Why is my transaction under review?

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If you're trying to withdraw funds from your Bitso account and your transaction ended up being under review, no worries! In this article, you will learn why it happens and what are the reasons why we do this.

We deeply care about your funds' safety

Putting a transaction under review is a procedure that reinforces the commitment that Bitso has to make your account and funds safe. 

Bitso is the first financial services provider powered by crypto in Latin America that’s internationally regulated. We hold a DLT license granted by the Gibraltar Financial Services Commission (GFSC), one of the most innovative financial regulators in the world. 

We operate under the GFSC’s principles, which include secure custody of funds, high-security standards, and customer support across all countries where we operate. You can check out Bitso's license approval by the GFSC here.

Reasons for transaction review

If your transaction is under review, it means that Bitso is internally ensuring your account is safe and the withdrawal you're trying to make matches all of our safety criteria.

Usually, for crypto withdrawals, the review can last up to 3 hours. The verification process can take less if the transaction was made during working hours on a business day, regardless of the type (fiat or crypto withdrawal).

For weekends or international holidays such as Christmas, the review process can take more time regardless of the withdrawal type, and you'll be notified about the results of the process in the upcoming business day.

Will I know if the transaction was approved or denied?

If you have the app installed and notifications are active, you'll receive a push notification and an email to let you know the result of the process. If you don't have notifications enabled, you'll still receive an email informing you whether the transaction was approved or denied. 

While you wait for us to review your transaction, you can use your Bitso account normally, either via the app or the web.

What if I want to cancel the transaction?

If you change your mind and want to cancel the transaction, it is possible to do so during the review process. In the Bitso App, you can go to Activity and tap on the transaction under review. Then, you can select the "Cancel transaction" option.

If you're using the web, this process can be done the same way via Activity History. Withdrawals can't be undone after they are approved. If you have any questions, please contact our Customer Support team

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