Depositing British Pounds (GBP) into the Kinesis platform from Europe

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Find out how to make your first British Pound (GBP) deposit onto the Kinesis platform using fast and efficient cross-border FPS transfers within the EEA zone.

Kinesis offers a variety of available options for users wishing to deposit funds into the Kinesis platform, depending on their location.

For all Europe-based Individual account holders wishing to deposit Euro (EUR) or British Pounds (GBP) into the Kinesis platform, we recommend using the SEPA and FPS cross-border transfers, as described below in this article.

To find out how to deposit Euro (EUR) from an EEA-based bank account, see our guide here.

To find out how to deposit any other fiat currency and crypto into the Kinesis platform globally, visit our depositing guide here.

Please note that the depositing options described in this guide are only available for Individual Kinesis account holders whose bank accounts are registered in eligible EEA-zone countries.

Please also note that in order to deposit funds into the Kinesis platform, you must first be fully KYC-verified. You can find out how to verify your Individual Kinesis account in this article.

Depositing British Pounds (GBP) from Europe using FPS transfers:

EEA-based users can deposit their British Pounds (GBP) directly into their Kinesis accounts without the need for currency conversion, using safe and efficient cross-border transfers.

To see the full list of eligible European countries from which you can send GBP to Kinesis, click here.

What are the fees for depositing GBP?

Kinesis fees for European residents depositing GBP currencies into the Kinesis platform are as below:

  • GBP-to-GBP deposits using FPS/CHAPS transfer: 0.30 GBP

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.

How to deposit the British Pound from an EEA-based account:

Step 1: Click on the ASSETS tab from the left-hand navigation panel and select GBP from the available currency list, then select the ‘Deposit’ option.

Alternatively, you can also find the ‘Deposit’ option in the drop-down menu, located in the top-right corner of your dashboard.

Step 2: As you click the ‘Deposit’ function, a new preferred deposit location for British Pound should appear as the first option.

You will be asked to create your personal bank details in order to deposit GBP into your Kinesis GBP account. 

 

Step 3: When you click ‘Create’, Kinesis will automatically create your Virtual Account with unique bank details. These new account details will include your name, your account number and the sort code.

 

 

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 GBP from another account held in their name.

Step 5: When 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. Once Kinesis has confirmed receipt of your deposited funds, your Kinesis GBP 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 between 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.

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