How to Complete SEPA Withdrawal Bank Account Verification
1. Why Do I Need to Verify My Withdrawal Bank Account When Withdrawing EUR?
2. How to Complete Withdrawal Bank Account Verification
1. Why Do I Need to Verify My Withdrawal Bank Account When Withdrawing EUR?
In order to comply with the Anti-Money Laundering (AML) regulations and to safeguard users' funds, it is necessary to verify that the withdrawals have reached the user's own account. This practice is standard and common in terms of compliance. Simply complete the withdrawal account verification once and enjoy a smoother SEPA withdrawal service.
2. How to Complete Withdrawal Bank Account Verification
(1) Go to KuCoin SEPA withdrawal page.
(2) Choose EUR and Bank Transfer (SEPA).
(3) Add a SEPA withdrawal bank account, the status of the first added is “Unverified”.
(4) Click on the added bank account to enter the account verification process.
(5) There are two types of verification:
- Complete a EUR top-up through Regular Bank Transfer (SEPA) using the bank account you added.
- Submit supporting bank account information for a manual review of your withdrawal account.
(6) After completing the above steps, wait for the account verification results.
3. FAQ
(1) How long does it usually take to complete this validation?
- If you choose the top-up method to complete the verification, the verification will be completed automatically after the funds are credited to your KuCoin account. SEPA transfers are usually credited within 2 business days.
- If you choose to submit your information to complete the verification, it will generally be completed about one business day after you submit it.
(2) I had a successful top up before adding my bank account. Why is the verification not done automatically?
- Please note that the verification must be done after adding the withdrawal bank account for it to be valid. You must first complete the addition of the withdrawal bank account and then select the verification method for verification.
(3) How do I increase the approval rate for submitting information to verify withdrawal accounts?
- Please upload a bank statement that matches the IBAN of the withdrawal account and clearly displays the account holder's details. Submitting additional statements from this account, including records of incoming funds, will help expedite the review process.