Understanding Bank Charges for BTSE Transactions
Navigating the world of cryptocurrency transactions means understanding not only the fees associated with the exchange platform but also the external charges you might incur when transacting with your bank and other intermediary institutions.
For SWIFT remittances to and from the BTSE platform, your money typically follows these paths:
Deposits:
Withdrawals:
SWIFT Remittance Fees Explained
Sender's Bank Fees
Deposits: Your bank may apply a sender's fee. Check with them for the exact amount as it varies from bank to bank.
Withdrawals: BTSE's bank charges a sender's fee of 0.1% of the withdrawal amount, and requires a minimum transaction amount of US$25.
Intermediary Bank Fees
Should an intermediary bank be involved, they may charge a fee, typically ranging from US$10-30.
Beneficiary Bank Fees
Deposits: BTSE's bank doesn't charge any fees for deposits.
Withdrawals: Your bank might apply a beneficiary fee. Please check with them as it varies from bank to bank.
Before initiating a SWIFT remittance, always consult your bank about potential charges.
FPS Transfer
For FPS Transfers (GBP only) to the BTSE platform, your money typically follows these paths:
Deposits:
Withdrawals:
FPS Transfer Fees Explained
Sender's Bank Fees
Deposits: Your bank might apply a sender's fee for FPS transfers. The fee varies from bank to bank, so it's best to consult your bank directly.
Withdrawals: BTSE's bank charges a sender's fee for FPS withdrawals; details will show up when you’re conducting the transaction.
Intermediary Bank Fees
FPS transactions typically bypass intermediary banks, but if any additional institution is involved, they might charge a fee. Always verify before confirming the transaction.
Beneficiary Bank Fees
Deposits: BTSE's bank doesn't levy a fee for receiving FPS deposits.
Withdrawals: Your bank could charge a beneficiary fee for FPS receipts. As it can vary, always check with your bank beforehand.
To avoid unexpected fees, always review the terms and consult your bank prior to initiating an FPS transfer.
SEPA Transfer
For SEPA Transfers (EUR only) to BTSE, your money typically follows these paths:
Flow of Funds (EUR deposits and withdrawals only)
Deposits:
Withdrawals:
SEPA Transfer Fees Explained
Sender's Bank Fees
Deposits: Your bank might charge a sender's fee, ranging from 0 - 1 EUR. Some banks, however, offer this service for free. Always verify with your bank before conducting a transaction.
Withdrawals: BTSE's bank charges a sender's fee of 0.1% of the withdrawal amount, with a minimum fee of three Euros.
Beneficiary Bank Fees
Deposits: BTSE's bank doesn't impose any beneficiary fee.
Withdrawals: Your bank might apply a fee between 0 - 1 EUR for beneficiary services, though some banks waive this charge. Always check with your bank beforehand.
In conclusion, potential fees of 0 - 1 EUR might affect your total deposit or withdrawal amount. Always review the specifics with your bank before initiating a SEPA transfer.
