From today you can withdraw Euros from Young Platform to your enabled credit and debit cards. Find out how!
Is the card your favourite deposit method, with its immediacy and flexibility? Then this is the moment you have been waiting for.
You can now withdraw funds from your Euro wallet and transfer them to the card you already use for deposits.
What’s more, Young Platform is the second exchange in Europe to integrate withdrawals to credit or debit cards. Not bad, right?
How does withdrawal work?
The ability to use this withdrawal method, the amounts allowed and the timing of the transaction depend on the type of card you have and your past activity.
Supported cards
Cards that support this functionality are only those enabled with Mastercard Send or Visa Direct.
Users who can use the functionality
You can only use this withdrawal method if:
- You have already used a Mastercard Send or Visa Direct card to make deposits.
And
- You have entered your telephone number during sign up.
If you have not performed these two actions, you can complete them at any time and thus activate the card withdrawal. How?
When you attempt the withdrawal, you will automatically be asked to provide your telephone number. This number is only needed to receive the security code to confirm the withdrawal and guarantee that it was you who made the withdrawal.
Maximum withdrawal amount
The maximum withdrawal amount is calculated based on your past deposits, as follows:
Limit = Sum of the amounts of all deposits made with one card – sum of the amounts of all withdrawals made with one card.
Let’s take some examples:
- If I have deposited a total of €50 with my Visa Direct since I added it, and I have never made a card withdrawal, I can withdraw up to €50 (Limit = 50 – 0)
- If I have deposited a total of €50 with my Visa Direct since I added it, and I have withdrawn a total of €20, I can withdraw up to €30 (Limit = 50 – 20)
Please note: If you remove your card and add it again, your total deposit and withdrawal account will be reset to zero and consequently withdrawal will be disabled. You will have to deposit again to be able to withdraw.
Timing and fees
If your Mastercard Send or Visa Direct card does not support fast funds, withdrawal may take up to 48 hours.
If your card supports fast funds, withdrawal may take up to 30 minutes/1 hour. The fees charged are the same as for a card deposit: 2.2% + €0.25.
If you have any questions, please contact support!
