To withdraw funds from your Balance, you need to first add your bank account to Xendit. This bank account can be used for both manual withdrawals and Auto-Withdrawals.
After registering a withdrawal account on the Dashboard, you can manually withdraw funds held with Xendit and set up recurring Auto-Withdrawals.
How to add a bank account
From your Balance page:
Go to Balance on your dashboard
Click Withdraw > Add Bank Account
Select Local Bank Account or Overseas Bank Account
Fill in your bank account details (If you’re adding an overseas bank account, you’ll need to upload a Bank Account Proof, such as your bank account statement)
Click Save
From your Settings page:
Go to Settings on your dashboard
Under the Withdrawals section, click Bank Accounts
Click Add Bank Account
Select Local Bank Account or Overseas Bank Account
Fill in your bank account details (If you’re adding an overseas bank account, you’ll need to upload a Bank Account Proof, such as your bank account statement)
Click Save
Adding a local bank account with a different account holder name
If your account holder name does not match your legal company name registered on Xendit, you can click the Edit button next to the “Bank Account Name” field. You’ll then be asked to provide additional details as well as a supporting document to prove the ownership of the bank account. We’ll then verify your details within 2-3 working days.
We’ll approve your request on a case-by-case basis, as illustrated in this table.
Case | Requirements |
|---|---|
Your account holder name is only slightly different from your legal company name | Local and foreign entities Submit your business bank account book or a screenshot of your bank account details on your mobile banking app Local non-incorporated businesses Submit your bank account book or a screenshot of your bank account details on your mobile banking app |
The account holder name is your business’s old name and does not match the business name you registered with Xendit | Local and foreign entities Please submit the bank account book of the business entity and proof of entity’s name change |
The bank account name completely different from your current or old business name/owner name | Local entities Not allowed due to compliance reasons Foreign entities A. Sole proprietorship You may enrol only the sole proprietor’s personal bank account once we have verified your entity type. We will verify again the validity of the following documents you have submitted during onboarding - Corporate Registry Documentation/Business registration certificate and Certificate of Incorporation B. Others Not allowed due to compliance reasons Local non-incorporated businesses You may only add bank accounts that belong to your spouse. Please submit the bank account book of the account holder, valid national ID of the account holder, proof of relationship with the account holder (e.g. marriage certificate, family card), and statement of consent from the account holder (duty stamped letter) |
Set up your bank account from the Balance tab on your Dashboard. Initiate the “Withdraw” process then navigate to “Bank Accounts”.
You’ll be asked to provide some information - documents may be required to validate ownership of the withdrawal account e.g. if the account holder name does not match your registered Xendit business name.
Xendit performs validation of the withdrawal account holder name. If successful, your account will be instantly registered. Otherwise, you will receive the results via email within 2 - 3 working days
You can add multiple withdrawal accounts as long as they meet our requirements, but you can only withdraw to one account at a time.
If you can’t see the “Withdraw” button, check your user permissions - only users with Admin or Withdraw permissions can add withdrawal accounts.
Withdrawal Bank Account Validation
For every registration of a withdrawal account, we validate the account details to ensure withdrawals are made to the right account. We require the withdrawal account to be in the name of the legal entity registered to your Xendit account.
If you do not have a bank account in the name of your registered Xendit entity, exceptions can be considered on a case-by-case basis, as below.
Providing the requirements above does not guarantee that a bank account can be registered - Xendit considers each case independently and reserves the right to reject any case.
You can submit such accounts for registration via the same process mentioned above, as you’ll be automatically asked for documents if we validate that the account holder name differs from your registered legal entity.
Supported account types
Xendit provides flexibility for you to add various types of accounts for withdrawals. Supported accounts include most traditional accounts from financial institutions, such as checking and savings accounts. We can also support virtual bank accounts issued by organizations such as Wise, but on a case-by-case basis.
E-Wallets are not supported.