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How are withdrawals processed?

Withdrawal requests are subject to the participant’s available account balance, Withdrawal Limits, Withdrawal Locks and Withdrawal Accounts/Addresses (all defined below). Funds will be confirmed to be sufficient for withdrawal by Zero Hash as the calculation agent before being processed.

Withdrawal Accounts & Addresses

By default, all accounts are deemed to be blacklisted (not approved for withdrawals) until added and approved by a participant.

Withdrawal Accounts and Address are approved bank account and cryptocurrency addresses that a participant has approved for use by its users. Whilst Withdrawal Accounts & Addresses may be suggested by any participant administrator or authorized signer, they can be approved only by authorized signers. Once approved, the Withdrawal Account or Address will be available for withdrawals.

Withdrawal Accounts are added via the SeedPortal, under the Funds tab. Simply select "Withdraw" for the appropriate fiat currency, and then “Manage Accounts” (for fiat) or “Manage Addresses” (for cryptocurrency) to submit a request for a new Withdrawal Account or Address. Fill out the relevant bank information or address needed for Seed CX to transfer funds into and submit for approval. Once approved, the Withdrawal Account or Address will be available in the dropdown menu in the withdrawals page for future Withdrawal Requests.

Controls:

  • Withdrawal Limits are the maximum amount of a currency, denoted in that currency, that a Participant may withdraw at any one time.
  • Withdrawal Locks are outright restrictions on an account that prevent any withdrawals from being processed to that Withdrawal Account/Address.
  • Changing any control feature of a Withdrawal Account or Address will remove it from its previous approved state, thereby removing it as an option for submitting withdrawals, until such time that it is approved again by at least one authorized signer.
  • Note: changing a Withdrawal Accounts status from approved to pending will immediately cancel all previously approved but unprocessed Withdrawal Requests.

Withdrawal Requests

The cutoff time for same day withdrawals is 4:00pm CST. After the close of trading, withdrawals will be reviewed and processed by Seed CX, assuming all settlement obligations have been met in full and there is sufficient balance remaining. If the requested amount of the withdrawal exceeds the amount available to withdraw, Seed will send up to the amount that is available to be withdrawn. Please contact Seed CX Support with any questions.