With NearPay app, you can withdraw your funds to a GBP bank account fast, cheap and secure.

There are two ways of making it:

1st variant (A.K.A. the fastest):

  1. Choose your British Pound account in the Portfolio tab;

  2. Tap on the ⬆️ Withdraw button;

  3. Select the bank account you’d like to withdraw funds to;

  4. Enter the amount;

  5. Tap on the Continue button and confirm the transfer if everything is correct.

2nd variant:

  1. Go to the Transfers (🔁 icon) tab;

  2. Select Withdraw in the Bank section;

  3. Find your British pound account at the bottom and select the bank account where you want to withdraw your funds;

  4. Enter the amount;

  5. Tap on the Continue button and confirm the transfer if everything is correct.

If you haven’t linked a bank account yet, or need to add a new one, do as follows:

  1. Go to your Profile (👤 icon in the upper left corner);

  2. Select Bank accounts;

  3. Tap on the ➕ button in the upper right corner OR on the Add account button, if you link your first bank account;

  4. Enter your bank details;

  5. Tap on the Save button.

Before you can make a bank withdrawal in GBP, you may need to confirm your bank account. To do that, please follow this guide to make a small deposit to your NearPay account. We need it to be sure your GBP bank account is active and belongs to you.

The withdrawals aren’t free, but they cost only 0.09 GBP. The minimum withdrawal amount is 10 GBP. The total withdrawal limit is €15,000 monthly by default. NearPay card loads are also included in this limit. The total withdrawal limit can be increased if you complete an additional verification designed for that specific purpose. You’d need to fill in the Source of Funds declaration, then, once we verify it, proceed with video verification. After that, we will raise the limits according to the provided information. To apply for the Source of Funds form and get additional details about the limits increase procedure, contact our support team via the live chat or at [email protected].

Please note that a single GBP withdrawal can't exceed £250,000 (even if your monthly withdrawal limit exceeds this amount).

All GBP bank withdrawals are processed automatically 24/7.

Common Issues

  • Some banks do not support Faster Payments Scheme, so you may need to check up with your bank or your provider prior to making a deposit, whether they do it or not.

  • If you see the Insufficient balance error when there’s 10 GBP on your account, the thing is, the 10 GBP bottom limit does not include the 0.09 GBP fee. So, you need to have at least 10.09 GBP before you can withdraw.

  • Some banks might also not recognize NearPay’s sort code, as it starts with “0”. This can happen when a bank does not update its Extended Industry Sort Code Directory (EISCD) correctly. It also may happen if they use an old system that does not recognize the 0 at the beginning of the Sort Code. Please enquire with your bank if there is such an issue.
    You can check if the Sort Code you want to send a payment to accepts Faster Payments, by using the sort code checker.

  • Please note that you can’t withdraw funds to any third-party or business bank accounts.

If you have any questions, feel free to contact our Support team in the live chat or at [email protected].

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