As a government regulated service and in order to ensure the security of Kriptomat users’ accounts and transactions, Kriptomat may decline certain EUR deposit transactions.
Transactions can be also declined by our banking partners.
Possible reasons for Kriptomat returning the funds are:
- 3rd party transfers - transfers that originate from a bank account which are titled in a name different from the owner of the Kriptomat Account. Third-party transfers are not allowed on Kriptomat, so please make sure that all transfers to your Kriptomat account are made from a bank account held in your name.
If a deposit is made from a bank account registered to a different person than your Kriptomat account, it will be automatically sent back to the original bank account.
- Declined KYC - You did not pass your identity verification or you got declined during the ongoing periodical background check for existing users.
- Amount lower than 35,00 EUR - Minimum deposit is 35,00 EUR. Transactions lower than this will be automatically sent back to the original bank account.
- Failed EDD (Enhanced Due Diligence) or other compliance checks check - Once a user exceeds 15.000,00 EUR threshold in deposits, we are obliged to make a one-time additional EDD check or other checks (IDCP, monitoring). If you fail to pass the check we will not be able to accept deposits from you.
- Suspicious and potentially fraudulent activities - if Kriptomat risk team observes any kind of suspicious activity.
- You made SWIFT bank transfer - SWIFT bank transfers are currently not supported by Kriptomat. You can use the SEPA payment method instead.
Possible reasons for our banking partners returning the funds are:
- Wrong recipient details - you did not enter the correct company details or used the wrong ones.
- Fast, Urgent, Tele2 transaction - we accept only regular SEPA transactions. If you use additional options such as fast, urgent, tele2 there is a chance your transactions will be returned to you.
- Suspicious transaction - if our partner's compliance team observes any kind of suspicious activity or considers you a high-risk client
Every return of funds may incur extra transaction fees.
NOTE: At the moment only supported FIAT currency is EUR. Kindly, make the deposit in EUR.
Do you still have any questions? Use the support chat to contact our support team or send us an email [email protected]