This Video is to guide you to deposit fiat currency in our AAX account via bank transfer and you will also learn how to exchange fiat to crypto.
Details of handling fees for deposit and withdrawal of Fiat currency:
（Please be advised that there might be a bank transfer fee involved for fiat deposits and withdrawals. The fees are charged according to the corresponding banks’ policy. ）
Deposit and Withdrawal Terms
- We require a minimum of 48 working hours to process fiat deposits into and withdrawals from into and from your AAX Account as these times depend on processing times by banks and our partners. Deposits and withdrawals on weekends and public holidays may be affected so please plan accordingly.
- Additional bank amounts may be levied on the amount s deposited or withdrawn. Please check with your bank
- While there is no limit on deposit of fiat, exchange of fiat into digital assets using the ‘Exchange’ may be subject to availability of specific digital assets.
- You may be required to produce additional information and documentation by the bank in accordance with their KYC policies and procedures.
- If it is lower than the minimum deposit or withdrawal amount of fiat currency, AAX reserves the right not to carry out any active operations.
After logging in to the App, enter the asset details page, select the fiat account, you can view the details of each fiat currency, select the corresponding fiat currency to enter the details page and select deposit or withdraw.
In the next part, we will introduce the process of depositing and withdrawing fiat currency in detail.
Deposit Fiat currency
1. After entering the deposit fiat currency details page, enter your fiat currency deposit amount (the system will automatically display the handling fee that needs to be deducted and display the actual amount to the account), and click "Next, get the receiving account info" button
2. Follow the instructions on the page to transfer the fiat currency to the designated AAX bank account
1）The currency of the transferred fiat currency must be the same as the currency of your choice. As shown in the figure, for USD deposit, you need to transfer USD to AAX bank account
2）When making a bank transfer, your "Reference Number" in the receiving bank account information must also be filled in.
3. After the transfer is completed, the transfer voucher can be retained by means of screenshots, etc. The transfer voucher must include information such as [remittance amount, remittance number, beneficiary account number, beneficiary name, remitter name], and finally click " Next " button
Please use a bank account with the same name as your AAX account for the transfer. If they are inconsistent, your deposit application will be rejected.
4. Upload the transfer voucher picture (the complete payer’s account number and the payee’s account number need to be displayed), and click "Notice to AAX" button
If you have multiple transfers of the same fiat currency, please notify AAX separately for each fund
5. After you click Submit, the system will pop up a "Deposit Application Submitted Successfully" prompt. The estimated arrival time is only for your reference. You will receive a notification reminder from the platform after the funds deposit have actually arrived in your AAX account. Click "Funds History" "Button to view the progress details of the deposit funds
6. After the approval is passed, the status in the fund history will be displayed as "Funds received", and the fiat currency balance of the corresponding deposit fiat currency can be viewed in the fiat account
7. If you need to cancel the fiat currency deposit application, you need to click the "Cancel" button (it cannot be cancelled if it is not displayed), and the fiat currency payment will be returned to your payment account in real time after submission
8. If the deposit application is rejected, you can click "Details" to view the reason for rejection, and you can deposit the fiat currency after checking the reason
Withdraw fiat currency
1. After entering the withdrawing fiat currency details page, follow the prompts on the page to enter the payee address, bank account number, bank name, bank address and SWIFT code, enter the cash withdrawal amount and payment password and click the "Confirm withdrawal" button
The name of the cardholder who withdraws to the bank account must be the same as the AAX real name, and the withdrawal amount must fulfil the minimum withdrawal amount (for details, please refer to the table at the top of this article). The actual amount received is the withdrawal amount minus the handling fee amount
2. After the withdrawal application is submitted successfully, the system will pop up the "Withdraw application submitted successfully" prompt, and the processed withdrawal funds will be displayed as frozen. Please refer to the estimated time of due date. The funds withdraw actually arrive in the bank account then you will receive a notification reminder from AAX. Click the "Funds History" button to view the details of the progress of the withdrawal of funds
Please ensure that the information you fill in is true and valid. If the verified information is invalid, your application for withdrawal will be rejected. Please be aware
3. After the verify is passed, the status in the transaction record will be displayed as "Funds received", put it into the fiat account to view the fiat currency balance corresponding to the extracted fiat currency
4. If you need to cancel the fiat currency withdrawal application, you need to click the "Cancel" button (it cannot be cancelled if it is not displayed), and the fiat currency payment and withdrawal fee will be returned to your AAX fiat currency account in real time after submission
5. If the withdrawal application is rejected, you can click "Details" to view the reason for rejection, and you can check the reason and then withdraw the fiat currency again