Find out how to deposit Euro (EUR) into the Kinesis platform using fast and efficient cross-border SEPA and FPS cross-border transfers within the EEA zone.
Who is this guide for? This deposit method is only available to Individual Kinesis account holders residing in eligible EEA countries, regardless of where your bank account is registered. These restrictions are in place to meet regional compliance standards.
Example: If your country of residence registered with Kinesis is Italy, you can still deposit EUR from a bank account registered in Britain using a standard IBAN and BIC (SEPA).
However, if your country of residence is registered in Britain, you won't be able to deposit EUR from your British bank account to Kinesis via SEPA, due to regional regulatory restrictions.
Looking to deposit another currency? Kinesis offers a range of deposit options depending on your location and currency:
- To deposit British Pounds (GBP) from an EEA-based bank account, see our guide here.
- To deposit any other fiat currency or crypto globally, see our depositing guide here.
Before you can deposit funds into Kinesis, you must first verify your identity, as outlined in this guide.
Note: Although you can deposit EUR and hold it in your Kinesis portfolio, fiat (cash) currencies cannot be used directly for trading, sending, or spending via card on the Kinesis platform. To do so, simply convert your EUR into Currency One EUR (C1EUR) - a stablecoin pegged 1:1 to the Euro - in just a few clicks, free of charge. You can also convert C1EUR back to EUR just as easily, at any time. See the conversion guide here.
You can also set up auto-conversion, so any future EUR deposits are instantly and automatically converted to C1EUR at no charge - as described here.
Depositing Euro (EUR) from EEA-zone using SEPA transfer:
European users can deposit their Euro (EUR) currency funds directly into the Kinesis platform without the need for currency conversion, using safe and efficient SEPA cross-border transfers.
What is SEPA and in which countries does it operate?
Single Euro Payments Area (SEPA) is a Europe-wide payment network allowing users to easily and conveniently make cross-border bank transactions between different countries within the European Economic Area. To see the full list of all eligible European countries within the SEPA Zone, from which you can deposit Euro onto the Kinesis platform, click here.
What are the fees for depositing?
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 only to the first Euro deposit
Please note that the external bank from which you are sending funds might be subject to additional charges that might vary. 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
-
Deposit Request displays:
Amount: 999.8 EUR
Fee: 0.2 EUR
How to deposit Euro from an EEA-based account?
Step 1: Click on the Assets tab from the left-hand navigation panel and select EUR from the available currency list, then select the Deposit option.
Alternatively, you can also click the Deposit option in the drop-down menu, located in the top-right corner of your main 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 in order to deposit EUR into your Kinesis EUR account.
Step 3: When you click Create, Kinesis will automatically create your Virtual Account with unique bank details.
The new account details will include the recipient bank and account holder name (Kinesis Money), along with your International Bank Account Number (IBAN) and Bank Identifier Code (BIC).
Step 4: You can now use your newly created Virtual Account to send funds from an external bank account and the Kinesis platform. To start, minimise the Kinesis account tab in your browser and log into your external, European bank account from which you wish to send the funds to Kinesis, in another tab.
Please note that users can only deposit EUR from another account held in their name.
Step 5: As you create a bank transfer, make sure to carefully copy the depositing details from your Kinesis Virtual account and paste them into the Recipient fields of your external bank account, to ensure the successful receipt of your funds.
Allow 3-5 working days for the funds to clear, though they often arrive much sooner. Once Kinesis has confirmed receipt of your deposited funds, your Kinesis EUR account will be credited and you will receive an email confirming this transaction.
What if my deposit is rejected?
If your payment didn’t come through for any reason, your funds will be returned to the bank account they were originally sent from. To prevent your funds from being redirected, please ensure that they are being sent from an account held in the same name as your Kinesis account.
Your deposit might be rejected if there are special characters or numerals in your name or surname, or if your registered address details do not match the sending and receiving accounts.
If you have any questions regarding depositing funds into Kinesis, remember that our customer support is available 24/7 and always happy to help. Start a chat anytime using this link or visit the dedicated Kinesis support page here.