What happens if a wire withdrawal is reversed?
Whenever a crypto brokerage customer creates a wire withdrawal, whether on behalf of themselves or a third party, there's a possibility of an error. In a case where the receiving institution rejects a wire withdrawal:
- The Activity record in the API will show a status of COMPLETED.
- The wire amount, less any fees charged by the receiving institution, will be credited back to the originating profile. Paxos does not charge an additional fee for wire rejections.
- A member of our Technical Support or Ops teams will reach out to you with details about the rejection so you can reconcile your records and correct the withdrawal details.