Learn about transferring money from your Lolli wallet including, how to transfer, transfer fees, and more.
When you earn money with Lolli, it gets stored in your secure Lolli wallet! The more you earn, the more money you'll see stack up on Lolli.
But did you know you can transfer money from your Lolli Wallet to a bank account or bitcoin wallet? While storing your money with Lolli is an easy and safe way to keep your rewards, here's what you need to know to transfer money from your Lolli wallet.
Transfer Requirements
To request a transfer, all we need from you is:
- A confirmed email address
- Your first and last name
- A minimum confirmed reward balance worth USD $15.
That's it! If you meet the requirements above, read on to learn how to transfer to a bank account or bitcoin address.
Transfer Fees
Transferring Bitcoin to a Bank Account
When you transfer bitcoin from your Lolli wallet to an external bank account, we charge a small Exchange fee which may change based on the amount of money you are transferring.
Lolli may also include a spread on the exchange rate used to price bitcoin by exchanges. Depending on market conditions, the spread may be anywhere between 0% - 1% of your transaction.
Applying a small fee to bitcoin transfers allows Lolli to offer bitcoin liquidity to you and maintain our service. If you have a question about fees, please reach out to support@lolli.com.
Transferring Bitcoin to a Bitcoin Wallet
For users transferring bitcoin to an external bitcoin wallet, Lolli will charge a pro rata fee based on the actual bitcoin network fee market. This covers the fee needed to include the transaction in a block.
Pro rata fees are calculated based on a customer’s pro rata share of the applicable network transaction fee (i.e. miner’s fees). The exact pro rata fees depend on the congestion of the blockchain at the time you submit your transfer request.
Transferring Cash Rewards to a Bank Account
We do not charge any fees to transfer your cash rewards to a bank account at this time.
How to Transfer Your Funds
Transfer Bitcoin to a Bitcoin Address
- Go to https://www.lolli.com/wallet/transfer to start the transfer request process.
- Select Transfer to a Bitcoin Address.
- Enter your bitcoin address.
- Press Review.
- Review your transfer to make sure your address and balance is correct.
- Press Submit.
- Check your email for a confirmation link.
- Follow the confirmation link in your email to finalize your transfer request. If you do not confirm your transfer within 30 minutes of generating the original quote, the transfer request will automatically cancel.
Transfer Bitcoin or Cash to a Bank Account
- Go to https://www.lolli.com/wallet/transfer to start the transfer request process.
- Press Cash Out to Bank Account.
- Press the Add bank account link to launch the bank account connection wizard.
- Find and select your bank.
- Enter your bank credentials for instant verification with your bank.
- Some banks may require additional information. Just follow the instructions in the wizard.
- Select the desired account to which you want to transfer your available balance.
- At this point the wizard will close, and your selected account name will appear under Deposit to. Press Review.
- Review your transfer to make sure your target account and balance is correct. At this time we only support transferring your entire available balance.
- Press Submit.
- Check your email for a confirmation link.
- Follow the confirmation link in your email to finalize your transfer request. If you do not confirm your transfer within 30 minutes of generating the original quote, the transfer request will automatically cancel.
Once you have set up your bank account with Lolli, you won't need to do this again.
When will I get my money?
Once you have submitted your transfer, it will be subject to automated and manual security reviews.
We take the security of your bitcoin very seriously, so there are a number of procedural checks and balances to make sure you and only you receive your bitcoin. Any request placed before 11:59pm ET Monday will be processed in the same week's batch of transfers. Any requests that come in after that time will be bundled into the next week's batch. Once the transfer team begins processing a week's batch on Tuesday, it can take up to 72 hours to fully review, process and broadcast the week's batch.
Once your transfer has passed the review process, if you are receiving bitcoin, your transfer will confirm on-chain as part of a bitcoin transaction. If you are receiving USD, your transfer will be submitted to the Automated Clearing House (ACH) system, where delivery times vary by bank but typically take 7-10 business days.