Withdrawal Policy

If you are a Consumer Customer, you have a fourteen (14) day right of withdrawal pursuant to consumer protection laws. To make it easier for you to exercise this right, we provide you with all the information below. 
Your right of withdrawal
1.2.1.   Within 14 days of the date of opening your BIT.TEAM Account, you may close your BIT.TEAM Account at no cost sending the corresponding requirement of the Website Administration to the email address [email protected]
If you have uploaded funds into your BIT.TEAM Account, you may be required to provide identification documents before being able to withdraw funds. Transactions and fees for transactions undertaken before you close your BIT.TEAM Account (including those transactions that are not revocable and have been initiated but not completed before closure of your BIT.TEAM Account) will not be refunded.


You can request a withdrawal of all or part of the digital assets in your BIT.TEAM Account at any time. To do this you must log into your BIT.TEAM Account and select a withdrawal method and enter the amount to be withdrawn. Withdrawal methods are payment services provided, at least in part, by third party financial institutions (for example, the bank where you hold a bank account). 
To comply with Anti-Money Laundering/Counter-Terrorism Financing Rules and regulations, BIT.TEAM will only process withdrawals to the same account (e.g., credit/debit card, bank, alternative payments account, etc.) that was used to deposit the funds. At its direction, BIT.TEAM reserves the right to reject instruction to process return of funds to a different account without providing reasons. Additional information and documents may be required to be provided by the client. 
You confirm and agree that transactions may be delayed due to checks (verification) for up to one (1) month or more in the event of unforeseen or unavoidable problems in the network.
We do not guarantee the availability of any particular withdrawal method and may make changes to or discontinue a particular withdrawal method at any time as there is at least one withdrawal method available to you. Where the withdrawal payment is received by you through the involvement of a payment service provider (such as the bank where you hold a bank account), we shall not be responsible for the withdrawal payment once the withdrawn funds are received by your payment service provider. We also reserve the right to request an alternative bank account or other withdrawal method to be used in case we are unable to process the withdrawal to your preferred withdrawal method.
Withdrawals are generally processed within 24 hours. Depending on the withdrawal method chosen, it can take between 1-7 business days for you to receive your funds. The company cannot be held liable for any deposit/ withdrawal processing delays that are caused by payment systems. This is without prejudice to clause 2.3.
Your BIT.TEAM Account is subject to withdrawal limits. These limits are set by AML rules and by BIT.TEAM's internal documents. In the event of suspicious activity, we reserve the right to set limits individually.  
If your withdrawal request exceeds the limit, we may decline your request and instead require you to send us documents verifying your identity and address prior to allowing a withdrawal of funds or to otherwise cooperate with us to verify your identity.
Withdrawals are subject to fees including currency conversion fees (if applicable) as indicated before withdrawal. 
For the purposes of a withdrawal transaction, we are a payer and not a payment service provider.
You must not make a withdrawal to a bank account or other payment method if you are not the named holder. We take any violation of this requirement very seriously and will treat any attempt to use a payment method of which you are not the named holder as a fraudulent act.
You must ensure that the payment details you enter when withdrawing funds are correct and complete. We will not be liable for withdrawn funds being sent to the wrong account where this is due to you providing incorrect payment details. When withdrawing to a bank account, you must ensure that the account number, sort code, IBAN and/or BIC/SWIFT are correct. If you have withdrawn funds to the wrong account, you may request that we assist you in reclaiming the funds. 
In some cases, your external account may reject your digital assets or may be inaccessible. You agree that you will not demand compensation for damages caused by the platform, resulting from such declined transactions.

Created - March 17, 2023 2:47 PM
Updated - February 14, 2024 12:28 PM