1.2. Withdrawing from bank accounts#
Withdrawing is the step where money is moved from a bank account into a GNU Taler wallet. There are two main ways to do this.
1.2.1. Bank integrated withdrawal#
If the bank supports it, you can withdraw money into your GNU Taler wallet directly from your banking app or online banking website. If supported, there should be an option in your online banking to withdraw money to a GNU Taler wallet. The bank should ask for the amount and then generate a QR code that you need to scan with your GNU Taler wallet. Alternatively, if the WebExtension wallet is installed, the bank website may directly switch to the GNU Taler wallet. In the GNU Taler wallet, you may have to first confirm the terms of service of the selected GNU Taler exchange. Afterwards, applicable fees will be shown and you will be given the option to accept the withdrawal. Next, you need to authorize the withdraw operation in the bank. If possible, the GNU Taler wallet may automatically switch to the bank’s website, it is also possible that you have to go back to the banking app explicitly. After authorizing the withdraw operation, you will have to wait a bit for the money to be wired to the exchange. Depending on the banking system, this can take anywhere from a few seconds to many hours. Afterwards, the money will show up in your wallet.
1.2.2. Wallet initiated withdrawal#
In this case, you will start the withdraw process from the GNU Taler wallet. Under “Settings”, you will find a list of exchanges. If the list is empty or does not contain the desired exchange, you may have to first add the exchange by providing the respective URL. The payment service provider operating the exchange service should have such a QR code on their Web site.
Next to the exchange, there is a drop-down menu with an option to “withdraw”. (If you already have money in your wallet, you will also find the same button when viewing the transaction history of the respective currency.) The wallet will ask you to enter the amount to withdraw and accept the terms of service and to pay the applicable fees (if any). Afterwards, the wallet will give you wire instructions, telling you which amount to wire to which bank account. Most importantly, the wallet will give you a wire transfer subject that must be specified for the wire transfer. If you make a typo in the subject, the wallet will not be topped up and the exchange will send the money back to your bank account eventually (possibly minus a fee). Simply make the wire transfer as instructed by the wallet. Once the money has arrived at the exchange, the wallet will automatically withdraw the funds.