Withdrawing funds

It's easy to withdraw your funds from your Plutus Payments Account to any of your accounts worldwide. The withdrawal process can take anywhere from a few hours to 5 business days, depending on the withdrawal method used.

Follow the lead of the GIF below to learn how to withdraw funds from your Plutus Payments Account: 

Plutus Payment Account

1. Log in to your Plutus Dashboard

2. Click the 3 vertical dots beside your current account balance

3. Enter your sort code, account number, and give a name to the account. Input your withdrawal amount.

4. Hit 'Confirm Withdrawal'

Boom! Your funds are on the way to your account through the magic that is the internet.

Note: You can only transfer funds to your personal bank account, not external entities. Your Bank Account name must be identical to your Plutus Account in order to enable transferring of funds.

Plutus App

 Withdrawal functionality not available on the app yet

How long does it take to withdraw?

You can transfer money from your Plutus Payment Account using Single Euro Payments Area (SEPA) transfers. The full list of countries within the EU and a few other countries which also support Euro bank transfers can be found here

SEPA transfers may take 1-2 bank business days (once your bank has confirmed the cross-border transaction) as a lot of Euro banks have a cut-off time (the latest moment a bank accepts payments to be executed on that day) in the morning. Usually, most SEPA transfers are credited the next morning if the payment was done before 4–5 PM (if both days are banking days). There are some SEPA holidays that are not public holidays in all SEPA countries.

International wire transfers may take longer. If you're sending funds to another country, it may take up to 5 business days for the recipient to receive the transfer.

What are the limits?

Your Plutus Payment Account does not have a specific limit. However, transactions are monitored and we may request additional information on the source of these funds to comply with money laundering regulations.

Can I send funds to someone else?

No. In order to ensure maximum security of our customer's funds transfers can only be made to your own bank account. Your Bank Account name must be identical to your Plutus Account in order to enable transferring of funds.

How do I know I've received my funds?

Check the external account which you sent your funds to. You should receive your funds within the timeframes outlined above. 

What should I do if I haven’t received my funds?

Please ensure you entered your external account details correctly. If you didn't the transaction will 'bounce back' and you should see the funds return to your Plutus Account shortly.

If you are certain you have entered your external account details correctly and are still experiencing issues, please don't hesitate to get in touch with our support team at support@plutus.it

Can I withdraw funds to any of my bank accounts worldwide?

Yes, please keep in mind that a wire transfer might take up to 5 business days to receive the funds.

My transaction failed. What should I do?

If your transaction has failed then the funds you have sent should be returned to your Plutus Payments Account shortly after. Please check the account details you have entered, ensure they are correct and try again. If your transactions are consistently declined, and you are sure you have entered the details correctly, please get in touch with support at support@plutus.it