Bank Transfer + is Bybit's global fiat account solution, designed to help users efficiently manage and transfer large amounts of fiat currency within the Bybit ecosystem. It connects your bank account with your crypto assets, allowing you to move funds seamlessly between fiat and digital assets.
Key Benefits
- Seamless fiat–crypto integration: Easily move funds between fiat currencies and digital assets via SWIFT.
- Flexible payments: Transfer funds to your own or a third-party bank account, and send or receive USD internationally.
- Simplified fund management: Manage your fiat balances directly within the Bybit ecosystem without relying on multiple platforms.
- Secure fiat access: Access compliant fiat services through a trusted banking gateway.
Who Is Bank Transfer + For
Bank Transfer + is designed for users who need to move funds between crypto and fiat smoothly and securely, including:
- Active traders cashing out profits: Those who want to convert large amounts of crypto into fiat and transfer funds to a traditional bank in a controlled manner.
- High-volume users and VIPs: Those with frequent or high-value fiat transfer needs.
- Compliance-focused users: Those who prioritize security and regulatory compliance when managing their funds.
How Bank Transfer + Works
Bank Transfer + acts as a bridge between your personal bank account and your Bybit account. It allows you to open a bank account with a virtual IBAN in your own name and to deposit or withdraw funds via the SWIFT network.
Add funds to your Bybit account (fiat on-ramp)
Transfer fiat currency from your personal bank account to your Bybit account. Once the funds are received, they will be automatically converted into your selected stablecoin (USDT or USDC) and credited to your Funding Account, where they are ready for trading or other uses.
Transfer stablecoins to your bank account (crypto off-ramp)
Convert stablecoins (USDT or USDC) in your Funding Account into fiat currency. The converted funds will then be transferred to an external bank account. The recipient account does not need to belong to you, allowing you to make payments to third parties if needed.
Use Cases
Example 1: Transferring funds to a third-party account
Imagine you're a professional trader who needs to quickly deploy capital from your trading profits to settle a high-value external obligation, such as paying a business partner or investing in a private fund. Traditionally, this would involve multiple steps, including manually converting crypto to fiat and withdrawing funds to your personal bank account — often resulting in delays or transfer limits.
With Bank Transfer +, you can add a third-party bank account directly as a beneficiary. The system automatically converts your USDT or USDC into the required fiat currency and transfers the funds through regulated banking partners.
With a compliance-ready framework and support for high-value transfers, Bank Transfer + enables secure and efficient fund transfers, helping reduce the bottlenecks typically associated with retail banking.
Example 2: Paying for a large purchase
Imagine you're purchasing a car, but your funds are held as stablecoins in your Funding Account. You can add the dealer's bank account as a beneficiary under Bank Transfer +.
Bank Transfer + will convert your USDT or USDC into USD and transfer the funds directly to the dealer, allowing you to complete the payment without first withdrawing to your own bank account.
Notes:
— Bank Transfer + is a bridge service, not a traditional bank. It does not offer savings, lending, or interest-bearing services.
— Transfers may take up to 5 business days to arrive, depending on your bank's processing time.
— Service fees may be charged by the sending bank or any intermediary banks involved in the transfer.
To learn more about Bank Transfer +, refer to the following articles: