How to Deposit EUR Using SEPA Open Banking

 

1. What is SEPA Open Banking? 

SEPA Open Banking is a convenient and secure online banking payment method that allows users to complete payments without entering complex recipient information. This method supports SEPA and SEPA Instant, but whether SEPA Instant is supported depends on whether your bank offers this service.

 

2. Fees and Limits

Please note: The actual fees and limits are subject to the display in the KuCoin system.

 

3. How to Deposit EUR Using SEPA Open Banking?

Step 1: Access KuCoin Website or App Visit the official KuCoin website or open the KuCoin app, and log in to your account that has completed KYC verification

Step 2: Select Deposit EUR

• For Web Version:

Please click on "Buy Crypto" in the top navigation bar, then select "Fiat Deposit" to enter the fiat deposit page.

• For App Version:

Please tap on "Deposit" and then select "Fiat Deposit" to access the fiat deposit page.

• The following steps apply to both the website and app:

Choose "EUR" as the fiat currency and select "SEPA Open Banking" to enter the SEPA Online Banking deposit page.

Step 3: Enter Deposit Amount

Enter your deposit amount and ensure it is within the single-order limit, then click “Next”.

 

Step 4: Click "Preview Order" to Review Your KuCoin Deposit Order 

• On the order preview page, read and agree to the related terms, then click "Confirm." You will be redirected to the bank's secure verification page for authentication.

Please note: Before confirming the payment, please verify that the deposit transaction is initiated from your KuCoin account. Avoid trusting any third-party software's transaction guides. 

Step 5: You will be redirected to the bank selection page to authorize the transfer.

Select your bank and complete the account authorization to proceed with the transfer. Please note that this authorization is one-time per transaction — each transfer requires your approval.

Step 6: Wait for the Funds to Be Credited 

• Once you have completed the payment, please be patient. After the funds are received by KuCoin, they will be processed and credited to your account immediately. The credit time will depend on the payment method you selected and your bank's processing efficiency. During the wait, your deposit order status will be shown as "In Progress." 

 

4. FAQ

4.1 What is the difference between SEPA Open Banking and Bank Transfer (SEPA)? 

SEPA Open Banking is a more convenient and secure online banking payment method that allows users to complete payments without manually entering complex recipient details. In contrast, Bank Transfer (SEPA) requires users to input this information themselves to complete the transfer.

4.2 Why hasn't my EUR deposit via SEPA Open Banking been credited yet?

Usually, orders deposited via SEPA Open Banking are completed within 2 working days, depending on your bank's processing speed. First, confirm whether your payment has been completed and the transfer was successful. If more than 2 working days have passed and the funds still haven’t been credited to your KuCoin account, please contact customer support for further assistance.

4.3 Why does my EUR deposit order still show as "Processing" even though I’ve already received a refund?

Funds deposited via SEPA Open Banking typically arrive within 2 working days and are marked as "Successful" once received. The order status will update once the funds are credited. If you have already received a refund, ignore the "Processing" status. The status will be updated to "Failed" or "Expired" once we receive notification from the bank.

4.4 Why was my EUR deposit request rejected?

If your deposit order was rejected, we recommend retrying the deposit process or using another bank account. Please ensure the following: The transaction is initiated from a verified bank account that belongs to you. You are aware of and comply with the bank's transaction limits.

4.5 Why do I need to complete account verification when withdrawing EUR, even though I’ve already deposited via SEPA Open Banking?

KuCoin follows compliance regulations, and withdrawal account verification is one of the basic measures for anti-money laundering (AML). You can complete the verification as follows: Use KuCoin’s fiat withdrawal verification feature. Use Bank Transfer (SEPA) via your intended withdrawal bank account for a small deposit. Once one of these steps is completed, you can freely withdraw your funds.

4.6 Why does the platform not show my deposit order even though I successfully paid via SEPA Open Banking?

This is typically because you didn’t initiate a new deposit order on the KuCoin deposit page but instead used payment information from a previously successful transaction. Please note that all SEPA Open Banking deposits must be initiated through the KuCoin deposit page and completed via online banking. Direct transfers to the previous recipient account will not be recognized by the system. If you need further help, please contact customer support.

Note: The actual process may be updated from time to time. The above instructions are for reference only. Please follow the steps and information shown on the actual page.