No, we do not hold your funds until your withdrawal is processed, instead we only debit your account when we process the withdrawal.
We never remove the funds from your account at the time you create the withdrawal. You must ensure you maintain sufficient funds in your account for the withdrawal to be processed.
As an example, if you create a withdrawal for $100 and decide to buy $50 of BTC the next day, if you only have $100 AUD in your account, $50 AUD will be deduced from your AUD balance to pay for the BTC. This means your withdrawal will be canceled when the withdrawal is processed, as there will not be a sufficient AUD balance in your CoinSpot account.
If we notice your bank account details are incorrect at the time of processing your withdrawal, we will cancel the withdrawal and the funds will remain in your account.
If you cancel your withdrawal, the funds will remain in your account.