How do I deposit EUR with Bancontact?
Bancontact is a popular payment method that allows residents of Belgium to make secure, real-time bank transfers directly from their bank accounts. You can now complete a EUR deposit from your bank account to your OKX account by using Bancontact as a payment method. Kindly note that Bancontact is only available to fully verified individuals from Belgium.
How do I make a cash deposit?
On the web
Log in to your account at okx.com, go to Assets and select Deposit
Select Euro to start making cash deposit
Go to Euro to start making cash deposit
Select Bancontact as deposit method and Next
Enter the amount you wish to deposit and Next
Review and confirm your deposit details and select Next
You will then be redirected to complete the payment using Bancontact
On the app
Open your OKX app, select Deposit > Deposit EUR
Opening deposit page from homepage
Select Bancontact as a deposit method and Next
Enter the amount you wish to deposit and Next
Review and confirm your deposit details and select Deposit
You will then be redirected to complete the payment using Bancontact
Note: make sure the name on your OKX account matches the name on your bank account for a smooth deposit transaction. Any deposits from a third party will be rejected.
How do I use Bancontact?
To use Bancontact, please make sure you have a banking app or card that displays the Bancontact logo, and then follow the steps below:
Select Bancontact as the payment method at checkout
If you are using your desktop, you may confirm the transaction through a mobile app or card reader. In order to confirm the transaction through a mobile app, scan the QR code with your banking app, and follow the instructions
If you are using your smartphone, your Payconiq by Bancontact app or banking app will open. You will then be prompted to login to the app and confirm the amount to finalize the payment
Once confirmed, funds are transferred immediately
FAQ
1. Why can't I access the "Deposit EUR" feature?
To comply with local laws and regulations, cash deposits are only available in specific regions. This may mean that your account is currently not eligible to access this feature.
2. Why am I encountering a "Cash deposit unavailable" message?
This means that cash payment services aren't currently available in your region. You can learn more about cash deposits and withdrawals. Check back soon to learn about new payment options and regional offerings.
3. Why am I only able to select certain payment method types?
To comply with local laws and regulations, the payment methods available to you on your account will be limited to those that are appropriate based on the account verification documents you have provided during onboarding to OKX. Payment options may also vary based on your nationality or residency.
4. Why do I need to verify my identity before making a deposit?
We ask you to verify your identity to follow local regulations, keep our platform secure, and help determine the best payment methods for your region. Bancontact payment method is only available to Belgium customers who have completed account verification.
5. What forms of payments does Bancontact offer on OKX?
You can deposit cash from your bank account to your OKX account using Bancontact. Additionally, you can use fiat to buy crypto, though this involves a fee. You can preview the total fee before initiating the transaction. However, please note that Bancontact on OKX doesn't support direct buy transactions.
6. How long does a deposit by Bancontact take?
Once you confirm the payment and its approved, the money will be added to your cash balance right away.
7. What can I do if my deposit is pending or processing for a long time?
After 120 minutes in a pending or processing state, your deposit will be automatically canceled. You'll receive an email confirmation that your deposit is canceled. In the event that the amount has been deducted from your bank account, a refund will be initiated to return the funds back to your bank account. Please note that it can take up to 7 business days for the funds to be credited. We'll email you once the refund is complete. If the refund has been issued, but the funds are still not received in the bank account, please reach out to our support team for further assistance.
8. How do I check my cash deposit history?
You can review your deposit history:
On the web: select Assets > Deposit > All deposits
On the app: select Portfolio > transactions > filter Cash deposit type
Web: all deposits on the deposit page
App: transactions on the Portfolio page
9. How can I withdraw EUR?
To comply with local laws and regulations, it's necessary to verify the ownership of the receiving account. This verification process is typically conducted automatically during the deposit process. However, if your account isn't verified, you can complete a small deposit through SEPA channels at no additional fee to enable EUR withdrawals. You can read more in How do I withdraw EUR with SEPA bank transfer?