We wanted to let you know about some important changes to the way you can withdraw funds from your Matchday account.
We have been informed by our service provider that they are no longer able to provide fiat withdrawals via wire transfer, starting 23 March 2023. You will still be able to withdraw funds in USDC to your Solana wallet after that.
To facilitate this, withdrawals via wire transfers are now free until 23 March 2023. We understand this may not be an ideal solution for you, but please note that you can still send your USDC to an exchange wallet, such as Coinbase, to cash out. As always, you will need to go through a KYC (know-your-customer) flow before any withdrawals.
Why is Matchday stopping support for fiat withdrawals?
We have recently been informed by our service provider that they are no longer able to provide third-party fiat payment services for (a) US domestic and international wires, and (b) ACH, and are winding the individual services down in a phased manner during March and April 2023.
What is USDC on Solana, and how can I withdraw funds in this currency?
USDC is one of the leading stable coins. 1 USDC is equivalent to 1 USD, and you can transfer it to your local exchange such as Coinbase, where you can then exchange it to your local fiat currency.
Can I still use wire withdrawals to withdraw funds, and how much will it cost?
Wire withdrawals are free till March 23rd, after which we will no longer support it.
Is there any other way to cash out my funds without converting them to USDC on Solana?
Not at the moment, but we are working on other potential solutions, including allowing you to spend your balance.
How can I check the current balance in my Matchday account?
You can check your current balance here: https://matchday.com/account/payments
Will there be any other changes to the Matchday.com platform or services in the near future?
We work with a number of partners to offer a variety of payment options in our Marketplace. We currently do not anticipate any other changes in the near future.
What if I have pending fiat withdrawals that won't be processed by 23 March?
We will ensure that all withdrawals are processed before the deadline.
Are there any restrictions or limitations on the amount of funds I can withdraw in USDC on Solana?
There are no restrictions or limitations.
Is there any risk or disadvantage to withdrawing funds in USDC on Solana instead of fiat?
Solana and USDC are key players in the ecosystem. We encourage you to do your own research about the risks.
Will I need to provide additional information or documentation to withdraw funds in USDC on Solana?
Any Matchday user seeking to withdraw wallet balances will need to go through a KYC (know-your-customer) process, to comply with local regulations. This applies to both fiat or USDC withdrawals.
If you have any other questions or concerns about these changes, please don't hesitate to contact our support team at support.matchday.com.
Thank you for your understanding.
Team Matchday
