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Topic: List of banks working welll with exchanges to make withdrawal (Read 519 times)

kekowar (OP)

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List of banks working welll with exchanges to make withdrawal

February 22, 2020, 07:16:40 PM
Last edit: May 15, 2020, 06:44:00 PM by kekowar

Merited by malevolent (3), joniboini (2)

I've been searching for a while and the truth is a complicated task:
Find banks that work well with exchanges to make withdrawals.
For this reason, I would like us to share our experience to avoid problems when making withdrawals from the exchange with the banks.

Working well:

Bitstamp:
n26
Transferwise
Revolut
Pocopay
Bitwala

Kraken
n26
Transferwise

Not working:

Bitstamp
Bunq
Ferratum bank

Kraken
WeSwap
Ferratum bank
Revolut
Monese
Paysera
Bunq
Dipocket
Payooner
Pocopay

Please feel free to share your info to make a great topic.
Thanks!

LeGaulois

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Re: List of banks working welll with exchanges to make withdrawal

February 23, 2020, 08:21:34 PM
Last edit: February 23, 2020, 09:19:13 PM by LeGaulois

Merited by OmegaStarScream (2)

Transferwise doesn't accept transactions related to cryptocurrencies activities so I don't understand how you can list it as working with Kraken.

Then in your not working list, you list Kraken not working with Payoneer. None work with Payoneer, it's not only with Kraken, but Payoneer also doesn't accept cryptos activities.

If a bank works with an exchange it's supposed to work with any decent exchange platform

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Re: List of banks working welll with exchanges to make withdrawal

February 24, 2020, 08:23:05 AM
Last edit: February 24, 2020, 08:45:31 AM by OmegaStarScream

Paysera doesn't allow transactions related to cryptocurrencies either, whether it's from an individual or an exchange. A lot of users got their accounts closed because of trading bitcoin.

From their TOS:

Quote

Prohibited Activities

9.1.11. accepting payments in unregulated and/or unsupervised virtual currency, buying, converting, or managing it in any other ways (the prohibition includes execution or receipt of transfers from virtual currency exchangers);

Exchanges have no way to know which banking platform you're using, so technically, if you're using a valid bank account, your transaction should "go through" no matter which exchange/bank combination you're using but then, of course, if you're breaking their terms of service (as mentioned above), you might end up having your account closed.

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decryptme

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Re: List of banks working welll with exchanges to make withdrawal

March 21, 2020, 05:49:38 AM

Quote from: LeGaulois on February 23, 2020, 08:21:34 PM

Transferwise doesn't accept transactions related to cryptocurrencies activities so I don't understand how you can list it as working with Kraken.

That's why: https://support.kraken.com/hc/en-us/articles/360000382423-Deposits-or-withdrawals-via-third-party-payments-processors-TPPPs (check TransferWise part)

joniboini

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Re: List of banks working welll with exchanges to make withdrawal

March 21, 2020, 01:03:11 PM

Quote from: decryptme on March 21, 2020, 05:49:38 AM

(check TransferWise part)

On that link, Kraken said that deposit is OK but withdrawal isn't (this thread is about withdrawal). So it doesn't really explain why it's listed. Have you tried it on your own and it works?

They don't list it here either: https://support.kraken.com/hc/en-us/articles/360000423043-Fiat-currency-withdrawal-options-fees-minimums-and-processing-times-.

Another link: https://support.kraken.com/hc/en-us/articles/360030946691-Banks-that-don-t-work-with-cryptocurrency-exchanges.

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Re: List of banks working welll with exchanges to make withdrawal

March 21, 2020, 02:57:13 PM

A list like this could be useful, but only if it's user-validated...

I used to be a citizen and a taxpayer. Those days are long gone.

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Re: List of banks working welll with exchanges to make withdrawal

March 21, 2020, 03:44:53 PM
Last edit: March 22, 2020, 12:39:28 PM by NeuroticFish

I think that OP can put Revolut also under Bitstamp. At least I didn't have any issues for more than a year. Rather small amounts though...

Edit: OP looks already inactive; I hope I'm wrong...

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decryptme

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Re: List of banks working welll with exchanges to make withdrawal

March 22, 2020, 02:21:12 AM

Quote from: joniboini on March 21, 2020, 01:03:11 PM

On that link, Kraken said that deposit is OK but withdrawal isn't (this thread is about withdrawal). So it doesn't really explain why it's listed.

You're right, there is an unconsistency in their docs. Anyway I found some confirmation around the web (maybe like OP did): using TW to withdraw from exchanges seems to work despite what TW itself claims.

Quote from: joniboini on March 21, 2020, 01:03:11 PM

Have you tried it on your own and it works?

Not yet, I have no reason to risk my TW account because there are better working alternatives for me.

I like crypto.com having exchange and personal IBAN all-in-one. I don't like/use their eco-system, just doing my Crypto > FIAT jobs there and than SEPA transfer anywhere with peace in mind.

joniboini

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Re: List of banks working welll with exchanges to make withdrawal

March 22, 2020, 03:06:44 AM

Quote from: decryptme on March 22, 2020, 02:21:12 AM

Can you share the link?

