Bybit Bank Transfer+: What it is and how to get started

Moving funds between traditional bank accounts and digital asset platforms can often feel slow, fragmented, and costly. Users may face extra steps, multiple service providers, transfer delays, or unexpected banking fees when moving between fiat and crypto.

Bank Transfer+ is Bybit’s dedicated bank transfer solution designed to make this process smoother. It gives eligible users access to dedicated transfer details, including a virtual IBAN where available, so they can move fiat funds into Bybit and transfer funds out to external bank accounts more efficiently.

With Bank Transfer+, eligible users can add funds via supported bank transfers, convert fiat into supported stablecoins such as USDT or USDC, and transfer funds out by converting supported stablecoins back into fiat.

Bank Transfer+ is currently available to eligible users in supported countries and regions, with availability expected to roll out to more markets over time.

Key Takeaways:

• Bank Transfer+ is Bybit's dedicated bank transfer feature that provides dedicated transfer details, including a virtual IBAN where available, to add funds and transfer funds out through supported banking rails such as SWIFT.

• Users can add funds via supported bank transfers (fiat is converted into USDT or USDC) and transfer funds out by converting stablecoins back into fiat and sending them to an eligible bank account.

• Currently available to eligible VIP 1 and VIP 2 users in supported regions, Bank Transfer+ is expected to expand gradually over time. The service is powered by secure, compliant banking infrastructure through Pave Bank and other trusted partners.

What is Bank Transfer+?

Bank Transfer+ is a dedicated bank transfer feature that connects your external bank account with your Bybit Funding Account. It gives eligible users access to dedicated transfer details, including a virtual IBAN where available, allowing them to move fiat funds into Bybit and transfer funds out to external bank accounts through supported banking rails.

When you add funds through Bank Transfer+, your fiat transfer is processed and automatically converted into supported stablecoins, such as USDT or USDC. The converted amount is then credited to your Bybit Funding Account.

When you transfer funds out, your supported stablecoins are converted into fiat and sent to your selected bank account.

Please note that Bank Transfer+ is not a traditional bank account. It does not provide savings, lending, or interest products.

Who is Bank Transfer+ for?

Bank Transfer+ is designed for eligible users who want a smoother and more structured way to move funds between traditional banking and Bybit.

It may be useful for:

1. Active traders who want to add funds to Bybit through bank transfer

2. Users who want to transfer larger crypto balances into fiat and vice versa

3. Users who need to transfer funds to their own or an eligible third-party bank account

4. Users who prefer a dedicated transfer setup with compliant banking infrastructure

5. Users who want virtual IBAN access inside Bybit, where available

Bank Transfer+ is now accessible across all VIP levels, as well as eligible retail users in select countries and regions.

Availability may vary depending on your account status, region, verification requirements, and internal eligibility checks.

How Bank Transfer+ Works

Adding funds

To add funds, you transfer fiat from an external bank account to your Bank Transfer+ details inside Bybit.Once the transfer is received and processed, the fiat amount is converted into your selected supported stablecoin, such as USDT or USDC, and credited to your Funding Account.

Transferring funds out

To transfer funds out, you select the supported stablecoin amount you want to withdraw from your Funding Account.

Bank Transfer+ converts the stablecoin into fiat and sends the funds to your selected bank account.

You may also be able to add eligible third-party bank accounts as recipients, subject to verification, transaction review, and banking partner requirements.

Bank Transfer+ Use Cases

Bank Transfer+ helps users move between crypto and traditional finance more smoothly.

For example, if you want to add funds to Bybit, you can use your Bank Transfer+ details as the recipient in your external banking app or online banking platform. Once the transfer is received, the funds are converted into USDT or USDC and credited to your Funding Account.

If you want to transfer funds out, you can convert supported stablecoins into fiat and send the funds to your own bank account or to an eligible third-party bank account, where supported.

This can be useful for larger transfers, international USD transfers, or users who want a more direct way to manage fiat and crypto movement from within Bybit.

How to get started with Bank Transfer+

Bank Transfer+ is available through the Bybit App only. Desktop access is not currently supported.

Step 1: Set up Bank Transfer+

Open the Bybit App and go to More from the home page. Then select Buy Crypto.

Choose Bank Transfer+ as your payment method and tap Next to continue.

If you cannot see Bank Transfer+ in your app, the feature may not yet be available for your account or region. Bank Transfer+ is being rolled out gradually, with access expected to expand to more VIP users and eligible users over time.

Select Bank Transfer+ as your payment method, and tap on Next to continue.

Step 2: Complete verification

You may be asked to complete additional verification before using Bank Transfer+.

This may include submitting a valid ID card or passport, Proof of Address, and answering questions related to your employment status, source of funds, source of income, and account purpose. Enhanced Due Diligence information may also be required.

Once all required steps are completed, please review and accept the applicable terms and conditions. Bybit will review your application and notify you by push notification and email once the review is complete.

Step 3: Add funds via Bank Transfer+

On the Buy Crypto page, select Bank Transfer+ as your payment method and tap Next.

On the Add Funds page, choose USDT or USDC from the dropdown menu. Enter the fiat amount you want to transfer to view the estimated amount you may receive after conversion and applicable fees.

Tap See Account Details, then tap Copy All to copy your Bank Transfer+ transfer details.

Log in to your external banking app or online banking platform, add your Bank Transfer+ details as a recipient, and initiate the transfer.

