This website uses cookies. By clicking Accept, you consent to the use of cookies. Click Here to learn more about how we use cookies.
Accept
Reject
Help
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 

Withdrawal method error - Adding Wise account

Elianaini
Weekender

‎April 03, 2024 07:55 AM

Hi there!

I added my wise account, but I have to remove it since they are closing it for no reason. So I tried to add my partners account after removing mine but it's showing me a message saying "Withdrawal method error" while trying to add it from Withdrawal method section on the left side menu.

I thought it might had to do with adding 2 Wise accounts not being allowed but the other one is deleted.

Does anyone else have this issue? I dont want to add my paypal account because the fee is too high.

Thanks!

Labels:
0 Likes
1 REPLY 1

CassyL
Administrator
Administrator

‎April 04, 2024 09:29 AM

Hi Eliana @Elianaini, 

Thanks for being a part of the Deel Community ⭐

I can add a little more clarity on the why the withdrawal method is showing an error. Withdrawal methods to third party beneficiaries were disabled in early February, and withdrawals need to be under the Deel account holder's name.

Although third-party private or business accounts will no longer be supported, For Further Credit (FFC) business accounts will continue to be supported, so long as contractors submit one of the following documents:

  • Statement from the account held with the FFC institution
  • Confirmation letter from the FFC institution

There are specific requirements for FFC accounts, so I do recommend reviewing this article on FFC, and the frequently asked questions as well. 

There are additional options for withdrawals though that you might want to explore, including local transfers, Deel Card, and more! 

  • Local Bank Transfers: $0 USD
  • International Transfers / SWIFT: variable fee of $5 USD, capped at a maximum of $10 USD
  • Deel Instant Card Transfer: 0.75% fee (maximum $25) for banks in the United States ; 2% fee (max $15) for all other countries
  • Digital Currency Transfer: 2% service charge plus a flat $1 USD network fee
  • Coinbase: 1.5% (flat charge of $5 USD for USDC withdrawals under $300, then 1.6% fee)
  • PayPal: 2.5% (minimum $0.25 USD)
  • Payoneer: 1% (minimum $12 USD)
  • Revolut: $0 USD
  • Wise (formerly TransferWise): $0 USD
  • Deel Card: $0 USD

More details on withdrawal methods and fees here. 

Hope that helps! 
-Cassy 

0 Likes