All Collections
Funding - EUR Deposit and Withdrawal
How does Kriptomat process deposits via Intermediary Banks?
How does Kriptomat process deposits via Intermediary Banks?

An overview of how Kriptomat processes deposits that are made via intermediary banks.

Kriptomat Support Team avatar
Written by Kriptomat Support Team
Updated over a week ago

Kriptomat, as a licensed and regulated Cryptocurrency Exchange, needs to abide by the same financial laws and regulations as banks do.

For that reason, we do not process 3rd party transactions and only allow deposits and withdrawals to or from a verified bank account.

A verified bank account is an account you used to make a successful SEPA deposit towards Kriptomat, at least once, and it is under your ownership.

Knowing that certain digital or “challenger” and “neo“ banks (such as Revolut, Payoneer, and some traditional banks) use intermediary banks to process transactions; we felt the need to address this so all our customers are fully informed.

What is an Intermediary Bank?

An intermediary bank works as a middleman between the remitting bank and the beneficiary bank. An intermediary bank is often required for international payments occurring between two banks, usually from different countries, whereas one bank may not have an established financial relationship in that particular country.

Intermediary banks are not supported by Kriptomat according to AML rules and regulations; this is characterized as an infringement of the latter and can be considered as 3rd party payment.

Kriptomat does not accept 3rd party payments.

How can my deposit via Intermediary Bank be accepted and processed?

For a deposit done via an Intermediary bank to be accepted, it should contain the information below or it will be automatically declined:

  • Full name of the bank account holder -- The actual sender of the funds, in this case, the Kriptomat customer.

  • The personal IBAN of the sender -- It means the IBAN you see on your personal account should be included in the transfer details.

Any deposits that do not follow these guidelines will be automatically rejected by our bank partners and be sent back to the same IBAN they arrived from*.

*Kriptomat will reject and send the deposit to the IBAN that it came from. If the deposit came from an Intermediary bank without the above-mentioned information it will simply be sent back to the same IBAN, and the customer holds sole responsibility to contact the intermediary bank or their bank if the deposit does not reach their account in the foreseen time frame of 1-5 working days.

NOTE: Every return of funds may incur extra transaction fees.


Do you still have any questions? Use the support chat to contact our support team or send us an email [email protected]

Did this answer your question?