Published on 30 October 2021
Updated on 03 November 2021
Great news! Liquid now supports SGD deposits and withdrawals via StraitsX which allow faster and simpler transactions with low transfer fees.
Who can use StraitsX on Liquid?
Liquid users who reside in Singapore and have all three:
Residence-based ID documents issued by the Government of Singapore;
A Singapore phone number; and
A Singapore bank account (FAST network).
The withdrawal process is simple, please follow the steps below:
1. Choose StraitsX as your Withdrawal Method
Navigate to https://app.liquid.com/vision and login to your Liquid account. Click ‘Withdrawal’ at the top right corner of your screen and search for SGD in ‘Currencies’. Then, select StraitsX.
2. Connect your StraitsX account to your Liquid account
Your StraitsX account must already be connected to your Liquid account. Please follow the instructions here to connect your StraitsX account to Liquid.
3. Withdraw your fund to your bank account
3.1. Choose the bank account where you want to withdraw your funds to. Click ‘Manage Bank Accounts' to view all the bank accounts that have been linked with StraitsX and its status.
'Confirmed' means the bank account has been verified by the StraitsX team; while
'Pending' means the StraitsX team is in the process of verifying it.
You can only withdraw SGD via StraitsX to your linked bank account with Confirmed status. If the bank account is still in 'Pending' status, you can make a minimal deposit from that bank account to your StraitsX virtual account so StraitsX team can verify it.
To add a new bank account with StraitsX, click 'Register New Bank Account.'
3.2. Input the withdrawal amount.
The minimum withdrawal amount is 10 SGD and maximum is 20,000 SGD per transaction. You can submit multiple transactions per day as long as it stays under your daily fiat withdrawal limit.
A fee of 0.55%, with a minimum of 4 SGD and a maximum of 30 SGD, will be deducted from your withdrawal amount.
3.3. Input the 2-Factor Verification Code and click 'Confirm' to process your withdrawal.
Funds are usually received within 2 hours. However, it may take up to 3 working days depending on your bank.
Need help? Please contact our Customer Support team for assistance.