SWIFT Payments Have Arrived

announcement Nov 23, 2020

Remember we told you about the so-called “Wire Transfer”? SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications. Using this payment method, you can send unlimited amounts of money and transfer assets worldwide. For the convenience of CoinLoaners, we will open EUR and GBP accounts with fee-free deposits and withdrawals.

On November 10, CoinLoan opened a corporate bank account with a Swiss bank to enable SWIFT payments. As CoinLoan is a regulated financial institution licensed under Estonia Financial Authority, our legal team opened an account in a Swiss bank without impediment. InCore Bank AG was a clear choice, as it officially approves crypto activities. This means that our users will now send money to a full-fledged bank, not just the payment system. We are also proud to offer SWIFT for international payments, in addition to SEPA bank transfers that work inside the EU.

Thanks to this introduction, users from all over the world can:

  • Take loans in EUR and GBP secured by crypto and withdraw them to their bank accounts without any commission;
  • Deposit fiat and buy crypto;
  • Deposit funds on CoinLoan Interest Account.

The deposit and withdrawal amounts start from 5000 for both SWIFT currencies. It doesn’t matter if your bank account is in a different local currency! Your bank can convert it to EUR at the current rate.

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