Koinex Enables Withdrawals, with Conditions

In a surprising delight, Koinex announced they will enable Deposits and Withdrawals today. They are not instant yet as we had hoped for.

INR Transactions Update: Deposits & Withdrawals will be enabled today!
Important points:
– INR 10 lakhs per transaction
– INR 1 crore per account per day
– All pending withdrawals have been credited back to Koinex wallets
Please read our complete blog: https://t.co/hbKPQOqrLv

— Koinex (@koinexindia) 8 January 2018

The Fine Print:

Withdrawals:

• Starts at 5:00 PM on 8th Jan, 2018
• There is no fee for Withdrawal
• Withdrawals will be enabled for 48 hours only
• It can take upto 3 Business days for the settlement in your bank account.

Deposits:

• Starts at 01:00 AM on 9th Jan, 2018
• Deposits will be via a payment gateway
• Payment gateway based Deposits will be charged a Flat 2% Fee.

Are you guys happy with the announcement? Let us know in the comments below.