KuCoin Integrates SEPA for Simpler Fiat On-Ramp Services
SEPA is a single euro payment system created by the European Union. By supporting SEPA payment, KuCoin provides the easiest fiat-on-ramp services for European users by depositing EUR for crypto purchases. Currently, users from the 36 member states can deposit EUR at KuCoin with SEPA and then use the balance of your KuCoin account to purchase crypto assets such as USDT through Fast Buy.
In this blog, we will elaborate on the newly launched SEPA function and guide you through the process of how to get started with depositing EUR via the SEPA on KuCoin.
1. Easy to use
SEPA is the most popular payment method in Europe. KuCoin Fiat account supports EUR deposits via SEPA, which brings great convenience for EU citizens to buy cryptocurrencies with EUR.
2. Zero fees
Users can deposit EUR to KuCoin with zero fees via SEPA.
3. Up to 1 million EUR in a single deposit
A higher upper limit of a single deposit with up to 1 million EUR.
4. Security
The deposit of EUR via SEPA without third-party involvement is simpler and more secure.
5. Fast
KuCoin supports SEPA Instant, which means users can complete deposits 24/7/365 within seconds.
6. Support EUR withdrawal service
The withdrawal service of EUR from the KuCoin Fiat Account to IBAN accounts will be available in near future.
Tutorial on how to deposit EUR via SEPA and buy crypto with balance
KuCoin Web:
Step 1. Visit KuCoin’s official website and log into your KuCoin account.
Step 2. Complete the KYC verification.
Click on the avatar to enter your profile page, then click ‘KYC Verification’. Follow the instructions to complete the KYC2 process. (Please make sure you complete the KYC2 verification before using the SEPA payment method as it is compulsory.)
Step 3. Deposit EUR into your Main account.
3.1 To enter your Main account, please click ‘Assets’ >> ‘Main Account’.
3.2 Then click ‘Deposit’ >> ‘Fiat’ and choose EUR fiat.
3.3 Click ‘Bank Transfer (SEPA)’, then you will get the payment details. You can also choose to send over the ‘payment details’ via your bounded email. If your account is not yet bound to an email, you will be prompted to complete the step to receive the payment details.
3.4 Please read your payment details carefully to complete a transfer from your bank account.
(You must include the ‘Reference Note’ provided by KuCoin in your SEPA transfers to identify your transaction. When you make SEPA transfers, please copy and paste the KuCoin provided reference note. Please Do Not add additional words as following incorrect reference note format. )
Incorrect format:
1. U17E7678A325 – John Doe
2. Reference Note: U17E7678A325
3. U17E7678A325 KuCoin
Correct format (example): U17E7678A325
Kindly note:
Is it possible to make a SWIFT transfer instead?
Please note that bank transfers through SWIFT are not supported. Additional fees may incur, and it may take longer to return the funds to your account in this case. As such, please confirm that you are NOT using SWIFT when you make the transfer.
3.5 Once the EUR funds are deposited into your KuCoin account, KuCoin will notify you via text message and email.
Step 4. Users can convert fiat deposits into cryptos on the Fast Buy page. You can use the balance in your KuCoin account to directly purchase crypto assets such as USDT.
4.1 From the KuCoin homepage, go to ‘Buy Crypto’ and click ‘Fast Buy’.
4.2 Select the crypto you want to buy and enter the amount of EUR you want to purchase.
4.3 Click ‘Balance’ to complete the crypto purchase with your fiat.
4.4 You’ll get a receipt when you finish a purchase. Click ‘Account Details’ to see the record of your purchase under the Main account.
KuCoin App:
Step 1. Download the KuCoin App and log into your account.
Step 2. Complete KYC verification.
Tap the avatar to enter your profile page. Tap ‘KYC Verification’ and follow the instructions to complete the KYC2 process. (Please make sure you complete the KYC2 verification before using Fiat Account as it is compulsory.)
Step 3. Select the EUR to deposit and complete the payment.
3.1 Go to ‘Assets’ >> ‘Deposit’ >> ‘Fiat currency’, and select EUR to deposit.
3.2 Click ‘Bank Transfer (SEPA)’, then you will get the payment details.
You can also choose to send over the ‘payment details’ via your bounded email. If your account is not yet bound to an email, you will be prompted to complete the step to receive the payment details.
3.3 Please read your payment details carefully to complete a transfer from your bank account.
(You must include the ‘Reference Note’ provided by KuCoin in your SEPA transfers to identify your transaction. When you make SEPA transfers, please copy and paste the KuCoin provided reference note. Please Do Not add additional words as following incorrect reference note format. )
Incorrect format:
1. U17E7678A325 – John Doe
2. Reference Note: U17E7678A325
3. U17E7678A325 KuCoin
Correct format (example): U17E7678A325
Kindly note:
Is it possible to make a SWIFT transfer instead?
Please note that bank transfers through SWIFT are not supported. Additional fees may incur, and it may take longer to return the funds to your account in this case. As such, please confirm that you are NOT using SWIFT when you make the transfer.
3.4 Once the EUR funds are deposited into your KuCoin account, KuCoin will notify you via text message and email. You also can check the order details in the upper right corner of the ‘Deposit EUR’.
Step 4. Users can convert fiat deposits into cryptos on the ‘Buy Crypto’>>’Fast Trade’ page. You can use the balance in a KuCoin account to directly purchase crypto assets such as USDT.
If you have any further inquiries regarding the SEPA deposit, please contact us: support@kucoin.com.
Join the quiz to share 1000 USDT rewards
To show KuCoin's gratitude to our dear readers, we invite you to click on the Mini-quiz to answer THREE short questions about the SEPA during 10:00:00 on January 24, 2022 to 10:00:00 on January 30, 2022 (UTC). Each participant needs to choose all the correct answers and deposit at least 5 EUR or more via SEPA within the activity time, then fill in your UID for a chance to win a share of 1000 USDT.
Note:
1. Rewards will be distributed within 14 working days after the activity ends.
2. The answers to the questions can be found in this blog.
3. KuCoin reserves all the rights for the final explanation to the blog.