Wire transfer option for withdrawals over $10,000
If you want to withdraw more than $10,000 to your bank account from Shakepay, you can use our wire transfer feature.
Note: The minimum amount for wire cashout requests is $10,000, and is available to all fully verified accounts!
Step 1: Link a bank account to Shakepay
From the main page of the app click on "Send" and then select "Wire Transfer to my bank"
Select, "Manage bank accounts" and then "Link a bank account"
You will be asked to enter your bank account details
Review the information is correct and select “Confirm”
Step 2: Create a wire request
From the main page of the app click on the "Send" tab and then select "Wire transfer"
Select the bank account you wish to wire transfer to
Enter the amount of CAD you wish to withdraw and select "Continue"
Review the amount and bank account information is correct and select "Confirm"
I finished creating my wire cashout request, what's next?
Your request will be processed by our team, and you can review the status of your withdrawal in the “Pending Wire Cashouts”, and “Past Wire Cashouts” lists, found on the same screen you just sent from!
Please note, your bank may charge you for receiving a wire transfer.
Note: You can also withdraw funds via e-Transfer for up to $10,000 per transaction and withdraw multiple times a day and in most cases, and is a much faster process to withdraw funds back to your bank account.
If you have any questions about the wire withdrawal process, or would like to inquire about the status of your wire cashout request, please do not hesitate to reach out to our Customer Support Team through the app and we will be happy to help!
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