Withdrawal Policy

Last updated: 21 October 2026 · Effective: 21 October 2026

This Withdrawal Policy explains how you move money out of your FarmX Wallet to your bank account, and the checks, limits, timing and fees that apply. It forms part of your agreement with us and should be read with the Terms of Service, the Refund & Withdrawal Policy, the AML & Fraud Policy and the Risk Disclosure.

1. What you can withdraw

• You can withdraw your available Wallet balance — cleared funds that are not committed to an active investment.
• Investment profit may first need to be moved to your Wallet balance. Moving profit to your Wallet requires your Transaction PIN and may attract a percentage fee, shown before you confirm.
• Your Reinvest Balance (65% of capital credited at maturity) cannot be withdrawn. It can only be used to buy farm shares. See the Terms of Service, section 7B.
• Invested capital is not available on demand. Once you buy Shares, that money is committed for the project term. You exit only by the means the project allows, and the value you receive depends on the project's performance and may be less than you invested, or nothing. See the Risk Disclosure.

2. Bank account requirements

• Withdrawals are paid to a Nigerian bank account.
• The account must be in your own name. When you enter your bank details we verify the account name through our payment partner, and your first and last name on FarmerXchange must both appear in the bank account name (order, capital letters and middle names do not matter). If they do not match, you will see a "Name mismatch" message and the withdrawal will not proceed. Withdrawals to third-party accounts are not allowed.
• Once your identity (KYC) is verified, your name on FarmerXchange is locked. If it needs correcting, contact support.
• You are responsible for entering correct and current bank details.

3. Limits

Minimum and maximum withdrawal amounts, and daily or other periodic limits, are set by FarmX and shown at the point of withdrawal. Limits may vary with your verification level and may be changed. We may apply lower limits, or additional checks, to newer accounts or where risk indicators are present.

4. How to request a withdrawal

1. Go to the withdrawal section of your account.
2. Enter the amount and select or add your bank account.
3. Confirm the request with your Transaction PIN.

5. Review and approval

Every withdrawal is subject to automated checks and to manual approval by an administrator. We may ask you for additional information or identity verification, and we may hold, delay or decline a withdrawal where a check fails, where information is missing, or where we reasonably suspect fraud, money laundering, error, or a breach of our policies. See the AML & Fraud Policy.

6. Processing times

We aim to review and release approved withdrawals promptly, typically within a few business days. The time for funds to reach your account also depends on your bank and our payment partner. Weekends, public holidays, bank downtime, and additional checks can cause delays. Processing times are targets, not guarantees.

7. Fees

The withdrawal fee is 10% of the amount you withdraw:

• 3% service fee, and
• 7.5% VAT, of which FarmerXchange covers 0.5%, so you pay 7%. The VAT collected is remitted to the Federal Inland Revenue Service (FIRS).

For example, on a ₦100,000 withdrawal the fee is ₦10,000 and ₦90,000 is paid to your bank account. The fee is shown before you confirm. A profit-transfer fee may also apply when you move investment profit to your Wallet. Charges applied by your own bank are your responsibility.

8. Failed or returned transfers

If a transfer fails or is returned — for example because the account details are wrong or the account is closed — the amount is returned to your Wallet, less any charges we cannot recover. You must then correct your details before requesting the withdrawal again.

9. Reversals and recalls

We may reverse a withdrawal credited or paid in error, and we may recall funds paid out as a result of fraud, a system error, or a transaction that is later reversed. Returns or commissions linked to activity later found to be fraudulent or reversed may also be reversed.

10. Restricted or suspended accounts

No withdrawals are processed while an account is under investigation or suspended. If a breach of the Terms of Service or the AML & Fraud Policy is confirmed, we may withhold or reverse affected balances, Returns and commissions.

11. Dormant and inactive accounts

If your account is inactive for an extended period and holds a balance, we may contact you using your registered details and will deal with the funds in accordance with any applicable unclaimed-funds or dormant-account law.

12. Tax

You are responsible for determining and paying any tax due on your Returns, commissions and withdrawals.

13. Changes

We may update this policy, including limits, fees and processing targets. The current version, with its last-updated date, is always on the Platform.

14. Contact

Questions about a withdrawal can be raised through the Contact page or a support ticket. Please include the transaction reference.