Redeem funds is the equivalent of withdrawing funds from your Nova Bank account to an external wallet. You can access the redemption form by simply clicking on the ‘Funds Management > Redeem Funds’ option on the main menu.
Once the form loads, you need to fill all fields with the required information and submit your request.
Please be aware that:
- Redeeming funds is not free and the fee amount will be written somewhere in the redemption form you will submit.
- The destination needs to be an ERC-20 compatible wallet.
- We do not hold responsibility for any information supplied by you and in case you specify the wrong wallet address, once the request is processed, your funds may be lost for good.
- It might take up to 5 business days for your funds to show in your external wallet.
The redemption option cannot be used for payment purposes. So the wallet you specify on the form should be yours.
We are working on a ‘payout’ module that will be available to users soon. It will allow you to process payments to external wallets the same way you make payments to another Nova Bank accounts.