I find it odd how Kraken list them as not supported but then people withdraw through it. I don't use Kraken but that sounds as if there's no checking of the withdrawal address/platform before it's processed.

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rexxarofmoknathal

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Re: List of banks working welll with exchanges to make withdrawal

March 22, 2020, 10:11:19 AM

#10

There are two main ways to withdraw crypto using exchanges directly to your bank account, irrespective of where you are in the world. These are SEPA where you get paid in euros and for USD using SWIFT. This article seems to explain a little bit more about withdrawal options, should one be interested in reading https://www.bitdegree.org/tutorials/how-to-cash-out-bitcoin/

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decryptme

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Re: List of banks working welll with exchanges to make withdrawal

March 22, 2020, 05:57:16 PM

#11

Quote from: decryptme on March 22, 2020, 02:21:12 AM

Quote from: joniboini on March 22, 2020, 03:06:44 AM

Can you share the link?

A good starting point: https://www.offshorecorptalk.com/threads/cashing-out-bitcoin-through-swissquote.28182/post-121144

Quote from: joniboini on March 22, 2020, 03:06:44 AM

I find it odd how Kraken list them as not supported but then people withdraw through it.

I agree.

kekowar (OP)

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Re: List of banks working welll with exchanges to make withdrawal

May 10, 2020, 12:36:22 AM

#12

Quote from: NeuroticFish on March 21, 2020, 03:44:53 PM

I think that OP can put Revolut also under Bitstamp. At least I didn't have any issues for more than a year. Rather small amounts though...

Edit: OP looks already inactive; I hope I'm wrong...

Sorry I lost my computer and now I´m recovering.
I´m going to add Revolut.

I´m using at this moment only Bitstamp, if someone have more information about Kraken I can upload.

Thanks I´m going to stay more active.

kekowar (OP)

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Re: List of banks working welll with exchanges to make withdrawal

May 10, 2020, 01:07:04 AM

#13

Also I tried with Ferratum bank with success in Bitstamp, but the last month they declined all transfers.
A few day ago Ferratum bank sent a mail saying they will close their bank.

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Re: List of banks working welll with exchanges to make withdrawal

May 10, 2020, 09:03:03 AM

#14

According to the last information we have polish ING bank allows crypto related transactions for individuals.

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Re: List of banks working welll with exchanges to make withdrawal

May 10, 2020, 09:59:52 AM

#15

Quote from: AlexPCS on May 10, 2020, 09:03:03 AM

According to the last information we have polish ING bank allows crypto related transactions for individuals.

Maybe you could add the necessary details such as their website, do they accept non-EU customers, what kind of KYC that they need, etc.

Looks like this was a local bank for Polish users and not US/EU related bank services? I'm not sure but I think OP is targeting US customers.

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kekowar (OP)

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Re: List of banks working welll with exchanges to make withdrawal

May 10, 2020, 05:07:24 PM

#16

Quote from: AlexPCS on May 10, 2020, 09:03:03 AM

According to the last information we have polish ING bank allows crypto related transactions for individuals.

Could you test it with some exchange? For experience, what banks policy say with reality is not the same.

Quote from: joniboini on May 10, 2020, 09:59:52 AM

I'm not sure but I think OP is targeting US customers.

I´m from Europe, but I think this list could be help to everyone.

To keep it working I confirmed at May 8th 2020,
N26 and Transferwise are working well with Bitstamp

Next week I´m going to test ING Bank and Revolut.
If anyone has other banks please share with us to help the community.

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Re: List of banks working welll with exchanges to make withdrawal

May 10, 2020, 07:36:20 PM

#17

Quote from: joniboini on May 10, 2020, 09:59:52 AM

They operate in multiple European countries. Anyone who legally lives in the EU should be able to have an account with them.

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Re: List of banks working welll with exchanges to make withdrawal

May 10, 2020, 08:36:27 PM

#18

Quote from: malevolent on May 10, 2020, 07:36:20 PM

...

The person needs to live in the same country where ING operates.
For example, to open an account with ING.es you need to be a Spanish resident, with ING.fr only French residents are accepted, etc, etc and unfortunately they don't operate everywhere in Europe

Quote from: kekowar on May 10, 2020, 05:07:24 PM

Quote from: AlexPCS on May 10, 2020, 09:03:03 AM

According to the last information we have polish ING bank allows crypto related transactions for individuals.

Could you test it with some exchange? For experience, what banks policy say with reality is not the same.

ING works fine with cryptocurrencies exchange platforms, at least it was back from 2015 to 2017 but there is no reason the things be different

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kekowar (OP)

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Re: List of banks working welll with exchanges to make withdrawal

May 15, 2020, 06:47:45 PM

#19

Update!

This week I tested withdrawals from bitstamp to :
Revolut
Pocopay
Bitwala

successfully.

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Re: List of banks working welll with exchanges to make withdrawal

May 16, 2020, 08:48:47 PM

#20

Kraken does not send to Revolut, you won't be able to add Revolut IBAN

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