How to Withdraw from YourSafe/Bitsafe -Verotel for Less Than a Dollar!

By Admin Team 17918 views 22nd Dec 2020

KinkCoins

How to Withdraw from YourSafe/Bitsafe -Verotel for Less Than a Dollar!

So, you have made some sales and received some KinkCoins from your loyal customers, YAY! Then you request a free withdrawal from ATW/MTW to your YourSafe/Bitsafe account and receive your dollars in YourSafe/Bitsafe. Great!

But then, when you try to withdraw these to your account from YourSafe/Bitsafe you realise that unless you already have an EUR or USD account you will need to pay a large fee (€25) to withdraw your funds which basically wipes out most of your profits. Frustrating right?

Update: If you have a GBP account you can initiate a 'SEPA transfer' directly to your UK bank account (there may be a small conversion fee charged by your bank).

The Solution

Not to worry there is a solution that you will only need to set up once & will only cost 75c per withdrawal.

The Steps required

Create a multi-currency account (Transferwise, Revolut)
Find your EUR Account Number (IBAN) within your account
Log into YourSafe/Bitsafe and select ‘Transfer Money’
Then choose ‘SEPA transfer (EUR)’ and use the EUR IBAN to withdraw directly to your account

Then at this point, you have 2 options to manage your money which include;

Converting from EUR to your desired currency and transferring the funds to your main account
Spend directly with the Free bank card that comes with the account

Why It's Worth The Effort...

We appreciate the effort to set this up initially takes a bit of work but once set up all future payments will be quick & seamless.

It’s important to realise why we have introduced KinkCoins and the benefits it provides for our members. These include;

Stopping accounts being shut down and money seized by Paypal, Stripe, CashApp, and Venmo due to the nature of the business we are in.
Avoiding personal information being exposed using external payment providers. (e.g. Paypal, bank transfer).
Help with restrictions on payment services that are not available in certain countries.

An Added Bonus

You may not know this but Multi-currency cards are super easy to use and will give you a substantially better exchange rate than banks with no hidden fees. So next time you are on holiday you could save yourself some extra money!

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Comments

Forgetmeknot This article should be updated to include which currencies/banks use IBAN - there is not an IBAN number for USD or NZD accounts, which I’ve only found out while trying to transfer out of YourSafe :/

Admin Team @MartaDD No, we can do direct bank transfers now https://www.allthingsworn.com/account/coins/withdrawals

MartaDD Does it mean that I still need to have YouSave account which cost money to have and they charge for every transaction unless it’s between YouSave accounts? 🤔