Withdrawals & Deposits on Coinhako

Withdrawals & Deposits on Coinhako

This article contains guides and frequently asked questions about withdrawals, deposits and transfers on Coinhako. 

Withdrawals

How do I add a bank account for withdrawals on Coinhako?

1. Tap on the arrow beside ‘SGD’, then select 'Withdraw'.

2. You can add your bank account by selecting 'Add Bank Account'. If your 2FA has not been set up, you will be prompted to do before you can proceed with adding your bank account.

3. Fill in the details (bank country, bank name, account number and beneficiary name)  of your bank account accordingly and select ‘Confirm’.

4. Your bank account will be added. 

How do I withdraw on Coinhako?

1. Tap on the arrow beside ‘SGD’, then select 'Withdraw'. Refer to the above section if you have not set up a bank account.

2. Select the bank account to which you wish to withdraw your funds.

3. On the next screen:

  • Enter the amount you wish to withdraw

  • Double-check your account details

  • Select 'Preview Withdrawal' to review your withdrawal details 

  • Select “Proceed” when you’re ready


 


4. You will be required to enter the code generated by your 2FA authenticator app and the verification code sent to your email*. After entering both codes, tap ‘Confirm

   


5. Your withdrawal will be processed.

After the request has been submitted, withdrawals may take anywhere from a few minutes up to 5 days, depending on the bank you withdraw from. The timeframe for your withdrawal may be extended during periods of high volume.

If your withdrawal requests were not credited to your account within the stated timeframe, please contact our support team here. Please attach a screenshot of the transaction and its details for us to take a deeper look into the matter.

Deposits


Depositing with a bank account via FAST

Quick tips for smooth and timely deposits

  • Do not include words like Bitcoin/Cryptocurrency/Coinhako for any transfers

  • Do not transfer funds using a bank account that does not match the name on your submitted identity document or

  • Do not make GIRO/ATM, or over-the-counter transfers

1. Tap on the arrow beside ‘SGD’, then select ‘Deposit’. 

2. Under the section ‘Deposit Account Details’, you should find the details you need:

  • Beneficiary name

  • Bank name

  • Account number

  • Unique deposit code

3. Log into your banking app and enter the relevant details to make the transfer. While specific processes may vary for different banking apps, the general guide is as follows:

  • Payee’s name > Refer to Beneficiary Name on your Coinhako App

  • Bank/Organisation > Refer to Bank Name on your Coinhako App

  • Account number. > Refer to Account Number on your Coinhako App

4. Your deposits should be processed. If your deposit requests have not been credited to your account within the stated time frame, please contact our support team here. Remember to attach a screenshot of the transaction and its details to help us expedite the process for you.

Depositing with PayNow

1. On the Superwallet page, select Deposit under SGD

2. Select PayNow

3. On this page, you will see your PayNow deposit details

  • UEN: 201332728RSGD

  • Unique deposit code: Unique to each user and transfer method

  • PayNow QR: Contains the UEN and deposit code unique to each user

4. Save the QR code and upload it to your bank app, or copy and input the UEN and Deposit Code into your banking app to deposit:

DBS/POSB

  1. Launch your DBS/POSB app.

  2. Select ‘PayNow’ and log in.

  3. Select ‘PayNow to UEN’, then enter the UEN copied from your Coinhako app.

  4. Enter the amount and the Deposit Code under ‘Enter UEN/Bill reference No.’, then select ‘Next’. 

  5. Select ‘Transfer Now’.

 

OCBC 

  1. Log in to your OCBC app

  2. Tap on the menu in the top-left of the screen.

  3. Select ‘Transfer and Payment’.

  4. Select UEN and enter the UEN copied from your Coinhako app, then select ‘Hako Technology Pte Ltd’.

  5. Enter the amount and enter the Deposit Code under ‘Add a message’, then select ‘Next;

  6. Confirm that all the information displayed is correct, then slide to complete the transaction. 

UOB

  1. Log in to your UOB app

  2. Tap on the 'Home' icon on the bottom bar

  3. Go to 'PayNow' and select UEN

  4. Enter the UEN, Deposit and the amount

  5. Select ‘Next’

  6. Confirm that all the information displayed is correct, then slide to complete the transaction. 

For PayNow guides for other banks, refer here:


Frequently Asked Questions

What are Transfer Limits?

