Common digital currency withdrawal issues

Occasionally, users run into issues when trying to withdraw funds from our platform. This list outlines some of our most common issues that users face when trying to withdraw funds.

But first, take a deep breath. Coinsquare is Canada’s safest digital currency trading platform and we have never lost a single dollar or digital currency coin. Your funds are safe, and we will make sure that they get to your bank account ASAP. 

If you are getting an ‘Insufficient Funds’ message

The most likely reason is that you are still under Coinsquare’s withholding period. Depending on the funding method you chose, we require funds to be withheld for a few days to comply with AML regulations and to prevent fraudulent behaviour. Please review the chart below for the length of your withholding period.

The withholding period does not affect your ability to make trades between currencies – only withdrawal from the Coinsquare platform.

FundingOptionsFeesWithholding.png

The withholding period does not affect your ability to make trades between currencies - only withdrawal from the Coinsquare platform. 

Funding with Interac e-Transfer: 3 day withholding period

Funding with Interac Online: 3 day withholding period (document center verified) or 7 day withholding period (instantly verified)

Funding with credit card: 21 day withholding period

Funding with bank draft: 14 day withholding period

Funding with money order: 5 day withholding period

Funding with Flexepin or a wire transfer: No withholding period

If you have passed the withholding period and are still getting an 'Insufficient Funds' message

Check to see if you have any open limit orders on your account. When limit orders are left open, those funds cannot be withdrawn. You must first execute or cancel your existing orders for those funds to become available for withdrawal.

Also, check to make sure you have the correct currency selected when trying to make a withdrawal.

If your withdrawal request status is set to 'Email Confirm' or 'Undefined'

Check your inbox. We’ve sent you an email to confirm your withdrawal. Open the withdrawal email and click the link. While awaiting withdrawal, funds will be ‘held’ in the request and will be unavailable for trade.  If you cannot confirm the link, please try copying and pasting the link in your browser’s URL field (you must be signed into Coinsquare).

If your withdrawal request status is set to 'Verification-0'

Your funds are waiting to be sent outbound by our systems. Larger withdrawals require more vigorous verification before being sent out. They are processed regularly during business hours.

If your withdrawal request status is set to 'Processed' but the money is not in your receiving wallet:

Your transfer has been processed to the blockchain. Follow up with the recipient wallet holder to check on the status. You may also review your transaction on the blockchain.

If your digital currency withdrawal from Coinsquare was confirmed on the blockchain but is not showing up in your external wallet:

Please submit a request with your transaction ID and wallet address and a member of our team will reach out as soon as possible. Using the Category: Withdrawal.

If you're attempting to withdraw Bitcoin Cash and are experiencing an invalid crypto address error please try submitting the "To:" address with the prefix "bitcoincash:":

If you're still experiencing errors please submit a request using the Category: Withdrawal.

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