Depositing EUR with Easy Bank Transfer (SEPA)
1. What is Easy Bank Transfer (SEPA)?
2. How to Use Easy Bank Transfer (SEPA)?
3. Differences Between Easy Bank Transfer (SEPA) and Regular Bank Transfers (SEPA)
1. What is Easy Bank Transfer (SEPA)?
Easy Bank Transfer is a quick and secure payment method via online banking that does not require users to input complicated payee information. Easy Bank Transfer supports both SEPA and SEPA Instant, but this also depends on whether your issuing bank supports SEPA Instant.
2. How to Use Easy Bank Transfer (SEPA)?
i. Log in to KuCoin, go to the Fiat Deposit page, and select EUR deposits using Easy Bank Transfer (SEPA).
ii. Enter the amount you wish to deposit, and add your bank account (once added, future transactions can be completed quickly).
iii. Select your bank card’s issuing country, choose your bank, and enter your bank account details.
iv. Verify your account through your bank’s secure login process.
v. Authorize the transfer of EUR from your bank account to KuCoin.
3. Differences Between Easy Bank Transfer (SEPA) and Regular Bank Transfers (SEPA)
Easy Bank Transfer is a more efficient payment method. After successfully completing your first EUR deposit, future EUR deposits can be quickly processed. On the other hand, Regular Bank Transfers (SEPA) would require you to manually input the payee’s account information each time you wish to complete a transaction.
4. Frequently Asked Questions
i. Why hasn’t the EUR I deposited via Easy Bank Transfer arrived yet?
Generally, orders for EUR deposits using Easy Bank Transfer (SEPA) are completed within 2 business days, depending on your bank’s network. First, check that your payment was completed and the transfer was successful. If you still have not received your EUR after 2 business days, please contact customer support for further assistance.
ii. Why is my EUR deposit via Easy Bank Transfer still showing up as "In Progress" even though I’ve received a refund?
Please note that funds deposited using Easy Bank Transfer typically arrive in your KuCoin account within 2 business days. The order status will only change to "Successful" once the funds are received. If you have already received a refund, you may disregard the "In Progress" status. The order status will be updated as unsuccessful or expired once we’ve received a notification from the bank.
iii. Why was my EUR deposit request rejected?
If your deposit order was rejected, we recommend trying the deposit process again or using another bank account. Before doing so, please also check that:
• The transaction is being made from a verified bank account under your name.
• You are aware of and within your bank account’s transaction limits.
iv. Why do I need to complete a deposit or withdrawal account verification when withdrawing my EUR, even though I’ve already completed a deposit using Easy Bank Transfer (SEPA)?
KuCoin follows compliance regulations, and withdrawal account verification is a basic anti-money laundering measure. You can verify your withdrawal account using KuCoin’s fiat fund withdrawal verification feature or by making a small deposit via Regular Bank Transfer (SEPA) with the bank account you plan to use for withdrawals. Once you’ve done either step, your funds can be withdrawn freely.