The daily transfer limits apply to the total value of assets withdrawn in the last 24 hours, whereas the monthly transfer limits apply to the total value of assets withdrawn in the last one-month cycle until now. This means that the monthly transfer limit is NOT reset at the start of each calendar month, but rather after 1 month + 1 day for each withdrawal.

E.g. If you made a withdrawal at 7 AM on 13 November 2022, the monthly limit resets after 7 AM on 14 December 2022. 

What are the Transfer Limits for my Coinhako account?

After your account is verified, you can view your transfer limit via the following methods:

Under the 'Superwallet' tab:
  • Click on the arrow beside ‘Singapore Dollars’, then select ‘Withdraw’. After you’ve selected a bank account, you should see your remaining withdrawal limit.



  • Select a token and click on the 'Send' button. You should see your remaining sending limit



Under the ‘Account’ tab:
  • Select ‘Account Information. You should see your remaining daily and month limit here.

Can I increase my Transfer Limits?

YES, you can! Please contact us here if you wish to increase your transfer limits.

You may need to attach any one of the following Proof of Income document(s) to your ticket:-

  • Latest IRAS Notice of Assessment

  • Latest 12 months CPF contribution History

  • Income tax statement

  • Latest 3 months of salary statement

  • Income declaration to the government agency

  • Income agreement

  • Latest 3 Months' Bank Accounts statement

Notice: Your Proof of Income submission MUST meet the following criteria:

  • Submit in full scanned image or photo, PDF file.

  • Your name, address, and issue date MUST be visible in the document.

  • Document issued must be dated within 3 months.

  • Document must be shown in a full-page view; images showing a part of the document will not be accepted.

  • Screenshots will not be accepted.

How much can I deposit (fiat)?

Technically, Transfer Limits only apply for Fiat or Crypto withdrawals. However, do note the limits for Fiat Deposits:

  • Interbank Transfer
    20,000 SGD per transaction

  • PayNow
    Limits will vary depending on banks 

There are no other limits on deposits.

Does Coinhako charge for PayNow deposits?

Banks in Singapore do not charge for outgoing or incoming PayNow transfers, and Coinhako does not charge any additional fees for PayNow.

How long do PayNow deposits take?

PayNow deposits will typically be processed within 5 minutes, though there may be occasions where banks are down for maintenance, or if your transaction gets checked by the bank. In such cases, it can take anywhere from a few minutes to a couple of hours for the transaction to be processed or refunded.

Which banks are supported for PayNow?

Bank name

Limits

DBS/POSB


  • 1,000 SGD a day (without token)

  • Daily limits vary according to your own bank settings

OCBC


  • 1,000 SGD a day (unsaved recipient)

  • Your own selected daily limit (saved recipient)

  • Cap of 200k SGD per day (300k SGD per day for Premier banking clients)

UOB

  • 5,000 SGD (without adding recipient)

  • Up to user’s account limit (after adding recipient and with digital token approval)


Standard Chartered

  • 1,000 SGD a day (without token)

  • 10,000 SGD a day Manual one-time transfer by typing in UEN and deposit code (with token)

  • 50,000 SGD a day Scan QR (with token)

  • Up to user’s daily FAST limit with the bank - Saved PayNow Recipient


Citibank

  • Up to 10,000 SGD a day (token required for amounts over 1,000 SGD)

GrabPay

  • Maximum of 5,000 SGD a day 

  • Maximum of 30,000 SGD a year

What happens if I do not provide a deposit code for PayNow?

If the deposit code is not provided, the deposit will automatically be refunded within 24 hours, though most refunds should take less than 30 minutes.

What happens if I provide the wrong deposit code for PayNow?

If the deposit code provided is for a different transfer method, the deposit will fail and you will be refunded automatically

If the deposit code provided belongs to another user, the money will be deposited into their account instead of yours.

Does Coinhako support PayNow withdrawals?

Not at the moment, but we’re looking into bringing this feature to you soon.



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