Withdrawal approvals
INFO
Only users, that have the admin role are able to create crypto withdrawal rules
DANGER
Withdrawal approvals cover only user requested withdrawals, the automatic ones via API integration are not covered
To configure Withdrawal approvals you have to first create an approval rule.
Add approval rule
Navigate to the Withdrawal approvals section in dashboard
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Navigation to Withdrawal approvals in dashboard
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Add approval rule screen
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Enter a EUR equivalence amount
- This is a minimum threshold amount above which every withdrawal request will first need to be approved -
Add Users to the approval rule
- Users have to already be registered to your organisation and you can select multiple users to be added from the list in any single rule -
Enter your 2FA code
Managing approval rules
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View after creating first rule
- Once you create your first rule all crypto withdrawal that fall below the rule threshold won't need any approvals.
- All the crypto withdrawals that exceed the rule threshold will need approval.
- Withdrawal rules allow for editing, meaning after creation the list of approvers or the threshold can still be changed.
💡
You must always have at least one approver per rule
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Overview of withdrawal approvals after adding second approval range
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As seen in the screenshot above, if multiple rules exist, they create a tiered approval strategy with each tier requiring its own approvers.
\For example, you can configure the system as follows:\
- No approval is required for crypto withdrawals with value less than 50 000 EUR
- Crypto withdrawals with value between 50 000 EUR and 100 000 EUR can be approved by Team members A or C
- Crypto withdrawals with value above 100 000 EUR can be approved only by Team member B (who can also approve lower amounts between 50 000 and 100 000 EUR as well)
Approving and Declining a crypto withdrawal
Navigate to pending approvals and click on View icon
Withdrawals that are waiting for approval, can be found in the same Withdrawal approvals menu, just below the rules section. To approve a withdrawal click the View (magnifying glass) button, located in the same role as the withdrawal you want to process. The Approve and Decline buttons are at the bottom of the newly opened details window.
Approve or Decline a withdrawal
If the creator of the withdrawal spots a mistake in the data filled, he has the option to delete it before it is approved or declined. This can be achieved by finding the withdrawal within the list of withdrawal that are waiting for approval, clicking the View button and clicking the Delete button.
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Delete a withdrawal without waiting for approval