You can deposit GBP from your bank account to the BTSE platform with just a few clicks.
Step 1: Initiate Deposit Process
Hover over the [Wallets] button found at the top right hand corner of the page and click on [Deposit].
Step 2: Select Currency
Select [Fiat] and click on [GBP].
Step 3: Initiate Deposit via Bank Transfer
Select [Bank Transfer (FPS)] and click [Next].
Step 4: Set Up FPS Transfer
Enter the bank account information provided in this window, on your e-Banking platform in order to initiate the FPS transfer.
Step 5: Receipt of Funds
After BTSE has received and processed your payment, the deposited funds will be reflected in your BTSE account.
Fees
BTSE does not charge any fees for processing deposits but your bank may charge for processing outbound payments. Please check with your bank to learn more.
BTSE FPS Deposit Limits
Frequently Asked Questions
Q: What bank account types are eligible for depositing funds into my BTSE account?
A: BTSE only accepts deposits from bank accounts that are solely registered in your name. Deposits from joint accounts and trust fund accounts are not accepted.
Q: What will happen if funds are sent from bank accounts not solely registered in my name?
A: BTSE will decline the deposit and return the funds back to the originating bank account. However, please note that BTSE will not be responsible for any fees incurred by the refund transaction.
Q:How long does it take to process bank deposits?
A: The processing time for bank deposits can vary due to several factors, such as the payment network utilized and the verification status of your bank account.
Network
An FPS transaction typically takes seconds to process and settle between the banks. However, processing time may vary based on the performance of the network.
Bank account verification status
In order to comply with Anti-Money Laundering (AML) regulations, BTSE must ensure that all funds transferred into your BTSE account belong to you. Deposits originating from an unrecognized bank account may therefore take 1-2 business days to verify before funds are credited into your account. Once the bank account has been verified, all subsequent deposits will be credited into your account within seconds of the transfer initiation.
Q: What is bank account verification?
A: In order to comply with AML regulations, BTSE must ensure that all funds transferred into your BTSE account belong to you. Bank account verification is a mandatory process conducted by BTSE that allows us to confirm the source of funds and any unrecognized sources will need to be verified.
Q: What happens if my bank account is declined by BTSE?
A: If a bank account is declined by BTSE, the transferred funds will be returned to the originating bank account. Additionally, any subsequent deposits attempted from an account that has previously been declined will be returned.
Q: Can I use third-party payment processors, such as Wise. Inc, to make deposits into my BTSE account?
A: BTSE does not accept deposits from third-party payment processors, including Wise, Inc. This is because the source of funds from these processors cannot be adequately verified, aligning with BTSE's compliance policies. Furthermore, please be aware that BTSE is unable to refund deposits made through third-party payment processors due to the inability to confirm fund ownership.
Q: I just deposited fiat assets on my BTSE account. Why can't I withdraw them?
A: In line with the industry's anti-money laundering measures, BTSE has a 48-hour withdrawal holding period put in place immediately after each user's first fiat deposit transaction.
During this period the user will not be able to conduct fiat/crypto withdrawals, and will not be able to use the "send to" function. All withdrawal/send features will be re-enabled after the 48-hour holding period, and after BTSE verifies the source of the funds. Subsequent fiat deposit transactions will not have a holding period.
