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Fiat Wallet - EUR Bank Transfers via SEPA Network
Fiat Wallet - EUR Bank Transfers via SEPA Network

Information about EUR Bank Transfers via SEPA Network - setup, deposits and common issues

Support Specialist avatar
Written by Support Specialist
Updated over a week ago

Bank transfers via SEPA Network are a relatively inexpensive way to transfer funds into the Crypto.com App. 

How to set up my EUR fiat wallet?

  1. Go to “Fiat Wallet” from the “Menu” Button, OR from the home screen, tap “Accounts” > “Fiat Wallet”, OR from the home screen, tap “Deposit” > “Fiat”

  2. Tap on the “+ Set Up New Currency” button

  3. Setup EUR (SEPA)

  4. Complete the EUR wallet set-up as per the SEPA network instructions

    You need to submit the following additional information in order to create your EUR fiat wallet:

    • Expected annual transaction volume

    • Annual income bracket

    • Employment status/ occupation

    • Address verification

  5. Use the bank account info provided to transfer directly through your bank via the SEPA network

  6. We will notify you once your bank transfer has been successfully deposited

How to deposit EUR?

Upon successful setup of the EUR Fiat Wallet, you can navigate to the deposit information screen which displays all the details necessary to transfer EUR from your bank account to your Crypto.com account. To get there from the app home screen tap Deposit > Fiat > Euro. Or, tap Accounts > Fiat Wallet > Transfer > Deposit > Euro.

Please keep in mind that only SEPA transfers from bank accounts bearing your name will be accepted. The information needed to initiate a EUR bank transfer is:

  • Beneficiary name - the legal name you used to register in our app (this must be your full name, as registered in your personal bank account)

  • IBAN - this is your IBAN.

  • BIC/SWIFT code - some banks require it to transfer the money

  • Institution name, address, and country - not all banks require this info, but if they do, please use the details provided here

There may be slight differences in the details required by banks, but the information you have here will be sufficient for all of them.

Note:

  • Only SEPA transfers from bank accounts bearing your name will be accepted.

  • No third-party deposits are allowed.

Alternative Deposit details

You can also set up and use alternative deposit details as part of our robust fiat deposit and withdrawal offering. This allows you to fund your EUR Fiat Wallet via an alternative provider.

  1. Go to the EUR deposit information screen. From the app home screen tap Deposit > Fiat > Euro. Or, tap Accounts > Fiat Wallet > Transfer > Deposit > Euro

  2. On the deposit information screen, select the drop down on the “Deposit to” field

  3. Select the alternative provider and confirm your selection

At any time you may change between providers by selecting the “Deposit to” dropdown again on the Deposit information screen.. No matter which provider you choose to use, you can make EUR transfers directly from your bank to your EUR Fiat Wallet.

Troubleshooting

There are a few things to remember when making a bank transfer to your Crypto.com App:

  1. EUROs: Only EUR SEPA** transfers will be accepted. A EUR transfer initiated from outside of SEPA will not be successful, and substantial fees for international transfer may be imposed on your funds.

  2. Your Named Account: We can only accept transfers from bank accounts opened under your own name. 3rd party transfers (e.g. payments from your customers, salary transferred by your employer, etc.) will not be accepted. Specifically, we will not accept transfers from crypto exchanges (e.g. Kraken, Bittrex, etc.).

  3. Common Issues: The most common reasons for your transfer being on hold are:

  • the name of your bank account does not fully match your name on our record

  • you sent the funds from a joint account

  • your transfer was not a SEPA transfer or came from an unsupported institution (e.g. a crypto exchange)

  • your transfer was not made from a bank, but a payments processing company (e.g. Stripe, Wise, etc.)

When contacting our support, please be ready to provide us with supporting documents (e.g. a bank statement) showing your full name, the bank account you made the transfer from, and - ideally - the transaction itself.

  • Although SEPA deposits are free, your bank may charge you fees, specifically if you’re initiating your SEPA transfer from a non-EUR account. Please check with your bank before proceeding.

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