After completing the transfer, return to the Bybit App and tap I Have Transferred the Funds to begin tracking the transaction.

Funds may take up to 5 business days to arrive, depending on the processing time of the sending bank, receiving financial institution, and any intermediary banks involved. Once processed, the converted amount will be credited to your Funding Account.

Note: A fixed fee of $25 applies to each add-funds transaction. Bank fees may also apply. Please ensure all transfer details are accurate before submitting your transfer.

Step 4: Transfer funds out to a Bank account

Go to the Sell tab on the Buy Crypto page, then select Bank Transfer+ as your receiving method. Tap Next.

On the Transfer Out page, enter the amount of USDT or USDC you want to transfer and select the target fiat currency.

You can choose an existing payee or add a new recipient using the required bank transfer details.

Review all details carefully on the confirmation page, then tap Confirm to submit your request.

You will receive a push notification and email once the transfer is completed. Transfer-out requests may take 3–5 business days to settle, depending on the banks and payment networks involved.

Note: Per-transaction, daily, and monthly limits may apply based on your VIP level, account status, and eligibility. Banking partner and intermediary bank fees may also apply.

Step 5: View your transaction history

To view your Bank Transfer+ transaction history, tap the History icon on the Buy Crypto page, then go to the One-Click Buy tab.

You can select an individual transaction to review its details and status.

Important notes

• Bank Transfer+ is not a traditional bank account and does not provide savings, lending, or interest products.

• Transfers may take up to 5 business days, depending on the banks and payment networks involved.

• Fees may vary depending on the transaction type, banking partner, intermediary banks, currency, and transfer route.

• Third-party transfers may be supported, subject to verification, transaction review, and banking partner approval.

• Bank Transfer+ is currently available to eligible VIP 1 and VIP 2 users in supported regions.

• Access is expected to expand gradually to more VIP users and eligible users over time.

• Availability depends on user eligibility, VIP level, region, verification status, and compliance requirements.

The bottom line

Bank Transfer+ gives eligible users a dedicated bank transfer feature inside Bybit, including virtual IBAN access where available.

It helps users add funds, convert fiat into supported stablecoins, transfer funds out to external bank accounts, and manage larger transfers through secure and compliant banking infrastructure.

Currently available to eligible VIP 1 and VIP 2 users in supported regions, Bank Transfer+ is planned to roll out gradually to more VIP users and eligible users over time.

By connecting traditional banking rails with the Bybit ecosystem, Bank Transfer+ offers a more structured and convenient way to move between fiat and crypto.

FAQ

Account Setup & Verification

Q: Why is my Bank Transfer+ application stuck or taking longer than expected?

A: Your application may be under review due to additional compliance or KYC checks. Common reasons include incomplete verification steps (missing Proof of Address, unanswered Survey questions, or pending EDD). You will be notified via push notification and email once the review is complete.

Q: Why was my Bank Transfer+ application rejected?

A: Applications may be rejected if your account does not meet eligibility requirements, verification documents are invalid or unclear, or your region is not currently supported. Please ensure all submitted documents are valid, legible, and match your account information.

Q: Why can't I see Bank Transfer+ in my app?

A: Bank Transfer+ is being rolled out gradually. If you cannot see it, the feature may not yet be available for your VIP level, account status, or region. Access is expected to expand to more users over time.

Add Funds

Q: Why hasn't my deposit arrived after I completed the bank transfer?

A: Transfers may take up to 5 business days. Delays can occur due to processing times at your sending bank, intermediary banks, or the receiving banking partner. Please ensure you used the correct transfer details and included any required reference number.

Q: Why was my inbound transfer returned or rejected?

A: Common reasons include incorrect transfer details, mismatched account name, missing or incorrect payment reference, or the sending bank flagging the transfer for compliance review. Please double-check your Bank Transfer+ details before initiating a transfer.

Transfer Out

Q: Why did my transfer-out request fail?

A: Transfer-out failures can be caused by:

• An unverified or ineligible recipient bank account

• Incorrect beneficiary details (e.g., wrong IBAN, SWIFT code, or beneficiary address entered as the bank's address instead of the actual recipient's address)

• Exceeding your transaction or daily limits

• The recipient bank rejecting the transfer for compliance reasons

• Note: When entering beneficiary details, ensure the beneficiary address is the actual address of the recipient — not the address of the recipient's bank. Using the bank's address instead of the beneficiary's address is a common cause of transfer failure.

Q: Why is my transfer-out still pending after several days?

A: Transfer-out requests typically take 1-5 business days. Delays may occur due to intermediary bank processing, compliance reviews, or banking partner requirements. If the transfer has exceeded 5 business days, please contact Bybit support.

Q: Why can't I add a third-party bank account as a recipient?

A: Third-party bank account transfers are subject to verification, transaction review, and banking partner approval. Your account or the recipient account may not currently meet the eligibility requirements.

Limits & Fees

Q: Why was my transaction blocked due to limits?

A: Per-transaction, daily, and monthly limits apply based on your VIP level, account status, and eligibility. If your transfer exceeds these limits, it will not be processed. Please check your applicable limits in the app.

Q: Are there any hidden fees?

A: A fixed $25 fee applies per add-funds transaction. Additional fees may be charged by your sending bank, intermediary banks, or the receiving banking partner. These are not controlled by Bybit and may not be visible upfront.

#LearnWithBybit