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Frequently asked questions
Withdrawals and Refunds to Bank Accounts Outside the EU/EEA
TWINO is updating its withdrawal and refund conditions for bank accounts that are not registered in the European Union or European Economic Area (EU/EEA), or do not support SEPA EUR payments.
For the purpose of these conditions, an EU/EEA SEPA account means a payment account opened with a credit institution, electronic money institution, or payment institution registered in an EU/EEA member state and supporting EUR payments within SEPA.
A fixed fee of €35 applies to each withdrawal or refund processed to a bank account that does not qualify as an EU/EEA SEPA account. In addition, the minimum withdrawal amount for such withdrawals is €50.
This includes bank accounts located in countries outside the EU/EEA, such as the United Kingdom and Switzerland, even if they may support SEPA payments.
How can I avoid the €35 fee?
You can avoid the €35 fee by changing your payout bank account to an EU/EEA SEPA account.
Open or use an existing bank account with a bank, electronic money institution, or payment institution registered in the EU/EEA.
Make sure the bank account supports SEPA EUR payments.
Change your payout bank account on TWINO by following the bank account change process.
Once the new bank account has been registered, use this bank account for future deposits and withdrawals.
You can find more information on how to change your bank account here:
https://www.twino.eu/en/how-it-works/faq/question?q=how-to-change-my-bank-account-number-
What happens after I add an EU/EEA SEPA account?
Once your new EU/EEA SEPA account has been successfully registered, your withdrawal conditions will be updated accordingly. This means that the standard withdrawal limits applicable to other clients using EU/EEA SEPA accounts will apply to your account as well.
Will EU/EEA withdrawals remain free?
Yes. Withdrawals and refunds to bank accounts registered in the EU/EEA and supporting SEPA EUR payments are not subject to the €35 fee.
Need assistance?
If you need help with your bank account details or withdrawal options, please contact TWINO support at [email protected].