What is the verification deposit and what are the limits for Bitpanda users?

Verification deposit

After successful verification, there is a limit of EUR 2,500 for deposits with the online payment methods EPS/GIROPAY and SOFORT, which will be increased after a verification deposit is completed.

This verification deposit needs to be completed via bank transfer (SEPA), SOFORT or GIROPAY/EPS, and can be done with an amount between EUR 25 and EUR 2,500.

Tip: Higher amounts can be deposited directly after successful verification using a bank transfer, which will also be considered as a verification deposit.

Please note that even though the amount gets credited to your Bitpanda wallet instantly, it actually reaches our bank account via bank transfer (SEPA). SEPA transfers can take up to 5 business days to be confirmed after you have initiated the payment. Once we have received the funds, you will be able to make use of the usual limits.

Note: Please keep in mind that Saturdays, Sundays and public holidays do not count as working days for banks. Furthermore, Austrian public holidays may differ from holidays in other countries.

Due to regulatory reasons, you are required to complete a verification deposit in one of the following fiat currencies: EUR, CHF, GBP or USD before you can deposit crypto-assets.

Note: This regulation does not apply to users who verified their Bitpanda account before 18.12.2020, or to users who reside in Turkey. Users with a country of residence other than Turkey are not allowed to deposit TRY until they have successfully completed their first EUR/CHF/GBP/USD fiat deposit.

Limits for verified Bitpanda users

If you are fully verified and have successfully completed your verification deposit, you will be able to make full use of the usual limits found below:

Online Payments

After successful, full verification, the 24-hour limit for online payments such as NETELLER and Skrill is EUR 10,000 and cannot be increased any further.

Credit card

After successful, full verification, the 24-hour limit for credit card deposits is EUR 2,500 and cannot be increased any further.

Bank transfer

After successful, full verification, the 24-hour limit for bank transfers deposits is EUR 500,000.

Additional information

These general limits do not apply to all users, as individual limits are set based on a number of criteria.

Have a look at a complete list of the respective limits and payment options for verified users for more information.

Limits for unverified Bitpanda users

Due to a new EU regulation (AML5) which came into effect on the 10th of January, 2020, Bitpanda users are required to verify their Bitpanda accounts.

Learn more about it here.

Was this article helpful?
383 out of 686 found this helpful
Have more questions? Contact us
Return to top

Comments

0 comments

Article is closed for comments.

Articles in this section