Withdrawing Australian Dollars (AUD) from your digital asset account to your local bank is a straightforward process — especially when you're using a trusted platform that supports seamless fiat transactions. If you're based in Australia and looking to move funds from your OKX account to your bank, this guide walks you through every step, including verification requirements, processing times, and common troubleshooting tips.
Whether you're accessing your account via desktop or mobile, we’ll show you how to securely complete an AUD bank transfer with ease.
👉 Learn how to securely transfer AUD to your local bank account in minutes.
Step-by-Step Guide to Withdrawing AUD
On the Web
- Log in to your OKX account at okx.com.
- Navigate to Assets and click on Withdraw.
- Select Australian Dollar (AUD) as your withdrawal currency.
- Choose Bank Transfer (BSB & Account Number) as your withdrawal method.
- Enter the amount you’d like to withdraw and click Next.
- Confirm your withdrawal details on the preview screen.
- Enter your two-factor authentication (2FA) code or SMS verification code.
- Click Withdraw to finalize the transaction.
Once confirmed, your request will be processed, and funds are typically available in your bank account shortly afterward.
In the Mobile App
- Open the OKX app and go to Withdraw.
- Tap Withdraw AUD to begin the process.
- Select Bank Transfer and enter the withdrawal amount.
- Review all transaction details carefully on the confirmation screen.
- Tap Withdraw, then input your 2FA or SMS code to verify and complete the transfer.
The mobile interface is optimized for speed and security, making it easy to manage withdrawals on the go.
👉 Start your first AUD bank transfer with a few taps.
First-Time Withdrawal: Verify Bank Account Ownership
To comply with Australian financial regulations and ensure secure transactions, OKX requires users to verify ownership of their linked bank account during their first AUD withdrawal.
This is done by making a small deposit from your bank account into your OKX account using the same BSB and account number you intend to use for withdrawals. Once the deposit is successfully processed and reflected in your OKX balance, your bank details are automatically verified.
🔐 This one-time step helps prevent fraud and ensures that only authorized accounts can receive funds.
After verification, you can proceed with withdrawals without repeating the deposit process — unless you add a new bank account.
Key Details About AUD Bank Transfers
- Fees: OKX does not charge any fees for AUD withdrawals via bank transfer.
- Processing Time: Most transfers are completed instantly. However, first-time withdrawals may take up to one business day depending on your bank’s processing policies.
- Availability: The AUD bank transfer feature is currently available only to users in Australia.
- Bank Charges: While OKX doesn’t impose fees, your financial institution may apply standard incoming transfer charges. Check with your bank for specifics.
Frequently Asked Questions
Why can’t I see the “Withdraw AUD” option?
The AUD withdrawal function is region-restricted to comply with local regulatory standards. If you're not located in Australia or haven’t completed identity verification (KYC), the option may not appear in your account interface.
Can I withdraw funds while my bank account is being verified?
No. You must complete the verification process — by making a small deposit from your bank to OKX — before initiating any AUD withdrawals.
How do I know if my bank account is verified?
Your bank account is considered verified once a deposit made from that account appears in your OKX balance. You’ll also receive a confirmation notification within the app or website.
How can I check my withdrawal history?
- On desktop: Go to Assets > Withdraw > All Withdrawals
- In the app: Tap Portfolio > Transactions, then filter by Withdrawal type
This lets you track past transfers, statuses, and processing times easily.
Why was my withdrawal rejected by Wise?
Wise (formerly TransferWise) does not support direct transfers from cryptocurrency exchanges. If you're using Wise as your receiving account, consider linking a traditional Australian bank account instead.
Are there limits on AUD withdrawals?
Daily and per-transaction limits may apply based on your verification level and security settings. These are designed to protect your assets and ensure compliance with anti-money laundering (AML) regulations.
Tips for a Smooth Withdrawal Experience
- Always double-check your BSB and account number before confirming a transfer.
- Keep your 2FA app or SMS service active to avoid delays in authorization.
- For large withdrawals, consider splitting them across multiple transactions to stay within limits.
- Monitor your email and notifications for updates on transaction status.
With a streamlined interface, fast processing, and strong compliance measures, withdrawing AUD via bank transfer has never been easier — especially when you're working with a platform built for both beginners and experienced users.
👉 Discover how fast and secure fiat withdrawals can be — try it now.
By following these steps and understanding the verification and transfer process, you maintain full control over your funds while staying compliant with financial regulations. Whether you're cashing out profits or moving money for everyday use, OKX offers a reliable bridge between digital assets and traditional banking in Australia.