Pionex does not handle the conversion of cryptocurrency to fiat or the transfer of funds to your local bank account directly. Instead, we partner with AlchemyPay — a licensed third-party payment service provider — to facilitate this process.
Please note that selling cryptocurrency to a local bank account (Fiat withdrawal) is treated as a withdrawal.
Web operation steps
Step 1: Navigate to the Third-Party page
From the top navigation bar, click [Buy Crypto] → [Third-Party] to enter the Third-Party page.
Step 2: Fill in the Sell form
Click [Sell] to switch to the sell view.
Click [USDT] to select the cryptocurrency and network you want to sell.
Select the fiat currency you wish to receive. If your local currency is not listed, your region is currently not supported.
Enter the amount of USDT you wish to sell.
Click [Sell USDT] to proceed.
*Please note: The receiving amount displayed on this page is for reference only. You will need to proceed to the merchant's page to confirm the final amount.
Step 3: Complete the merchant's payment page
Agree to the merchant's disclaimer to continue.
You will be redirected to AlchemyPay's payment page — please fill in all required information, including your bank account details.
After completing the form and submitting, an order ID will be generated. Keep this for your records.
Step 4: Wait for the deposit
Once the order is created, the merchant will review it manually and deposit the fiat currency into your bank account within 1–3 working days.
App operation steps
Step 1: Navigate to the Third-Party page
Tap [Pionex] → [More], then go to Deposit & Withdrawal. Select [Buy] and choose [Third-Party].
Step 2: Fill in the Sell form
Tap [Sell] to switch to the sell view.
Tap [USDT] to select the cryptocurrency and network you want to sell.
Select the fiat currency you wish to receive. If your local currency is not listed, your region is currently not supported.
Enter the amount of USDT you wish to sell.
Tap [Sell USDT] to proceed.
*Please note: The receiving amount displayed on this page is for reference only. You will need to proceed to the merchant's page to confirm the final amount.
Step 3: Complete the merchant's payment page
Agree to the merchant's disclaimer to continue.
You will be redirected to AlchemyPay's payment page — please fill in all required information, including your bank account details.
After completing the form and submitting, an order ID will be generated. Keep this for your records.
Step 4: Wait for the deposit
Once the order is created, the merchant will review it manually and deposit the fiat currency into your bank account within 1–3 working days.
FAQ
Q: My country is not listed for fiat withdrawal. What are my alternatives?
A: Third-party channels currently support fiat withdrawals in the following currencies only: EUR, HKD, IDR, INR, KRW, MYR, PHP, TRY, USD. Other currencies and country is not supported for fiat withdrawal. If your country or local currency is not currently supported for fiat withdrawal via AlchemyPay, you can transfer your funds as cryptocurrency to another platform that supports the conversion of crypto to fiat and local bank withdrawals in your region.
Q: My verified region is Russia — can I sell crypto to my local bank account?
A: No. If your verified KYC region is Russia, fiat withdrawal (selling crypto to a bank account through our third-party channel) is currently unavailable, regardless of which fiat currency you select, due to local regulations and platform policy. This is a regional rule, not an account, balance, or verification problem, so it cannot be resolved by re-verifying, clearing the cache, or changing device. You can still withdraw your assets as crypto on-chain and use a platform that supports fiat conversion in your region.
Q: When I try to sell crypto, I receive an error message "Account at Risk". What should I do?
A: Please reach out to our customer support team for assistance. Our team will review your account and guide you through the next steps.
Q: I tried to sell a small amount of crypto, but the Sell button is not clickable. What is the reason?
A: There is a minimum transaction amount required to proceed with a sell order. If the amount you entered is below the minimum, the Sell button will not be available. The minimum amount will be displayed on the page once you have entered an insufficient amount. Please try again with a larger amount.
Q: After I created order, it shows my transaction failed. What should I do?
A: You can contact customer support with your order ID and your TRC20 deposit address. We will assist you for a refund.
Q: Why is my fiat withdrawal failing?
A: Verify that your withdrawal bank account details exactly match the KYC identity information registered on your Pionex account. Mismatched information is a common cause of failed withdrawals.
Q: Why can't I withdraw the currency shown in my account balance?
A: The currency displayed in your account is valued in Euros or other currencies and does not represent actual cryptocurrency. Before making a fiat withdrawal, you must first convert your assets to USDT, then proceed with the fiat withdrawal through third-party channels.
Q: I completed a BRL Bank Transfer deposit but cannot withdraw fiat — why?
A: A T+14-day withdrawal restriction applies after completing a BRL Bank Transfer deposit. You will be able to withdraw fiat once the 14-day period has elapsed from the date of your deposit.
Q: When can I withdraw after depositing via bank transfer (AlchemyPay SEPA)?
A: For AlchemyPay SEPA (EUR) bank transfer deposits, a T+10-day withdrawal restriction applies. You will be able to withdraw once 10 days have elapsed from the date your transaction is completed.
Q: I received an email telling me my fiat withdrawal has failed (fiat withdrawal through third-party, Alchemy Pay withdrawal), asking me to contact customer service to arrange for a refund. What should I do?
A: When you receive a fiat withdrawal failure email notification, please contact customer service and provide the following information:
Your Pionex TRC-20 USDT deposit address to receive the USDT refund
A screenshot of the failed fiat withdrawal
Once the customer service team receives this information, they will communicate with the third-party service provider to arrange the refund. The refund is expected to be completed within 1–7 business days. Please note that the actual processing time depends on the third-party provider's handling process.
Q: Why am I getting a Name Mismatch error?
A: This is usually caused by your bank account name not matching your Pionex KYC name. Please check whether your bank account name matches the name on your ID document.
Q: My bank account name and ID name are the same, but I'm still getting a Name Mismatch error. How do I resolve this?
A: Please contact Pionex official customer support for assistance in investigating the issue.
Q: What is SWIFT/BIC, and what do I need to fill in for it on AlchemyPay's payment page?
A: SWIFT/BIC is an international bank identifier code used to confirm which bank should receive your payment. The exact fields AlchemyPay asks for (SWIFT/BIC, IBAN, bank name, address, etc.) depend on your receiving bank's country and currency, so please fill in exactly what is shown on AlchemyPay's payment page at the time. If you're not sure of your bank's SWIFT/BIC code, you can usually find it on your bank statement, online banking, or by asking your bank directly. As with all bank account details, make sure the account name matches your Pionex KYC information exactly — see the Name Mismatch FAQ above for details.
Q: Are there any fees for selling crypto to a bank account, and where can I see how much I will receive?
A: Yes. When you enter an amount on the Sell page, the breakdown is shown before you continue:
Reference Price — the exchange rate used to convert your crypto to the fiat currency.
Channel usage fee — the service fee charged by the third-party provider (AlchemyPay) for this channel.
Withdrawal fee — the standard Pionex on-chain withdrawal fee for the network you choose. Because you select the network of the crypto you are selling (for example Tron TRC20, Ethereum ERC20, or BNB Smart Chain BEP20), you can lower this fee by choosing a cheaper network — TRC20 is usually the cheapest for USDT.
The "You Will Receive" figure already has both fees deducted, so it is your estimated net payout. This amount is for reference — the exact final amount is confirmed on AlchemyPay's payment page before you submit the order (Step 3). Pionex does not publish a single fixed rate for this channel because the exchange rate and channel usage fee change with the market, currency, and amount, so always check the live breakdown on the Sell page. Your receiving bank may also apply its own incoming-transfer fee, which is outside Pionex's and AlchemyPay's control.