SEPA
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Wirex Adds SEPA Instant and Faster Payments to Its Crypto Platform

Wirex has introduced Single Euro Payments Area (SEPA) Instant and Faster Payments to its crypto platform, allowing customers in the UK and EEA to transfer British Pounds and Euros more easily between their Wirex and bank accounts.

Wirex has partnered with digital payment infrastructure provider, Modulr, to introduce deposit and withdrawal methods, SEPA and Faster Payments, to its UK and EEA users.

In addition to the debit/credit card top-up method already facilitated by the platform, the addition will grant customers more flexibility to choose how they wish to transfer funds in and out of their Wirex account.

SEPA is a popular method for bank transfers and will provide an on/off-ramp for UK and EEA Wirex users to move EUR directly between the platform and their bank account.

Users activating a Euro wallet within the Wirex app will be able to access a unique IBAN and BIC for transferring from their bank account to Wirex, as well as send Euros to compatible bank accounts.

Faster Payments allow UK users to send and receive GBP to/from their Wirex and bank accounts. Users will get their own unique sort code and account number from Wirex and can benefit from high transaction limits and zero fees.

With even more ways to transfer funds in, users can instantly begin buying, holding, exchanging or selling multiple traditional and cryptocurrencies from within the Wirex app. Alternatively, they can then spend these currencies in everyday life using the Wirex Mastercard.

Pavel Matveev, CEO and Co-Founder, Wirex
Pavel Matveev, CEO and co-founder, Wirex

“Offering additional choice and flexibility with the introduction of new top-up and withdrawal methods puts our Wirex users in charge of their money,” comments the platform’s CEO and co-founder, Pavel Matveev.

“The UK and EEA regions make up the majority of our customer base, and with SEPA and Faster Payments being widely used, we know that this change will have a huge impact on them,” Matveev continues.

According to reports, Wirex intends to deploy Plaid, an additional, well-known top-up and withdrawal method across the UK, EEA and US regions in the coming months

Author

  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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