Yes, you can withdraw money from Coinbase to your bank account
Coinbase lets you move money out to a bank account you own. The process takes a few days, costs nothing, and works the same way whether you're moving money from cryptocurrency you sold or from cash you deposited. You'll need your bank's routing number and your account number, and Coinbase will ask you to verify the account before the first withdrawal goes through.
The speed depends on your bank. Most withdrawals land in your account within 1 to 5 business days. Some banks are faster; some take longer. Coinbase shows you an estimate when you start the withdrawal, so you'll know what to expect before you confirm.
Key Takeaways
- Withdrawals from Coinbase to your bank account are free and take 1 to 5 business days depending on your bank.
- You must link your bank account to Coinbase first, and Coinbase will verify it with two small deposits before you can withdraw.
- Coinbase will ask for your bank's routing number and your account number — the same information you'd give any other service.
- Withdrawals of cash you deposited work the same way as withdrawals from money you made selling cryptocurrency.
How to link your bank account to Coinbase
Go to your Coinbase account settings and find the "Payment methods" or "Linked accounts" section — the exact name varies depending on whether you're using the website or the app. Select "Add a payment method" and choose "Bank account". Coinbase will ask for your bank's routing number, your account number, and the account holder's name.
After you enter this information, Coinbase sends two small deposits to your bank account — usually $0.01 and $0.02, or similar amounts. These deposits appear in your bank account within a few business days. You then go back to Coinbase and enter the two amounts to confirm you received them. This verification step proves you own the account.
Once verified, your bank account is linked and you can withdraw. If you skip the verification step, Coinbase will not let you move money out.
The withdrawal process, step by step
Open Coinbase and go to the "Withdraw" or "Send" section. Select your linked bank account as the destination. Enter the amount you want to withdraw — Coinbase shows your available balance, so you cannot accidentally try to withdraw more than you have.
Coinbase displays an estimated arrival date based on your bank's processing speed. Review this date, then confirm the withdrawal. You'll receive a confirmation number. The money leaves Coinbase when ready, but your bank controls when it lands in your account.
You can check the status of your withdrawal in Coinbase's transaction history. Once it shows as "completed" on Coinbase's end, it's in your bank's system — but your bank may take another day or two to post it to your account.
Why withdrawals take time
Coinbase and your bank are separate organizations. Coinbase processes your request and sends the money to your bank's system, but your bank then has to verify the transaction, check for fraud, and post the money to your account. This is the same process that happens when anyone sends you money through a bank transfer.
Weekends and bank holidays add time. A withdrawal you request on Friday afternoon might not arrive until the following Tuesday or Wednesday. Coinbase's estimate accounts for this, so the date it shows you should be realistic.
What information you need before you start
Have your bank account number and your bank's routing number ready. Your account number is usually on the bottom left of your checks, or you can find it in your bank's app or website. Your routing number is a nine-digit code specific to your bank — your bank's website has it, or you can call and ask.
You'll also need the name on your bank account. Coinbase requires that the name match the name on your Coinbase account, so if your bank account is under a different name, you cannot link it.
Withdrawals from sold cryptocurrency versus deposited cash
It does not matter whether the money in your Coinbase account came from selling cryptocurrency or from depositing cash. The withdrawal process is identical. You select your bank account, enter an amount, and wait for it to arrive.
If you sold cryptocurrency at a gain, Coinbase does not withhold taxes from the withdrawal. You are responsible for reporting the sale to the IRS on your tax return. Coinbase sends you a record of your transactions at the end of the year, which you can use when filing.
What to do if your withdrawal is delayed
Check Coinbase first. Log in and look at your transaction history to confirm the withdrawal shows as "completed" on Coinbase's side. If it does, the delay is at your bank, not Coinbase.
Contact your bank if the money has not arrived by the date Coinbase estimated. Give them the confirmation number from Coinbase and the date you requested the withdrawal. Your bank can trace the transfer and tell you where it is.
If Coinbase shows the withdrawal as "pending" or "processing" after several days, contact Coinbase support through the app or website. This is rare, but it can happen if there's a technical issue on Coinbase's end.
Frequently Asked Questions
Do I have to verify my bank account before I can withdraw?
Yes. Coinbase sends two small test deposits to your account, and you have to confirm the amounts before your first withdrawal. This usually takes 3 to 5 business days. After that, you can withdraw whenever you want without repeating the verification.
Can I withdraw to a bank account that is not in my name?
No. Coinbase requires the account holder's name to match your Coinbase account name. If you want to move money to someone else's account, you would have to withdraw to your own account first, then transfer from your bank to theirs separately.
Is there a fee to withdraw from Coinbase to my bank?
No, Coinbase does not charge a fee for bank withdrawals. Your bank might charge a fee for receiving transfers, but most banks do not charge for incoming transfers. Check with your bank if you're unsure.
What if I enter the wrong bank account number?
Coinbase will reject the withdrawal if the account number does not match the routing number you provided, or if the account does not exist. If you link the wrong account by mistake, delete it from your payment methods and add the correct one instead.
Can I withdraw the same day I deposit money?
No. Money you deposit to Coinbase takes several days to arrive, and Coinbase holds it for a period before you can withdraw it. The exact hold time depends on your bank and Coinbase's policies at the time. Coinbase shows you when the money will be available to withdraw.