RECUR Balances Available for Cash Out in U.S. Today
In early December 2021, RECUR hosted the Pass sale for 24 hours, and welcomed tens of thousands of participants to the RECUR community becoming true OGs, hodlers and dedicated fans.
Since then the RECUR team has been hustling and working hard to create, plan, and build a robust system for existing fans and newcomers alike to buy, collect and sell digital collectibles across chains and experiences.
We have BIG plans for 2022 as the NFT ecosystem continues its rapid growth, but to kick-off the year, we’re introducing a crucial feature we’ve all been looking forward to…The ability to cash out your RECUR Balance is rolling out now!
As of today, if your bank account is in the USA 🇺🇸, you can cash out funds from your RECUR Balance using a wire transfer. Support for 50+ additional countries is coming, timeframe and details are addressed later in this announcement.
To get started, click your profile avatar to activate the dropdown menu. Select Wallet and you’ll see your full account with a new option to Cash Out available in the right hand menu tiles.
Please keep in mind that there is a standard $25 bank fee associated with all wire transfers.
For example: if you attempt to cash out $1,000 from your RECUR balance, you will successfully receive $975 in your account. In certain cases, your bank may charge additional fees (to learn more about your bank’s fee schedule, please see this article).
In order to begin the cash out process, you will need to get your account verified by going through the RECUR verification process. Learn everything there is to know about the cash out process in this article.
Support for Canada 🇨🇦 is coming very soon. This feature is in testing and soon our friends north of the U.S. border will also be able to cash out from their accounts via wire transfer.
After the U.S. and Canada we’ll be providing support for more international countries in phases. We’ll periodically update you on our progress and you can refer to the Support article on available Payment Methods and Supported Countries article.
While wire transfer cash outs for 50+ countries are coming, we’re a crypto focused organization so we should also support crypto cashout… right?
Additionally, the ability to cash out your RECUR balance in USDC to an external wallet is planned for later in 2022. While our team has been focused on shipping cashing out to banks, NFT withdrawals and deposits, and the launch of the first brand experiences, we understand that on-chain access to your RECUR balance is a top requested feature and we are excited to share more with you in the coming months.
Our next major release plans also include the ability to withdraw NFTs off of the RECUR platform to external wallets on Ethereum Layer 1 and Polygon, as well as the ability to deposit RECUR NFTs back into the platform. We will be sharing more information about how cross-chain withdrawals and deposits work under the hood as we approach feature launch.
Last, but not least!
We’ve removed the payment cap for debit and credit cards on transactions across RECUR experiences. If you’re experiencing an issue processing a transaction with your credit card, please try contacting your bank.
Although there are no longer payment caps for debit and credit transactions, please remember that your banks retain the authority to block transactions and may do so at times.
If you have any issues with processing your payment, as always you can file a ticket here or reach out to our Support Team on Discord.
Thank you Fans, Friends and OGs! 🚀
We’re focused on building the best product for our community. This is just the beginning of what’s to come.
Features, events, community support and more. RECUR is here to bridge the gap between fans, brands and the characters we all love.
Stay tuned, we’re still building.
– The RECUR team