SEPA Payments for Businesses

Published 08 February 2024
SEPA Payments for Businesses


WhiteBIT’s SEPA Payments for Businesses offers a range of advantages for B2B clients, making it an attractive solution for those looking to integrate cryptocurrency into their financial operations. This article explores these benefits in detail.

  • Versatile Crypto Payment Solutions: WhiteBIT enables businesses to efficiently manage fiat-to-crypto and crypto-to-fiat conversion. This flexibility is crucial for companies in need of accepting and disbursing a mix of fiat and digital currencies.
  • No Limits on Euro Transactions: One of the key features is the ability to make euro deposits and withdrawals without predefined limits, starting from a significant threshold of 100,000 EUR per day. This flexibility is particularly beneficial for businesses dealing with large amounts, allowing them to transact without worrying about daily or transactional limits.
  • Efficient Conversion for Large Amounts: The platform enables the conversion of large amounts between fiat and crypto without any “squeezes,” ensuring that businesses can make large-ticket transactions smoothly without unnecessary delays or losses.
  • Mass Payouts in Crypto: WhiteBIT also caters to the needs of businesses required to make mass cryptocurrency payouts. This feature is essential for companies with international operations or those paying multiple beneficiaries overseas, as it simplifies the process and makes it more time-efficient.
  • Legal Support: Besides its transactional capabilities, the WhiteBIT partner network provides legal support to its B2B clients. This assistance is crucial for businesses navigating cryptocurrency’s often complex legal landscape, ensuring compliance and reducing the risk of legal issues.

WhiteBIT’s SEPA Payments for Businesses offers a comprehensive, flexible, and compliant solution for companies seeking to incorporate cryptocurrency in their treasury operations. Its ability to handle large transactions, efficient conversion processes, and mass payout capabilities make it an ideal solution for businesses operating at scale in the digital currency.

The Single Euro Payments Area (SEPA) has specific requirements for businesses looking to make deposits and withdrawals, particularly in the context of cryptocurrency transactions. In order to shed some light on how this works at WhiteBIT, we’ve put together a short overview below.

Requirements for Working with SEPA for Cryptocurrency Transactions

  1. Bank Account Registration: To use SEPA for deposits and withdrawals, businesses must provide a bank account listed in their Know Your Business (KYB) form. This ensures all transactions are linked to a verified business account, enhancing security and compliance.
  2. Mandatory Conversion to Crypto: Another requirement is that all fiat funds received via SEPA must be converted into cryptocurrency.
  3. KYB and Source of Funds Verification: Businesses must complete the KYB process and provide a verifiable source of funds. This step is crucial for maintaining the integrity of financial transactions and adhering to anti-money laundering regulations.
  4. Processing Time: A typical transfer through SEPA takes minutes, but in some cases, it can take up to 3 business days, depending on your bank.
  5. Refund of Unconverted Deposits: If a SEPA deposit is not converted into cryptocurrency, it will be returned to the originating bank account. This policy helps to maintain transparency and control over the funds.

In the rapidly evolving landscape of cryptocurrency, navigating legal and regulatory complexities can be a significant challenge for businesses. WhiteBIT partner network offers Legal Services as a tailored solution to address these challenges, providing comprehensive support for companies entering or operating in the crypto space.

Popular EUR Crypto Pairs

SEPA transactions are often used for trading popular EUR cryptocurrency pairs like USDT/EUR, LTC/EUR, BTC/EUR, SOL/EUR, ETH/EUR, SHIB/EUR, MATIC/EUR, ADA/EUR, XRP/EUR, XFC/EUR, DOGE/EUR. This wide range of pairs offers businesses flexibility in choosing their preferred cryptocurrencies. Beyond these pairs, businesses can exchange Euros for over 200 cryptocurrencies via USDT or a dedicated crypto converter.

Legal Services: Facilitating Legal Compliance in the Crypto Arena

WhiteBIT legal partners are subject matter experts when it comes to offering advice to businesses exploring cryptocurrency payments. Their expertise is focused on helping to secure a crypto license, a crucial step for any company operating legally within the crypto market. This process often involves navigating a maze of regulatory requirements, where their guidance becomes indispensable. They simplify the licensing process and ensure that businesses meet all legal standards.

Beyond licensing, company registration is another critical area where our partners can offer a hand. Registering a company in compliance with cryptocurrency regulations is a complex task, requiring in-depth knowledge of both local and international laws. WhiteBIT’s expertise in this area ensures businesses can build a solid legal foundation, allowing them to scale quickly and efficiently.

An equally important aspect of WhiteBIT’s services is assisting businesses in opening bank accounts with companies registered as Electronic Money Institutions (EMI). This step is essential for any business involved in cryptocurrency, as it provides the financial infrastructure necessary for handling crypto transactions. EMIs offer specialized banking solutions aligned with crypto operations’ unique needs, offering flexibility and security. WhiteBIT’s assistance in navigating the EMI landscape can be invaluable, particularly for businesses new to the crypto arena.

Moreover, WhiteBIT extends its services to provide ongoing legal advice and operational support. This support is not limited to the initial licensing and company registration but extends to the next stages as business operations grow and evolve in the crypto market. The legal landscape of cryptocurrency is constantly changing, and staying compliant requires continuous monitoring and expert guidance. WhiteBIT’s commitment to ongoing support helps businesses remain agile and compliant, even as regulations and market conditions shift.

