Fiat Funding

Fiat Funding Methods

Fiat money is a currency without intrinsic value that has been established as money, often by government regulation. Fiat money does not have use value, and has value only because a government maintains its value, or because parties engaging in exchange agree on its value. The Euro and US dollar are examples of fiat money.

Only KYC-verified users can deposit and withdraw fiat money. In order to verify your account, go to your Profile page and choose the "Verification" tab, where you need to provide personal information and documentation proving your identity.

SEPA stands for Single Euro Payments Area. The idea of SEPA is to make it easier to transfer money and electronic payments between the countries within the SEPA area.This means a smoother, borderless payments zone.

SEPA payments can only be processed in Euro. The SEPA process cannot be used for payment methods in other European currencies. An international transfer is still required for such transactions.

The countries, which participate in the SEPA area are: the 28 member states of the European Union*, the four member states of the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland), Monaco and San Marino.

*Austria, Germany, Netherlands, Belgium, Greece, Poland, Bulgaria, Hungary, Portugal, Cyprus, Ireland, Romania, Czech Republic, Italy, Slovakia, Denmark, Latvia, Slovenia, Estonia, Lithuania, Spain, Finland, Luxembourg, Sweden, France, Malta, United Kingdom, Croatia.

SWIFT stands for Society for Worldwide Interbank Financial Telecommunications.

The SWIFT international payment network is one of the largest secure financial messaging systems in the world. It is used for international payments.

On Bitvalex you can use SWIFT bank transfers for:

  • USD deposits and withdrawals;
  • EUR deposits and withdrawals from and to bank accounts outside of SEPA (the Single Euro Payments Area, in which the 28 member states of the European Union, Iceland, Liechtenstein, Norway, Switzerland, Monaco and San Marino participate).

AdvCash is a global payment system, which provides a variety of global and local funding options, such as SEPA, WIRE, local bank transfers. You can deposit EUR or USD from your AdvCash account to ours or vice versa. 

In order to make deposits and withdrawals using AdvCash, you need to first create an account at AdvCash and get verified. Usually takes a few hours.

Log in or sign up from here: https://advcash.com/en/

Yes, you can use your normal Visa or MasterCard to deposit funds into your Bitvalex account and what is more you can even sell your Bitcoin or any other cryptocurrency we support and send the money to your bank card instantly.

All international payment card transfers rely on automatic conversions in order to make overseas payments successful. If overseas transactions are enabled on a payment card, the funds are automatically converted to the required currency at bank rates. Therefore, you can use your Visa/Mastercard to deposit or withdraw any local currency.

Third-party transfers are those transfers that originate from or are sent to a bank account titled in a name different from the Account Owner's.

Third-party transfers are not allowed on our platform, so please make sure that the bank accounts used for all bank transfers to and from your Bitvalex account are in your name.

If a deposit is made from a bank account registered to a different person than your Bitvalex account, it will be automatically sent back to the original bank account. This may incur extra transaction fees, which the original sender must cover.
Third-party withdrawals will be rejected.

Fiat Deposits

There are four different options to deposit EUR:

  1. SEPA bank transfer - available to all clients with a EUR bank account in one of the 28 EU member states and a few other countries*;
  2. WIRE bank transfer - can be used from outside of the SEPA zone;
  3. Visa/Mastercard - you can deposit EUR with a normal debit or credit card;
  4. AdvCash - charge your BItvalex account immediately from your AdvCash account.

*Austria, Germany, Netherlands, Belgium, Greece, Poland, Bulgaria, Hungary, Portugal, Cyprus, Ireland, Romania, Czech Republic, Italy, Slovakia, Denmark, Latvia, Slovenia, Estonia, Lithuania, Spain, Finland, Luxembourg, Sweden, France, Malta, United Kingdom, Croatia, Iceland, Monaco, Switzerland, Liechtenstein, Norway, and San Marino.

There are three different options to deposit USD to your Bitvalex account:

  1. WIRE/SWIFT bank transfer - can be used from anywhere in the world;
  2. Visa/Mastercard - you can deposit EUR with a normal debit or credit card;
  3. AdvCash - charge your BItvalex account immediately from your AdvCash account.

