How to withdraw via Local Money Transfer (Singapore) — Axi Mobile App

Withdraw funds using Local Money Transfer (Singapore) via the Axi mobile app to a verified Singaporean bank account.

Eligibility & Requirements

1. Available only to residents of Singapore.

2. A verified Singapore bank account is required.

3. Minimum and maximum withdrawal limits apply — displayed in the app. If your request is outside these limits, an error message will appear.

4. A local bank account must be added and verified before it can be selected for withdrawal.

Bank Account Requirements

1. Account Holder Name must match your Axi account name exactly.

2. Account Number: numbers only, no spaces.

3. Bank statement or passbook required: must show your name, account number, and a date within the last 6 months.

4. A bank statement must be an official document issued by your bank or downloaded via online banking. Receipts are not accepted.

5. Accepted bank statement file types: JPEG, PNG, PDF, HEIC. Maximum file size: 6 MB.

Local Money Transfer Withdrawal Rules

If you deposited funds using PayNow, your withdrawals are subject to the Return to Source (RTS) policy.

1. You must withdraw up to your original deposit amount via Local Money Transfer (SGD).

2. If your withdrawal amount is below the minimum withdrawal amount, you may use any other available withdrawal method that supports your withdrawal amount.

3. If you have already exhausted your RTS, you can withdraw your profits using any available payment method.

Steps to Complete Withdrawal

1. Open the Axi mobile app.  

2. Tap Funds in the bottom navigation bar.  

3. Tap Withdraw and choose the trading account you want to withdraw from. 
   Note: Ensure you select the correct account to avoid internal transfer delays.

4. Enter the withdrawal amount and tap Continue

5. Enter the withdrawal amount in the Local Money Transfer (SGD) field and tap Continue.

6. Select your verified bank account or add a new one. To add a new account, click “Add method”, enter the bank details, upload a valid bank statement and click Submit for Review. Verification is usually completed within 24 hours, depending on the validation process.

7. Review all details and tap Withdraw.

Processing Time

Axi processes withdrawal requests within 1–2 business days. Fund receival time may vary depending on your bank.

Important Notes

1. Your balance is adjusted immediately after submitting the request.

2. If the withdrawal is unsuccessful, funds will be returned and Client Services will contact you with the reason and next steps.

See also: How to withdraw via Local Money Transfer (Singapore) — Client Portal

Need help?

See the screenshots below for a visual walkthrough of each step in the withdrawal process. If you’re unsure at any stage, this guide can help clarify the process.