BUSD Redemptions & Wire Withdrawals
For Cancelled Withdrawals
Your funds remain safely in your account and are reflected on your account balance.
For immediate service, transfer via crypto and stablecoin (USDP) are currently available for your account.
We appreciate your understanding and patience. Please reach out to us if you have any further questions.
Wire withdrawals can only be sent out on weekdays and may take up to 5 days to reach your recipient bank.
US Domestic Wires
For US domestic wires, withdrawals typically reach beneficiary banks T+0. For same day processing of wire withdrawal requests on weekdays, please submit your withdrawal by 1.30pm EST.
International wire transfers sometimes take 2-5 days. Paxos is not responsible for delays in wire transfers due to intermediary or recipient bank issues.
Common issues that may delay your USD withdrawals
- Name mismatch: Any withdrawals to a bank account that is not under the same name as your registered Paxos name will be considered a third-party withdrawal and rejected. For withdrawals to brokerage accounts, please refer to this article How to Submit a Wire Withdrawal to Your Brokerage Account
- Intermediary bank delays: International wires can take up to 5 business days to reach your account due to the funds being routed through multiple intermediary banks.
- Incorrect or Missing Wire Details: This may result in the withdrawal being rejected and returned by the intermediary or beneficiary bank. Examples include incorrect IBAN numbers or bank account name mismatch, etc. Please validate by reaching out to your beneficiary bank before submitting wire withdrawal requests.
- Invalid or Missing ABA: Most often, banks will use different ABA (routing) numbers for different types of transfers. Please confirm with your bank that the ABA routing number you’re using corresponds to a wire transfer.
- USD wires are not processed on weekends & on US banking holidays: On weekends and these dates, Paxos will not be processing any wire deposits or withdrawals.
If you're experiencing multiple withdrawal cancellations and cannot identify the reason, we would advise you to visit the settings page within your Paxos wallet dashboard. From here, you can manage your saved bank account information. Here you should check whether you saved any information wrongly (for example, it is possible that you put the name of your bank in the field that requires your full name).
If it is has been over 5 days since your withdrawal has been processed, you may wish to submit a help ticket here.