal fails because the name registered on your exchange account doesn’t exactly match the name on your bank account. This issue can arise because the KYC regulations generally require your identity to match across platforms.

In this case, ensure the name on your exchange account matches the name on your bank account. Update your information on the exchange before attempting the withdrawal if there’s a mismatch.

If the mistake has already happened, contact customer support to see if they can reverse the transaction and allow you to correct the details.

Unsupported Bank or Country Restrictions

Some exchanges don’t support withdrawals to certain banks or countries due to regulatory restrictions, which can cause your USDT withdrawal to be rejected. So, always check if the exchange or wallet supports bank withdrawals to your country or region before initiating the transaction. Many of these platforms publish lists of supported countries and banks.

If your country isn’t supported, consider using P2P withdrawal options, where buyers transfer funds directly to your local bank account. Alternatively, withdraw crypto and transfer it to payment systems.

Those who purchased USDT without first checking if the exchange supports withdrawals in their country, will first need to transfer it to a different platform. Then, you can proceed with converting and withdrawing your assets.

Fraud or Scam Risks

Engaging in P2P transactions or using unverified third-party services for withdrawals can expose you to fraudulent activities. The most common types of crime involving cryptocurrency are fraud schemes or scams, ransomware or other cybercrimes, and cryptocurrency theft.[2]

Fraud schemes or scams attempt to trick users into revealing personal information, sending money to fake addresses, or investing in fraudulent projects. Scammers often use tactics like phishing emails and fake websites to deceive their victims.

Meanwhile, ransomware involves malicious software that encrypts a user's data and demands a ransom payment in cryptocurrency to unlock it. Moreover, cryptocurrency theft can occur through various methods, including hacking, phishing, and social engineering.

So, how to withdraw USDT to a bank account safely? Before using a platform to retrieve your funds, ensure it's legitimate and secure by researching its reputation, checking for customer reviews, and verifying its regulatory compliance. Look for applications that have robust security measures in place, such as 2FA and cold storage options.

Moreover, create a strong and unique password for your account and avoid sharing it with others. If you're using a hardware wallet, keep your seed phrase in a safe place where anyone can't access it.

Also, keep an eye on your account activity and report any suspicious transactions immediately.

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Transaction Delays

Even after a successful conversion and withdrawal request, some users can experience long delays in receiving funds in their bank account. Some possible reasons include:

• Network congestion when processing the transaction;
• Insufficient fees, so the transaction is prioritized lower and takes longer to confirm;
• Technical issues on the blockchain network or within the platform.

If your withdrawal exceeds the expected time, contact the platform's support for an update. Make sure to keep a transaction ID or withdrawal reference handy to provide the necessary information to the support team and facilitate the resolution of the issue more efficiently. Note that bank holidays or weekends can further delay the process, so it’s essential to plan your withdrawals accordingly.

To troubleshoot transaction delays yourself, check the estimated processing time for withdrawals on the platform you choose or use a blockchain explorer to monitor the network status and identify any issues.

In case you see that the transaction is stuck, it might be due to network congestion. In this case, you can either wait for the transaction to process or try to cancel and reinitiate it at a higher gas fee (only available on some platforms). In addition, you can also try choosing a network with lower traffic.

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Conclusions

Completing the steps on how to withdraw USDT to a bank can be a straightforward process when approached with the right knowledge and preparation. The key steps involve selecting a trusted platform, converting USDT into fiat currency, linking your bank account, and initiating the withdrawal.

To make sure you have a smooth experience, choose a platform that supports your country’s banking system, offers competitive fees, and provides a secure environment for handling your assets.

Binance can be a good option, as it offers a wide range of features and supports cryptocurrency and fiat withdrawals for easy conversion and transfer. Meanwhile, those who want to have more payment methods and flexibility to pick the transaction fees can choose Bitget.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. N. Kapsoulis, A. Psychas, G. Palaiokrassas, et al.: 'Know Your Customer (KYC) Implementation with Smart Contracts on a Privacy-Oriented Decentralized Architecture';

2. D. S. Kerr, K. A. Loveland, K. T Smith, et al.: 'Cryptocurrency Risks, Fraud Cases, and Financial Performance'.