Wirex Announces Support for IBAN

Wirex Announces Support for IBAN


Wirex a popular cryptocurrency debit card provider has recently announced support for IBAN. This support is however only restricted to its customers in the European Economic Area (EEA). As a result of the IBAN support, users from this region will be able to fund their accounts by bank transfer and receive euro payments. They can also have their salary deposited directly into their Wirex account.

Support is Restituted to European Users

The initiative which was started about a few months ago, by the U.K.-based fintech startup has finally reached completion and the IBAN functionality has been filed out across Europe.

The initiative was launched in Spain and France, before later moving it across Europe.
Fortunately, for UK users, their IBAN has been included in their account details earlier on. Wirex has also increased the funding limits for account holders in the EEA to £15,000, €16,000 and $20,000.

According to a recent report defining what an IBAN is, it was defined as “a system of identifying bank accounts that allow international payments. Each IBAN is unique and consists of up to 34 alphanumeric characters representing country code, domestic bank account number, branch identifier, and routing information.”
IBAN was able to reduce errors through its two check digits which allow the verification of the number.

Wirex Card

Wirex which is the first platform to reissue crypto debit cards since Visa suspended them last year has gained tons of users across Europe. Through the Wirex card, users, now have the option of spending cryptos across stores and online portal that accept payment using Visa.

Bitcoin core (BTC), litecoin (LTC), ethereum (ETH), and ripple (XRP) are the cryptos currently accepted on the platform. The cryptos are instantly converted to any of these three leading fiat currencies – British pound (GBP), euro (EUR) and U.S. dollar (USD). So depending on where the Wirex card is getting used, users crypto account balance will be deducted using any of these three Fiats.