Withdrawal Requirements
To withdraw from your Kolex Balance, you must first successfully complete your identity check. Once cleared, you will be able to make withdrawal requests immediately. If you have not begun the identity check process, you can get started here.
Your Kolex balance must be a minimum of $50 USD greater than the withdrawal fee, in order for the withdrawal to be processed. We currently only support Wire Transfers but are exploring ACH/Crypto withdrawals.
Please note:
You can only withdraw from the web application, not from the mobile app.
Only one withdrawal request can be made at a time.
Withdrawal Fees
The following processing fees are charged for each withdrawal:
Wire: $15USD per withdrawal
Please note: Wire transfers may incur additional fees from your bank.
Withdrawal Process
Each withdrawal request is reviewed. This allows us to ensure the safety of our community and to be aligned with industry best practices. You will receive a confirmation email as soon as your withdrawal request has been processed.Once your withdrawal has been processed and you have received a confirmation email, the receiving party will need to process the transaction as well. The standard processing time for withdrawals is 10-20 business days.
Please note: This processing time includes a 10 business-day manual lock & review by our team. These are estimates of standard processing times. Please be patient as there have been known processing times of 20-25 business days. If this period has passed, please do contact us stating the wait time and your Kolex account information so we can investigate your case.