Bybit Help Center: Bank Account Guidelines for Crypto Transactions

Understanding Bank Account Requirements on Bybit

When engaging in cryptocurrency transactions on Bybit, your bank account details must align with platform policies to ensure smooth operations and asset security. Below are critical guidelines distilled from Bybit's help center articles:

Key Rules for Bank Account Usage

Name Consistency
- The name on your bank account must match your Bybit registered name exactly. Discrepancies may lead to:
  - Account suspension
  - Permanent asset loss (sellers can refuse transactions)
- Example: If registered as "John Doe," bank transfers must show the same name.
Account Verification
- Mismatched names during Identity Verification will block deposits/withdrawals.
- Supported documents include government-issued IDs (passport, driver’s license).
Transaction Processing
- Withdrawal times vary by currency and method (check Bybit’s Fiat Withdrawal page for estimates).
- Test transfers are prohibited—two attempts disqualify advertisers.

Common Scenarios and Solutions

✅ Buying Crypto via P2P Trading

Ensure the seller’s payment details match your Bybit account name.
Risk: Sellers may cancel transactions if names differ.

✅ Selling Crypto via Bank Card

Supported fiat currencies: NGN (Nigeria) and others.

Required info:

- Full name  
- Country & mobile number  
- Residing address & DOB  
- ID type/number

❌ Web3 Wallet Exceptions

Digital assets in Bybit Web3 wallets are not traditional bank deposits.
No interest accrues on funds unless specified by the platform.

FAQ Section

👉 How long do fiat withdrawals take?
Q: What’s the processing time for bank withdrawals?
A: It depends on the currency (e.g., EUR: 1–3 business days; NGN: instant to 24 hours).

👉 Can I use a joint bank account?
Q: Are joint accounts allowed for Bybit transactions?
A: No—only individually registered accounts matching your Bybit KYC name are permitted.

Q: What happens if my bank account name doesn’t match Bybit’s records?
A: Transactions fail, and repeated mismatches may trigger account review/freezes.

Prohibited Actions

Using others’ accounts for deposits/withdrawals.
Advertising services with unverified financial accounts.

Note: Bybit’s policies prioritize compliance and user protection—always double-check details before transacting!

For further assistance, visit Bybit’s Help Center.