Cryptocurrency exchange Coinbase has recently introduced a convenient new withdrawal method for its users. By linking a compatible debit card to your account, you can now instantly convert your crypto holdings into USD, EUR, or GBP and transfer the funds directly to your bank account. However, this premium service comes with additional fees that users should be aware of.
Withdrawal Fee Structure
United States:
- 1.5% transaction fee
- Minimum fee of $0.55 for small transactions
United Kingdom:
- 2% transaction fee
- Minimum fee of £0.45
Europe:
- 2% transaction fee
- Minimum fee of €0.52
Supported Payment Networks
Coinbase requires cards that support specific fast-fund transfer technologies:
- Visa cards must support Visa Fast Funds
- Mastercard cards must support Mastercard Send
Given the complexity of determining card compatibility, Coinbase recommends:
- Adding your card to your Coinbase account
- Attempting a test transaction to verify compatibility
Alternative Withdrawal Methods
Coinbase continues to support other withdrawal options that may be more economical:
European Users:
- SEPA Bank Transfer: €0.15 per transaction
- Instant SEPA Transfers: Available with participating banks
PayPal Withdrawals:
- Instant transfers to PayPal accounts
- No fees from Coinbase
👉 Learn more about cryptocurrency withdrawal options
Frequently Asked Questions
What currencies can I withdraw to my bank account?
Coinbase currently supports USD, EUR, and GBP for direct bank transfers.
How long do bank transfers take?
Transfers to compatible debit cards are typically instant, while traditional bank transfers may take 1-3 business days.
Are there limits on withdrawal amounts?
Yes, withdrawal limits vary based on your account verification level and local regulations. Check your Coinbase account for specific limits.
Can I use credit cards for withdrawals?
No, Coinbase only supports debit cards for this withdrawal method.
Is this service available worldwide?
Currently available in the U.S., U.K., and Europe with plans for future expansion.