How to deposit and withdraw USD via Openpayd on Bybit

Bybit now supports USD deposits and withdrawals via Openpayd, giving eligible users a convenient way to fund their accounts and access USD trading pairs using SWIFT bank transfers. With a flat $11 fee per transaction and a maximum deposit limit of $1,000,000, Openpayd is one of the most cost-effective options for moving larger amounts of USD in and out of Bybit.

This guide walks you through the deposit and withdrawal process step by step, covering fees, limits, supported regions, and what to watch out for.

Key Takeaways:

• Bybit supports USD deposits and withdrawals via Openpayd using SWIFT bank transfers, available to KYC- and KYB-verified users in eligible regions.

• A flat $11 fee applies per transaction regardless of amount, making it cheaper than percentage-based methods for larger transfers.

• The name on your bank account must match your Bybit account name exactly; the minimum transfer is $100 and the maximum is $1,000,000.

How to deposit USD via Openpayd on the app

Step 1: Open the Bybit app and go to Assets, then tap Deposit.

Step 2: Select USD as your deposit currency and choose Openpayd (SWIFT) as your payment method. Enter the deposit amount, accept the terms and conditions, and tap Continue.

Step 3: Review the bank transfer details, including the beneficiary name, account number, and unique reference code. Use these details to initiate a SWIFT transfer from your banking app.

Step 4: After submitting your transfer, tap Check order status to track the progress of your deposit.

Step 5: Once your deposit is confirmed, a success screen will display your transaction details.

How to withdraw USD via Openpayd on the app

Step 1: Open the Bybit app and go to Assets, then tap Withdraw.Step 2: Select USD as your withdrawal currency.

Step 3: Select Openpayd (SWIFT) as your withdrawal method. Enter your bank account details and the withdrawal amount.

Step 4: Review your withdrawal details and tap Continue to proceed.

Step 5: Complete 2FA verification and tap Confirm to submit your withdrawal request.

How to deposit USD via Openpayd on the website

Step 1: From the home page, click Deposit Now in the center of the screen, or go to Buy Crypto > Fiat Deposit in the top navigation bar.

Step 2: Choose Fiat Deposit in the top-left corner, and you will be redirected to a new screen where you can fill in the deposit amount.

Step 3: Select Openpayd (SWIFT) as your payment method.

Step 4: Review the bank transfer details, including the beneficiary, account number, and unique reference code. Open your banking app or online banking platform and initiate a SWIFT transfer using those details.

Important: Always include the unique reference code in your transfer instructions so your deposit is correctly matched to your account.

How to withdraw USD via Openpayd on the website

Step 1: From the home page, go to Assets > Withdraw.

Step 2: Select USD as your withdrawal currency.Step 3: Select Openpayd (SWIFT) as your withdrawal method.

Step 4: Complete 2FA verification and confirm your withdrawal.

Fees and limits

Openpayd charges a flat $11 per transaction regardless of the amount transferred. This makes it significantly cheaper than percentage-based deposit methods for larger deposits. The table below shows how Openpayd compares to a typical 0.25% fee structure:

Limits:

• Minimum deposit: $100

• Maximum deposit: $1,000,000

Processing time: Deposits typically take one to three business days via SWIFT. Processing times may vary depending on the sending bank and any correspondent banks involved in the transfer.

Important notes

Before initiating a transfer, keep the following in mind:

1. Name matching is required. The name on your bank account must match the name on your Bybit account exactly. Mismatches can cause processing delays or rejection.

2. KYC and KYB verification required. This service is exclusively available to users who have completed both KYC and KYB verification on Bybit.

3. Always include your reference code. Include the unique reference code from your Bybit deposit screen when initiating the SWIFT transfer. Omitting it can result in processing delays.

4. SWIFT fees from your bank may apply. The $11 fee is charged by Openpayd. Your own bank or intermediary banks may charge additional SWIFT transfer fees on top of this.

5. Service availability varies by region. Access to Openpayd is subject to your jurisdiction and applicable terms and conditions.

Supported regions

Openpayd USD deposits and withdrawals are available to users in the following approved jurisdictions.

EEA countries: Austria, Belgium, Croatia, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden.

Note: Cyprus, Estonia, Bulgaria, Romania, and Latvia are excluded from the EEA approved list.

Other approved jurisdictions: Australia, Bermuda, Canada, Chile, Falkland Islands, French Guiana, South Korea, New Zealand, Singapore, Switzerland, Taiwan, Hong Kong, Israel, Bahrain, Brunei Darussalam, Cayman Islands, Mauritius, Oman, Puerto Rico, San Marino, and others.

If your country is not listed above, Openpayd USD transfers may not be available in your region. Check the Bybit deposit page for the latest availability in your jurisdiction.

The bottom line

Openpayd gives eligible Bybit users a straightforward way to deposit and withdraw USD via SWIFT bank transfers. With a flat $11 fee per transaction, it is one of the most cost-effective methods for larger transfers, especially when compared to percentage-based alternatives. The process takes just a few steps from your Bybit account, and deposits typically arrive within one to three business days.

If you are a KYC- or KYB-verified user in a supported region, Openpayd is worth considering as your go-to method for moving USD in and out of Bybit.

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