In order to make a deposit, first go to the "Funds" page, choose whether you want to deposit EUR or USD, choose one of the available funding methods and follow the instructions.

  1. SEPA bank transfer (available only for EUR deposits) - we will provide you with all required information to make a bank transfer to our bank account, then you need to go to your bank or online banking and enter the data according to our instructions. Please note that you need to send the exact amount stated in our instructions and to provide the exact transaction ID as reference of the payment in order to be able to locate your deposit automatically.*
  2. WIRE/SWIFT bank transfer - we will provide you with all required information to make a bank transfer to our bank account, then you need to go to your bank or online banking and enter the data according to our instructions. Please note that you need to send the exact amount stated in our instructions and to provide the exact transaction ID as reference of the payment in order to be able to locate your deposit automatically.*
  3. Visa/MasterCard - you will be prompted to enter your card number, expiration date, exact name as written on card and your CVV code (the three digit code at the back of your card).**
  4. AdvCash - once you enter the amount you would like to deposit, you will be redirected to AdvCash website to log into your account and confirm the transaction.

*If you fail to send the exact amount or to provide the full transaction ID as a reference to the bank transfer, there might be significant delays in crediting your deposited amount. The transaction ID is unique for every deposit!

**Bitvalex is PCI DSS compliant, which means that we have passed a stringent procedure that allows us to process credit and debit card payments securely.

Deposits via SEPA usually take 1-2 working days to get credited on your Bitvalex account, but sometimes might take up to 5 days. WIRE/SWIFT deposits might take anywhere from 3 to 5 working days and in rare cases up to 14 days until they get credited on your Bitvalex account.

Deposits with Visa/Mastercard are usually processed immediately.

Deposits with AdvCash are usually processed immediately.

Fiat Withdrawals

There are four different options to withdraw EUR:

  1. SEPA bank transfer - if you have a EUR bank account in one of the 28 EU member states and a few other countries*;
  2. WIRE bank transfer - if you have a EUR account outside of the SEPA zone;
  3. Visa/Mastercard - you can withdraw EUR to your normal debit or credit card immediately;
  4. AdvCash - you can charge your AdvCash account in no time.

*Austria, Germany, Netherlands, Belgium, Greece, Poland, Bulgaria, Hungary, Portugal, Cyprus, Ireland, Romania, Czech Republic, Italy, Slovakia, Denmark, Latvia, Slovenia, Estonia, Lithuania, Spain, Finland, Luxembourg, Sweden, France, Malta, United Kingdom, Croatia, Iceland, Monaco, Switzerland, Liechtenstein, Norway, and San Marino.

There are three different options to withdraw USD from your Bitvalex account:

  1. WIRE/SWIFT bank transfer - can be sent to an account anywhere in the world;
  2. Visa/Mastercard - you can top up your normal credit or debit card with USD;
  3. AdvCash - you can charge your AdvCash account in no time.

Yes, you can. If you already have a payment card added to your account please follow the steps below to initiate the process:

  1. Go to the "FUNDS" page, choose the EUR or USD and click "withdraw" via Visa/Mastercard;
  2. Fill in the amount that you would like to withdraw and enter your card details;
  3. The withdrawn amount would be immediately available to you to start spending or maybe to cover your credit card debt without any hassle;

Important: If your card is not denominated in either EUR or USD, do not worry, the amounts would be automatically converted to your card currency.

In order to withdraw FIAT money, first go to the "Funds" page, choose whether you want to withdraw EUR or USD, choose one of the available methods and follow the instructions:

1. SEPA bank transfer (available only for EUR withdrawals) - if you have an account in any of the SEPA countries*, you can withdraw EUR via SEPA bank transfer. You need to provide only:

  • your IBAN;
  • amount that you want to withdraw.

2. WIRE/SWIFT bank transfer - if you want to withdraw EUR outside of the SEPA region or USD, then you need to choose this option. You must provide:

  • Your account number;
  • SWIFT code;
  • Bank name;
  • Bank address;
  • Amount that you want to withdraw.

