We’re excited to announce the addition of SWIFT bank transfers as a new payment option for Coinmama users, along with lower fees and higher daily spending limits.
Last summer we introduced buying crypto by bank transfer to our European customers with SEPA bank accounts. Today, we’re expanding that option to our users worldwide through SWIFT transfers.
Why buy crypto with bank transfer?
Buying cryptocurrency by bank transfer gives you lower payment processing fees and higher daily spending limits. Coinmama users buying by SWIFT transfer can enjoy:
-
0% payment processing fees on orders over 2,000 USD*
-
20 GBP flat payment processing fee on orders under 2,000 USD
-
Daily order limits of up to 30,000 USD, depending on your account verification level
*For a limited time only, take advantage of our early-bird SWIFT transfer promotion and receive 0% processing fees on orders over 1,000 USD through June 15, 2019!
Who SWIFT transfers are for
Coinmama users around the world (excluding Europe) can buy cryptocurrency with a SWIFT transfer. Our European customers are invited to keep using SEPA transfers.
SWIFT transfer vs. credit card
Whether you’re looking for low fees, high limits, or speed, Coinmama has you covered. The chart below will help you determine the best payment method for each of your transactions:
| Maximum Daily Amount | Payment Processing Fee | Locked Crypto Rate | Speed | |
| SWIFT bank transfer | 30,000 USD | 0% on orders above 2,000 USD;*20 GBP on orders under 2,000 USD | No | 1-3 Business days |
| Credit Card | 5,000 USD | 60 USD | 5% | Instant |
*Buy with SWIFT before June 15, 2019 and enjoy 0% payment processing fees on orders above 1,000 USD!
Our flat-fee structure on purchases by SWIFT bank transfer offers a more economical way to buy cryptocurrency than credit/debit card on orders of more than approximately 500 USD. However, if you need to receive your coins quickly, or want to lock the crypto rate, we suggest buying using credit or debit card. For more information on Coinmama’s fees and charges, click here.
How to buy crypto with SWIFT transfer
You can buy cryptocurrency with SWIFT transfer in just a few simple steps.
-
Log into your Coinmama account and click Buy. If you don’t already have a Coinmama account, you can register here.
-
Choose the coin and amount you’d like to buy.
-
Enter your cryptocurrency wallet address. You’ll receive a link by email to confirm your wallet address.
-
Choose “SWIFT bank transfer” as your payment option, then read and accept the terms.
-
From your own bank account, initiate a SWIFT transfer to be sent to the Coinmama bank details provided. Please note that SWIFT transfers must be made in Pound Sterling (GBP), or they will not be received by our account.
As soon as your funds are received, we will lock the cryptocurrency rate. We will send your coins as soon as both the funds are received and the wallet address is confirmed.
What’s next?
We’re excited to be constantly improving our service, adding new payment options, coins, and features. We recently introduced the ability to sell Bitcoin with SEPA bank transfers. Keep an eye on this space to learn when the sell feature is available with SWIFT!
