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Anyone got experience cashing out to Fidor UK bank?


ZX81_1k
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For convenience, I was setting up a separate bank account to keep crypto things away from my family bank account and understood Fidor to be relatively friendly to crypto transfers. However having checked with their support I got a response which basically says they're happy to transfer money to exchanges but it can't be returned which seems pretty unhelpful. 

Does anyone here use Fidor UK and successfully got money to and from exchanges?

Email correspondence below (I mentioned Bitstamp and Kraken in my initial email):

"Thanks for contacting us. Yes, if there are going to be lot of exchanges involved, our compliance team might request for some documents from you and your funds might be held while they are going through this checks.We support Bitcoin/crptocurrency exchanges but there is a threshold.

Also, it may be helpful to know that we do not process incoming international transfer. So, while it is possible to transfer to KRAKEN it is not possible to receive at the moment.

The reason for this is because our customers do not have individual IBAN at this time, and as a result of this, you are not able to receive funds internationally into the account."

 

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yep fidor dont have a european IBAN for UK customers, so you can send out on SEPA but not receive through SEPA

you can try revolut but dont go over their max deposit limits or youll get funds frozen until you provide an epic paper trail to appease them

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1 hour ago, Arized said:

I think Revolut has the same issue (or at least it did when I was using Kraken a few months ago?)

no, revolut do indeed provide a full european personal IBAN -- just dont abuse it, they have restrictions, and be prepared to answer questions about source of funds etc

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7 hours ago, Badger said:

Does anyone here use Fidor UK and successfully got money to and from exchanges?

I use Kraken + Fidor Germany for SEPA transfers ( in-and outgoing). No problems until now.

edit; from my own Dutch bank, but that was not your question I guess, sorry.

Edited by Ripple-Stiltskin
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