What to do if fiat currency withdrawal/remittance does not arrive?

The money will be credited to the account on the same day. If the withdrawal time is too late or the bank reviews it, it usually takes one to three working days to arrive. If the money has not arrived by the third working day, please contact BiyaPay customer service to check the progress of the remittance.

Failure to withdraw fiat currency may be caused by various reasons. Here are some common reasons:

1.Bank processing time:

• Different banks have different processing times, especially during weekends or statutory holidays, which may cause delays in cash withdrawals.

2.Bank review:

• Due to the sensitive identity or uncertain information of the payee, or the additional review of suspicious transactions, the bank review may include any party of the intermediary bank, the remittance bank, and the receiving bank, which may lead to a longer processing time.

3.Receiving account info error:

• If you fill in the wrong bank account info (such as incorrect account number, payee name, bank code, etc.) when submitting a withdrawal request, it may cause the funds to not be successfully transferred to the receiving account.

4.Transit bank issue:

• During the cross-border remittance process, funds may need to go through multiple intermediary banks. If there are problems or processing delays with the intermediary banks, it may also affect the arrival time.

5.Anti Money Laundering (AML) and Regulatory Scrutiny:

• If the withdrawal amount is large or there are other suspicious aspects, it may trigger the Anti Money Laundering and Regulatory Scrutiny procedures, causing withdrawal delays or requiring additional documentation.

Understanding these possible reasons can help you better understand why withdrawals may be delayed and take appropriate measures to contact the BiyaPay support team or wait for further processing.