Australia: sell crypto and withdraw AUD to your bank (Swyftx)

A plain walkthrough of the steps in Swyftx's own help pages. Screens change, so treat the official pages linked below as the source of truth. This is not financial or tax advice.

Before you start

• If your holdings are in crypto or US dollars, sell them into Australian dollars before you withdraw to your bank. Check that the right base currency is selected before you sell.
• A personal account must withdraw to a personal bank account. Entity accounts (trust, company or SMSF) must withdraw to the bank account tied to that entity. The first time, or for a new bank account, add the bank account before you withdraw.
• If your withdrawals are restricted, you may need to complete account verification first.

1. Sell the crypto

1. In the app: open Quick actions in the toolbar and select Sell, then search for and select the asset you want to sell.
2. Enter an amount or use the slider, select Review order details, then Place order.
3. Quick Buy is the simpler option: pick the asset, open the Sell tab, enter the amount, select Review order, check the amount, asset and fee, then select Sell now.

2. Withdraw to your bank

1. On the web: select Withdraw, then Australian dollars from the list, and pick your bank account. In the app: select your bank account and tap Amount to withdraw.
2. Enter the amount (on the web you can also use the slider), choose a reason for withdrawal, then select Continue on the web or Withdraw in the app to submit.
3. Swyftx says the withdrawal arrives within a minute if your bank uses Osko, otherwise in 2 business days. The minimum is A$4 and the maximum is A$50,000 a day, counting cash and crypto transactions together.

Fees, timing and limits to watch

• Fees: this calculator models the base-tier trading fee (0.6%, lower with higher 30-day volume) with a free AUD withdrawal. Check the fee shown on the review screen before you confirm. Your bank may charge its own fees.
• If funds are sent to the wrong bank account, a dishonour fee of up to $40 may be charged.
• Taxes are not included in any estimate here.

Official sources

• Swyftx: selling crypto
• Swyftx: withdraw Australian dollars
• Swyftx: fees for deposits and withdrawals
• Swyftx: our trading fees