Withdrawal approvals
Your guide on how to create withdrawal approval rules and approve pending withdrawals
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Your guide on how to create withdrawal approval rules and approve pending withdrawals
Last updated
Was this helpful?
Withdrawal approvals by default cover only user requested withdrawals, to add coverage of withdrawals requested via API make sure to check the "Include API Request" slider.
To configure Withdrawal approvals you have to first create an approval rule. Add approval rule
Navigate to the Withdrawal approvals section in dashboard
Enter a EUR equivalence amount - This is a minimum threshold amount above which every withdrawal request will first need to be approved
Add Users to the approval rule - Users have to already be registered to your organisation and you can select multiple users to be added from the list in any single rule
Enter your 2FA code
Managing approval rules
Once you create your first rule all crypto withdrawal that fall below the rule threshold won't need any approvals.
All the crypto withdrawals that exceed the rule threshold will need approval.
Withdrawal rules allow for editing, meaning after creation the list of approvers or the threshold can still be changed.
You must always have at least one approver per rule
As seen in the screenshot above, if multiple rules exist, they create a tiered approval strategy with each tier requiring its own approvers.
For example, you can configure the system as follows:
No approval is required for crypto withdrawals with value less than 50 000 EUR
Crypto withdrawals with value between 50 000 EUR and 100 000 EUR can be approved by Team members A or C
Crypto withdrawals with value above 100 000 EUR can be approved only by Team member B (who can also approve lower amounts between 50 000 and 100 000 EUR as well)
Approving and Declining a crypto withdrawal
Withdrawals that are waiting for approval, can be found in the same Withdrawal approvals menu, just below the rules section. To approve a withdrawal click the View (magnifying glass) button, located in the same role as the withdrawal you want to process. The Approve and Decline buttons are at the bottom of the newly opened details window.
If the creator of the withdrawal spots a mistake in the data filled, he has the option to delete it before it is approved or declined. This can be achieved by finding the withdrawal within the list of withdrawal that are waiting for approval, clicking the View button and clicking the Delete button.
