AlertPay opens the door to a lot of opportunities on the internet. You can accept AlertPay as a means of payment for your goods and services. You can also receive money from friends and family via AlertPay once you have an email address, whether or not you have an AlertPay account. After receiving funds via AlertPay the next logical question is how do you withdraw your funds? AlertPay offers a number of ways of withdrawing funds from your e-wallet. You can withdraw from your AlertPay account directly or use the services of independent e-currency exchangers. Here we will discuss ways of withdrawing your AlertPay account.
Note that if you were sent some money via AlertPay to your email and you do not have an AlertPay account, you will need to follow the link in the email notification of payment to Open a free AlertPay account first.
Withdrawing funds to your e-wallet
Like in funding your e-wallet, AlertPay allows account holders to withdraw from their e-wallet directly or through the services of independent e-currency exchangers. Options available for directly withdrawing funds from your AlertPay account in most countries include cheque, bank wire, credit/debit card. AlertPay also support direct local bank withdrawal in a number of countries. Local bank withdrawal is not currently available in Nigeria.
Withdrawing AlertPay with cheque
You can request a cheque from AlertPay limited to your e-wallet balance. The minimum value to be requested from AlertPay via cheque is 20 USD. AlertPay will charge you 4 USD for processing your transaction. Note that this figure does not include service charge by your local bank. It will take about 15 business day to clear a USD cheque in Nigeria. AlertPay only sends USD denominated cheques.
Withdrawing funds from your AlertPay e-wallet via cheques may be too costly if you are withdrawing a small amount of money. Personally, I will not withdraw less than 200 USD via cheque. Also cheques take some time to get to you and even longer time to clear, so it is not the recommended choice if you want to cash your funds fast. Check makes a lot of sense if you want to withdraw a large amount of fund from your AlertPay e-wallet. To withdraw funds via cheque, click on check in the withdrawal area at the AlertPay website. Then fill in the form.
Withdrawing funds via bank wire
AlertPay supports withdrawals of your funds through a bank wire, which will take three to four business days. AlertPay charges around 15 USD for withdrawals via bank wire, which is quite high if you are withdrawing a small amount of funds. So if you are withdrawing a small amount of fund from your AlertPay e-wallet, it might not be the most cost effective approach for withdrawing your funds.
Withdrawing funds to your credit card
If you add a debit/credit card (Visa/MasterCard) to your AlertPay account, you can also withdraw funds from your AlertPay e-wallet to your credit/debit card. This approach costs 5 USD and will take two to four business days. This a great approach if you do not need cash. The fund transferred to your credit/debit card can be used to shop online or buy at thousands of stores with PoS. You may also be able to cash funds from your card at an ATM.
withdraw AlertPay with e-currency exchangers
When withdrawing small amount of funds from an AlertPay account, using the services of an e-currency exchanger may be the most cost effective approach. It may even be faster in some cases. AlertPay currently has six recognised exchangers and advises you to use only their services. Unfortunately most of these e-currency exchangers may not directly deposit funds to your local bank account in most countries (like Nigeria) in exchange for your AlertPay funds. Most of them will only exchange your AlertPay to another e-currency.
To withdraw funds from your AlertPay account with an e-currency exchanger that does not directly deposit funds to local banks in your country, you should just use the service of the exchanger to exchange your AlertPay funds to an e-currency accepted by a recognised e-currency exchanger in your country that offer direct cash deposit. The route that account holders in Nigeria normally follow to withdraw funds from AlertPay is to use the services of one of the six recognised AlertPay exchangers to convert their AlertPay funds to Liberty Reserve and then using the service of a recognised Liberty Reserve exchanger to exchange Liberty Reserve to Naira deposit at their local bank in Nigeria. This requires that you open a Liberty Reserve account. This is not a problem since opening a Liberty Reserve account is free and will take only a few minutes to open one.
Withdrawing funds directly
This method will enable you receive funds directly at your local bank. This is the best approach for withdrawing from your AlertPay e-wallet if supported in your country. However, AlertPay supports direct bank deposit to your local bank account in about 46 countries. Nigeria is not one of those countries.
Need more information? Visit the AlertPay website for more information.
- AlertPay website
- AlertPay FAQ page
- Shopping with AlertPay
- AlertPay Transaction fees
- Guide to accepting AlertPay online
- AlertPay Recommended Shopping Carts