Cryptocurrency exchange Coinbase is including a new method to withdraw funds from your Coinbase account. If you’ve included a compatible debit card to your account, you can move USD, EUR or GBP to your checking account nearly immediately.

There are some drawbacks, and the main one is that you’ll pay a great deal of charges. In the U.S., Coinbase deducts 1.5% from the transaction, or a minimum $0.55 if it’s a little transaction. In Europe and the U.K., you pay 2% in fees or a minimum charge of ₤ 0.45/ EUR0.52.

You likewise need to have a compatible card. Not all debit cards support incoming transfers. You need to have a Visa card that supports Visa Quick Funds. In the U.S., you can likewise utilize a MasterCard card with MasterCard Send.

It’s hard to know whether your bank or card provider support those functions. The best way to figure it out is probably by including your card to Coinbase and see what Coinbase says.

Coinbase isn’t eliminating other withdrawal methods. If you’re looking for a less expensive method to withdraw your funds in Europe, a SEPA bank transfer costs EUR0.15 per transfer. And Coinbase supports instantaneous SEPA transfers if your bank has made it possible for that.

The company likewise lets you connect your PayPal account with your Coinbase account. Your funds ought to strike your PayPal account within a few seconds and there are no charges on Coinbase’s side.

As you can see, there are numerous ways to move money from your checking account to your Coinbase account. Some of them are slower than others, a few of them are more costly than others. Crypto-to-crypto transactions are a bit simpler by comparison as you only require your recipient’s wallet address to send tokens.

Image Credits: Coinbase

Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.