Deposit Euro (EUR) into the Kinesis platform using fast and efficient SEPA cross-border transfers within the EEA zone.
Who is this guide for? EUR deposits via SEPA are available to Individual Kinesis account holders residing in eligible EEA countries, regardless of where their bank account is registered. These restrictions are in place to meet regional compliance standards.
Example: If your registered country of residence is Italy, you can deposit EUR from a UK-registered bank account using a standard IBAN and BIC (SEPA).
However, if your registered country of residence is Britain, you can't deposit EUR via SEPA at all, even from a UK bank account, due to regional regulatory restrictions.
Looking to deposit another currency?
Before you can deposit, you must first verify your identity, as outlined in this guide.
Note: EUR can be held in your Kinesis portfolio, but fiat currencies can't be traded, sent, or spent by card directly.
To use your funds, convert EUR into Currency One EUR (C1EUR) - a stablecoin pegged 1:1 to the Euro - in a few clicks, free of charge. You can convert C1EUR back to EUR just as easily at any time. See the conversion guide here.
You can also set up auto-conversion, so future EUR deposits convert automatically to C1EUR at no charge - as described here.
Deposit EUR from EEA-zone via SEPA:
European users can deposit Euro (EUR) directly into the Kinesis platform via using safe and efficient SEPA cross-border transfers with no currency conversion required.
What is SEPA?
The Single Euro Payments Area (SEPA) is a Europe-wide payment network enabling cross-border bank transfers between countries in the European Economic Area. European users can deposit EUR directly into the Kinesis platform through SEPA, with no currency conversion required. See the full list of eligible SEPA countries.
What are the fees?
Kinesis fees for EEA residents depositing Euro into the Kinesis platform are as below:
- EUR-to-EUR deposits via SEPA transfer: 0.02% per transaction
- One-Time Initial Deposit Fee: 5 EUR - applied to the first Euro deposit only
The external bank from which you are sending funds may apply its own charges, which vary by provider. These fees are not associated with Kinesis.
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Example 1 (First deposit)
John deposits 1000 EUR for the first time via BCB Virtual Account.Standard fee = 0.02% × 1000 = 0.2 EUR
One-time fee = 5 EUR
Total fee = 5.2 EUR
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Deposit Request displays:
Amount: 994.8 EUR
Fee: 5.2 EUR
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Example 2 (Subsequent deposit)
Mary deposits 1000 EUR for the 3rd time via BCB Virtual Account.Standard fee = 0.02% × 1000 = 0.2 EUR
One-time fee = not applicable
Total fee = 0.2 EUR
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Deposit Request displays:
Amount: 999.8 EUR
Fee: 0.2 EUR
Deposit Euro from an EEA-based account
Step 1: Click Assets in the left-hand navigation panel, select EUR from the currency list, then select Deposit.
Alternatively, use the Deposit option in the drop-down menu, at the top-right corner of your Home dashboard.
Step 2: As you click Deposit, a new preferred deposit location for Euro currency should appear as the first option.
You will be asked to create your personal bank details to deposit EUR into your Kinesis EUR account.
Step 3: Click Create, and Kinesis will automatically create your Virtual Account with unique bank details.
These details will include the recipient bank and account holder name (Kinesis Money), your International Bank Account Number (IBAN) and Bank Identifier Code (BIC).
Step 4: Your newly created Virtual Account is now ready to receive funds. In a separate tab, log into the external European bank account you'll be sending from.
Note you can only deposit EUR from an account held in your own name.
Step 5: When setting up the transfer, carefully copy the details from your Kinesis Virtual Account into the Recipient fields of your external bank account, to ensure the successful receipt of your funds.
Allow 3-5 working days for funds to clear, though they often arrive sooner. Once Kinesis confirms receipt, your EUR account will be credited and you'll receive a confirmation email.
What if my deposit is rejected?
If your payment doesn't come through, your funds will be returned to the account they were sent from. To avoid this, make sure funds are sent from an account held in the same name as your Kinesis account.
Deposits may also be rejected if your name or surname contains special characters or numerals, or if the registered address details don't match between the sending and receiving accounts.
Questions? Our customer support team is available 24/7 - start a chat or visit the Kinesis support page.