3. Visa/MasterCard - you can withdraw EUR or USD to your normal debit or credit card. The withdrawn amount would be immediately available to you to start spending or maybe to cover your credit card debt. You need to provide:

  • Credit or debit card number;
  • Expiration date;
  • Amount you want to withdraw.

4. AdvCash - you need to provide your registered email address with AdvCash and the amount you would like to withdraw.

If you have enabled 2FA, you will be prompted to enter a one-time password from your Google Authenticator or received SMS.

*Austria, Germany, Netherlands, Belgium, Greece, Poland, Bulgaria, Hungary, Portugal, Cyprus, Ireland, Romania, Czech Republic, Italy, Slovakia, Denmark, Latvia, Slovenia, Estonia, Lithuania, Spain, Finland, Luxembourg, Sweden, France, Malta, United Kingdom, Croatia, Iceland, Monaco, Switzerland, Liechtenstein, Norway, and San Marino.

SEPA withdrawals usually take up to 1-2 working days, but might take up to 5 days until you receive the funds in your bank account.

Withdrawals via WIRE/SWIFT bank transfers might take anywhere from 3 to 5 working days and in rare cases up to 14 days until you receive the funds in your account.

Withdrawals with AdvCash are usually processed immediately.

Withdrawals to Visa/Mastercard are usually processed immediately.

Fiat Funding Limits

Depending on whether you have passed KYC verification and whether your account is a personal or a corporate one, the 24-hour funding limits differ.

Unverified

  • Fiat Deposits - unverified accounts cannot deposit fiat;
  • Fiat Withdrawals - unverified accounts cannot withdraw fiat;

Verified Personal

  • Fiat Deposits - Equivalent of 25,000 EUR;
  • Fiat Withdrawals - Equivalent of 25,000 EUR.

Verified Corporate

  • Fiat Deposits - Equivalent of 100,000 EUR;
  • Fiat Withdrawals - Equivalent of 100,000 EUR.

Your total daily withdrawals are recalculated in USD at the moment of your withdrawal and compared to your account limits. Should you exceed your daily limit, your deposits will be put on hold until the 24-hour period passes and the withdrawals won't be processed.

The minimum deposit varies depending on the funding method:

  • SEPA bank transfer - 100 EUR;
  • Wire bank transfer - 150 EUR/USD;
  • Visa/Mastercard - 50 EUR/USD;
  • AdvCash - 50 EUR/USD.

The maximum deposit amounts vary depending on the funding limit set according to your KYC verification, except for Visa/Mastercard, where the limit is set at 5,000 EUR/USD per day.

The minimum withdrawals you can make vary according to the withdrawal method:

  • SEPA bank transfer - 20 EUR;
  • WIRE bank transfer - 150 EUR/USD;
  • Visa/Mastercard - 50 EUR/USD;
  • AdvCash - 50 EUR/USD.

The maximum amounts you can withdraw depend on the limit which is set according to whether you are verified or not and whether your account is personal or corporate, except for Visa/MasterCard. For withdrawals, there is an overreaching limit for Visa/MasterCard inbound transfers of 2,000 EUR or equivalent per day and 50,000 EUR per month. This means that if you sent money to your Visa or Mastercard from another source, you need to take into consideration that in total you cannot exceed the above mentioned daily and monthly limits.

You need to have passed KYC Verification first. Please contact [email protected] and provide information on the reason why you would like to increase your funding limits and how much we have to raise them.

Troubleshoot Funding Problems

Some banks need corresponding or intermediary banks to process wire transfers, and this may incur additional charges. The intermediary bank will deduct the fee from the transferred amount, which is why the amount you receive on your Bitvalex account is less than the amount you sent. The fee charged on our end is always stated in the “Transactions” section on your account. For more details on intermediary bank fees, please contact your bank.

Make sure that:

  • Your card is eligible for international transactions;
  • You are enrolled in the 3D Secure program;
  • You have enough funds in the account to complete the transaction.

If the problem persists, please contact us at [email protected] or via the support system from your profile.