What happens if I withdrew euro to a closed bank account?

Summary: This article explains what happens if you accidentally make a withdrawal to a bank account that no longer exists. It covers how the bank typically handles this situation, what actions you should take, and what to do if the funds are not returned within five days.

If you've accidentally made a withdrawal to a bank account that no longer exists, don't worry. Usually, the bank will automatically return the funds to Bitvavo. Once Bitvavo receives the returned funds, they will be credited back to your Bitvavo account.

Step-by-Step Instructions:

1. Leave the Old Bank Account Linked:
   Ensure that the bank account which no longer exists remains linked to your Bitvavo account until the return process is complete. This ensures that the funds can be correctly associated with your account.

2. Wait for the Refund:
   The bank usually processes the return of funds automatically. Once Bitvavo receives the funds, they will be added back to your Bitvavo account.

3. Withdraw to a New Bank Account:
   Once the funds have been credited back to your Bitvavo account, you can withdraw them to a different bank account. If you haven't linked a new bank account to your Bitvavo account yet, you'll need to do so first by depositing at least €1 from your new bank account.