Use Case
A client wanted to open an online crypto exchange in Europe. Our legal partner opened a company and got a license in the Czech Republic. We’ve offered several EMIs to choose from when opening an account. The client decided to open an account with Blackcatcard EMI. An additional account was opened with ZEN for business payments. We added all the policies to the website, helped select an AML officer, and set up the AML compliance process. Connected Sumsub for KYC and KYB verification. We provided the client with comprehensive and operational support to get started.

WhiteBIT’s Fiat to Crypto Exchange Service

WhiteBIT’s fiat-to-crypto exchange service is designed to meet the specific needs of corporate clients, offering a seamless and efficient way to navigate the world of cryptocurrency. This service includes SEPA deposits that can be tailored with custom limits, accommodating the unique financial requirements of each business. A key feature of this exchange is its cost-effectiveness, characterized by a fixed low fee of just 5 EUR for every deposit and withdrawal. Additionally, WhiteBIT ensures rapid transaction processing, typically completing deposits within 15 to 60 minutes, although this can vary up to 3 business days, depending on the bank. This blend of adaptability, affordability, and speed positions WhiteBIT’s service as a highly attractive option for businesses engaging in crypto transactions.

Starting with WhiteBIT for crypto transactions involves a few straightforward steps, ensuring a seamless experience for users:

  1. Complete KYB and provide SOF: The first step is to pass the Know Your Business (KYB) and provide Source of Funds (SOF) verification. WhiteBIT’s account managers assist in this process, helping collect and verify all necessary information.
  2. Deposit Funds Using SEPA: Next, deposit funds into your WhiteBIT account via SEPA. WhiteBIT offers custom deposit limits, allowing transactions over 100,000 euros per day.
  3. Quick Deposit Processing: The platform processes deposits rapidly, typically within 15 minutes to 2 hours, depending on your chosen EMI provider.
  4. Exchange Euros to USDT: Utilize the Limit order option to exchange EUR to USDT.
  5. Efficient Fund Transfer: Finally, transfer your funds. Sending USDT or other cryptocurrencies is a quick process, taking less than 5 minutes, with a fixed fee of 1 USDT (TRC20).

Use Case

An eCom company needed to pay crypto to recipients’ wallets in Asia. The client can now make large deposits in EUR and exchange them for USDT at a favorable rate without losses. The client makes monthly payments in crypto worth over 500,000 USDT per month.

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WhiteBIT’s Crypto to Fiat Exchange Service

WhiteBIT’s crypto-to-fiat exchange service simplifies converting cryptocurrency into fiat currency, mainly catering to transactions of large amounts. This service allows users to withdraw large amounts with high limits directly to their bank accounts using SEPA, which is ideal for those dealing with large sums. There is a fixed withdrawal fee of only 5 EUR, making it a cost-effective option for frequent transactions. The withdrawal process is quick, typically completed within 15 minutes, although in some cases, it can take up to 3 business days, depending on your bank. This combination of high transaction limits, affordability, and quick processing times makes WhiteBIT’s Crypto to Fiat Exchange a highly valuable service for those seeking to manage large-scale crypto conversions efficiently.

For those receiving payments in cryptocurrency and looking to convert them into fiat, WhiteBIT offers a structured and efficient process:

  1. Complete KYB and provide SOF: Start by passing the Know Your Business (KYB) process and providing your Source of Funds (SOF). WhiteBIT’s account managers ensure all necessary information is collected and verified.
  2. Deposit Cryptocurrency: Transfer your cryptocurrency to your WhiteBIT account. This is the initial step in converting your digital assets into fiat currency.
  3. Execute Exchange via Limit Order: Use a Limit order to exchange your cryptocurrency (like USDT) to EUR.
  4. Withdraw Funds Using SEPA: Once the exchange is completed, you can withdraw your funds in fiat (EUR) to your bank account using SEPA. This service particularly benefits institutional clients, as WhiteBIT provides custom limits on fiat withdrawals via SEPA, accommodating larger transaction volumes.

Use Case

The payment service sought the most profitable way to withdraw its income in crypto. With WhiteBIT, the payment service can exchange a large amount of USDT for EUR at a favorable rate.

The WhiteBIT Merchant Portal

The WhiteBIT Merchant Portal is a dashboard designed to streamline the process of making mass payouts, which is particularly beneficial for businesses managing payouts to multiple beneficiaries. This portal enables users to execute mass payouts to various counterparties with just a single click, significantly simplifying the payment process. Users first deposit their crypto assets into their WhiteBIT account and then effortlessly carry out mass payouts to recipients’ wallets overseas. This feature is especially valuable for companies with a global footprint, allowing them to manage international transactions efficiently and securely. The WhiteBIT Merchant Portal, therefore, is a great tool to simplify and accelerate the process of distributing crypto payments on a large scale.

Use Case

An IT company was looking for ways to automate regular payments to employees and contractors in crypto. WhiteBIT provided access to the merchant portal for mass payments.

With the merchant portal, it takes less than 5 minutes to set up and make payments to more than 700 recipients in 4 different countries.

Check out our webpage for corporate customers and get to know all the advantages of using SEPA rails for your business.