To withdraw a fiat currency, you need to do the following:
1) Have any fiat currency on your balance, EUR for example. Go to Portfolio → Select your fiat currency.
2) Tap on Withdraw, at the bottom right.
3) Add a bank account you want to withdraw your money to (tap Add Bank account). In case you already have one added, just select it.
4) Select the country of your bank and tap "Next".
5) ATTENTION! You can withdraw only to a bank account with the name that matches your name in the SwissBorg app.
6) Insert your IBAN information.
7) Tap Save Account.
8) After you have successfully added your bank account, you will be asked to enter the amount.
9) Input the amount and tap Next.
10) If the details are correct, tap on Confirm.
11) In order to successfully withdraw fiat currency from your SwissBorg app, you have to input the correct PIN/Passcode or successfully pass the biometrics check. By default, the PIN/Passcode option will be selected, but you can also choose the biometrics option and continue the withdrawal.
12) After you successfully input your PIN/Passcode or pass the biometrics check, you will see the screen below.
IMPORTANT!
If you fail to input the correct PIN/passcode 3 times, you will not be able to continue with the withdrawal process for 5 minutes. If after that you fail to input the correct PIN/Passcode 3 more times, you will not be able to continue with the withdrawal process for 10 minutes.
After that, if you fail to input the PIN/passcode 3 more times, you will be logged out of the app and you will have to go through the manual recovery process. After successfully passing the manual recovery, some actions on your account will be frozen for 24 hours.
Note on Reference Number
It is currently not possible to add a custom payment reference, message, or membership number to fiat withdrawals from the SwissBorg app. If your beneficiary bank or payment provider requires a specific reference to allocate incoming funds, please use a personal bank account in your own name that does not require an additional reference.
How to update my bank details for withdrawals
Should you need to update your bank account, to add another one or to delete it, the path is identical to a normal fiat withdrawal.
Go to Portfolio → Select your fiat currency (Eur, CHF, GBP...) → Tap Withdraw → Your current Bank account appears.
Note: If your fiat balance is under the minimal withdrawal amount, you won't be able to access your bank details page.
From here, you may press "Add a Bank Account" and enter the details.
You can also delete the Bank account you no longer need by tapping the trash bin icon.
Every bank and online bank (Revolut, N26...) are supported for a fiat withdrawal. However, online payment services such as Paypal or Lyf Pay can't be used.
Should you have other question, please contact support@swissborg.com, or directly in the app, in Profile → Support → Chat with us.