Withdrawal Policy
Effective Date: [01-01-2026]
This Withdrawal Policy explains how users may request, process, and receive withdrawals from their Lotsvia Vault. It is designed to ensure transparency, security, regulatory awareness, and user protection while maintaining Lotsvia’s privacy-first philosophy.
1. Overview of Withdrawals on Lotsvia
Lotsvia allows eligible users to withdraw digital value stored in their Lotsvia Vault to external bank accounts through supported payout gateways. Withdrawals are processed manually by Lotsvia administrators to ensure system integrity, prevent fraud, and maintain platform stability.
All withdrawals are subject to review, approval, and verification before funds are released.
2. Eligibility for Withdrawal
- User must have a registered and active Lotsvia account.
- User must have sufficient available balance in their Lotsvia Vault.
- User must meet the minimum withdrawal requirement.
- User must comply with Lotsvia’s Terms of Service and platform rules.
Lotsvia reserves the right to restrict withdrawals from accounts involved in suspicious activity, abuse, or violations of platform policies.
3. Minimum & Maximum Withdrawal Limits
Minimum Withdrawal Amount: $20 USD
Maximum Withdrawal Amount: There is no fixed daily maximum withdrawal limit. Users may withdraw any amount available in their Vault, provided it meets system checks and approval conditions.
Lotsvia may temporarily impose limits during maintenance, security reviews, or extraordinary situations.
4. Withdrawal Fees
A standard withdrawal fee of 5% is applied to all withdrawal requests.
The fee is deducted automatically, and the remaining balance (“net amount”) is the amount sent to the user’s bank account.
Fees are non-refundable once a withdrawal has been successfully processed.
5. Supported Withdrawal Regions & Gateways
Lotsvia supports withdrawals through the following gateways:
- Africa: Paystack
- International: Flutterwave
Users select their region during withdrawal submission. The appropriate gateway is triggered automatically.
Lotsvia does not control external banking delays, intermediary processing times, or third-party gateway downtime.
6. Withdrawal Request Process
- User submits a withdrawal request via the designated withdrawal page.
- The requested amount is temporarily deducted and locked from the user’s Vault.
- The withdrawal status is set to Pending.
- An administrator reviews the request.
Users can view the status of all withdrawals in their withdrawal history section.
7. Admin Approval & Processing
All withdrawals are processed manually by authorized administrators.
Administrators may:
- Approve: Funds are sent through the selected payout gateway.
- Reject: Funds are refunded back to the user’s Vault.
Approval ensures protection against system abuse, fraud attempts, and unauthorized transactions.
8. Processing Time
Approved withdrawals are typically processed within:
- 24 – 72 hours (excluding weekends and public holidays)
Actual receipt time depends on banking institutions and payment gateway processing speeds.
9. Rejected or Failed Withdrawals
A withdrawal may be rejected or fail due to:
- Incorrect bank details
- Gateway errors
- Security concerns
- Policy violations
In such cases:
- The full withdrawal amount is automatically refunded to the user’s Vault.
- The withdrawal status is marked as Rejected or Failed.
- The user receives a notification.
10. Withdrawal Status Definitions
- Pending: Awaiting admin review.
- Approved: Approved and processing.
- Completed: Successfully paid out.
- Failed: Gateway failure, funds refunded.
- Rejected: Admin declined, funds refunded.
11. Security & Fraud Prevention
Lotsvia implements multiple security layers including:
- Manual approval workflow
- Wallet balance locking
- Gateway webhook verification
- Audit logging
Suspicious activity may result in temporary or permanent withdrawal restrictions.
12. Anonymity & Privacy
Lotsvia does not publicly disclose withdrawal identities. However, payment gateways and banks may require basic payout details to complete transactions.
Lotsvia stores only necessary information required for platform functionality and security.
13. User Responsibilities
Users are responsible for:
- Providing accurate withdrawal details
- Ensuring bank account ownership
- Understanding fees and processing timelines
Lotsvia is not liable for losses due to incorrect user-provided information.
14. Policy Changes
Lotsvia reserves the right to update this Withdrawal Policy at any time. Changes will be posted on the platform and take effect immediately unless stated otherwise.
15. Contact & Support
For withdrawal-related inquiries, users may contact Lotsvia through the official support channels listed on the platform.
By using Lotsvia’s withdrawal services, you acknowledge that you have read, understood, and agreed to this Withdrawal Policy.