How to withdraw from GrabrFi to local currency with Airtm
Looking to withdraw US dollars from your GrabrFi account to local currency? Here’s a step by step guide about how to do this with Airtm.
1. Buy USDC (USD stablecoins) with US dollars by sending a bank transfer from GrabrFi.
2. Sell your USD stablecoins for local currency and withdraw them to your local bank account.
What is Airtm?
On Airtm, you can open an account in USDC (USD stablecoins) that lets you receive, send and withdraw money and buy and sell USDC. A peer-to-peer network of verified people (called cashiers) help with the transactions. Airtm has been in business since 2015.
1. Buy USDC (USD stablecoins) with US dollars by sending a bank transfer from GrabrFi.
1a. If you already have an account on Airtm, you can login by entering your email and password or by logging in with Google, Facebook or Apple.
1b. If you don’t have an account on Airtm yet, you can create one for free.
Select your country of residence and the type of account you want to open.
Enter your email, a password, your first name and last name, and make a security check.
You will receive an email to your inbox to verify your email address. Your Airtm account is created and ready to go!
2. Now you’re ready to buy USD stablecoins.
In the main screen you will see a section with different types of transactions. Select the option "Add".
In the “Add funds” section, select "More payment methods".
3. Select the option “Bank” and in the search, enter “United States" and select “United States Bank”.
4. On the left, enter the amount in US dollars you want to send from your GrabrFi account. On the right you can see the amount of USDc you will receive. Below you’ll see the commission and service fee for buying USDC.
Note: With a new account, the maximum amount per transaction is $211.09 USD or 200 USDC. Afterwards, this amount goes up to $2093.92 USD or 2000 USDC.
5. Click “Continue” and enter your GrabrFi account details. in the "Bank Name" option, choose "other US bank" and then type "Lineage Bank - Synapse"
6. Double check to make sure the information is correct and submit the request.
7. Airtm will connect you to a cashier, a verified person who helps with transactions.
8. Once your request is accepted by a cashier, you can view the profile of the person who’s helping with your transaction and contact them if you have any questions.
9. View the account details of your cashier and open GrabrFi to make the bank transfer.
10. Have any questions about making a bank transfer? View our FAQ article about how can I make a bank transfer?
11. When you have completed the bank transfer on GrabrFi, copy the reference ID and paste it to Airtm to confirm you sent the money to your cashier.
12. Once the cashier receives the transfer, they will release the USDC to your account and you’ll see them available on your Airtm home screen.
2. Sell your USDC for local currency and withdraw them to your local bank account.
1. With the USDC in your account, click on the “Withdraw” option on the Airtm home page.
Select your preferred payment method on the left and enter the amount of USDc you want to withdraw on the right. You will be able to explore the different withdrawal options and the costs of each.
3. Pick the best option for you, and withdraw your money to local currency.
