Once you’ve verified your identity, you’ll be able to add a bank account to your Luno wallet as a beneficiary. This will be used to process withdrawals from Luno to your bank account. 

Please take note of the bank account requirements before adding the bank account or requesting a withdrawal. Specifically, you can only add bank accounts that are in your name.

To add your bank account, follow these steps:

  1. Open the Luno app and sign in 

  2. Select Wallets from the menu

  3. Select Withdraw on your local currency wallet, and then Add new bank details

  4. On the Add new bank details screen, enter all the relevant details, and select NEXT

  5. Lastly, confirm that the bank account is your own bank account on the pop-up

Mission success! You'll now be able to successfully withdraw money from your Luno wallet.


Note:

You can only withdraw funds to a bank account that is in your own personal name.


Updating your beneficiaries

To remove a beneficiary using the website, follow these steps:

  1. Open the Luno app and sign-in 

  2. Go to Menu, tap Wallets

  3. Tap Withdraw on your local currency wallet and tap Beneficiaries

  4. Find the beneficiary you would like to remove, and then select the remove action to the right of the beneficiary’s name and description.


Important note for our UK/EU customers

Before you can withdraw money from your local currency wallet, you'll first need to make a deposit from your bank account - so we can add it as a beneficiary for withdrawals. This will confirm that the bank account is in your name, so that we can process your withdrawals correctly, as per our terms of use.