How It Works
Before proceeding, ensure that IBAN withdrawals are enabled in your account by completing the verification process in the app (Profile > Services > Transfer to IBAN).
To send funds to an IBAN from Kolo:
Open Send
Select To IBAN
Choose the balance you want to use
Enter the recipient IBAN
Add the required recipient details
Enter the amount
Review the transfer summary
Confirm the payout
If the transfer is processed successfully, the recipient receives the payout as a EUR bank transfer to their IBAN.
Recipient Types
SEPA withdrawals can be created for different recipient types depending on the payout flow available in your account.
Supported recipient types may include:
Personal — for an individual recipient
Business — for a company recipient
The receiving account must:
match the recipient details entered in the payout flow
belong to a supported SEPA country
use a valid SEPA IBAN
Supported Countries
EUR bank transfer withdrawals are available in countries that support SEPA payments.
If the destination country or bank account is not supported, the transfer cannot be completed.
Recipient Details
When creating a SEPA withdrawal, you need to provide:
IBAN
Full name
You can also select a saved recipient if one is already available in the flow.
Please note that IBAN/SEPA withdrawals are currently available only for Kolo personal accounts with completed verification. This functionality is not yet available for Kolo business or corporate accounts.
Step: Choosing the Recipient
When you reach the recipient step of the withdrawal flow, indicate who the recipient is:
If you're sending to yourself, check the box confirming that you are the recipient.
If the recipient is someone else, leave the box unchecked and enter their IBAN and full name manually — make sure the details are accurate.
If the recipient is a company, enter the company's legal name.
💡 Pro tip: Copy and paste the IBAN carefully. Even a small mistake may cause the transfer to fail or be returned.
Currency and Conversion
SEPA payouts are sent in EUR.
If your available balance is held in another supported asset, Kolo converts it as part of the transfer flow.
You may be able to fund the transfer from your selected available balance, depending on what is supported in your account.
Before you confirm the payout, the transfer summary shows:
the balance used for payment
the amount you pay
the conversion rate, if conversion applies
the fee
the final amount the recipient receives in EUR
⚠️ Important: Always review the transfer details carefully before confirming the payout.
Processing Time
SEPA withdrawals are usually processed almost instantly, but in some cases may take longer — up to 1–2 business days. Occasionally, additional information may be requested to process the transfer, which can also affect the timing.
Actual timing may vary depending on the receiving bank.
Before You Confirm the Transfer
Before confirming a SEPA withdrawal, always review:
the recipient IBAN
the recipient full name
the selected balance
the amount you pay
the conversion rate
the fee
the final amount the recipient gets
⚠️ Important: Bank transfers may not be reversible once submitted for processing.
Transfer Limits
The following limits apply to EUR IBAN withdrawals:
Limit | Amount |
Per transaction | $25,000 |
Monthly | $50,000 |
Annual | $250,000 |
Transfers above these limits are not automatically declined. They are held for a Source of Funds (SOF) review, and our team may ask you for supporting documents before the payout is processed.
Canceling a Withdrawal
Once an IBAN withdrawal has been submitted and reaches a certain stage of processing, it cannot be canceled. You'll need to wait for the transaction to complete, or for the funds to be returned if the transfer cannot be finalized.
Does Kolo Provide a Personal IBAN?
Kolo does not provide a dedicated personal IBAN for receiving bank transfers.
This means:
You cannot top up your Kolo wallet via IBAN. Deposits are available in cryptocurrency only)
IBAN withdrawals are processed in EUR only
When you make a withdrawal, the sender shown on the recipient's bank statement will not be you personally — it will appear as the payment provider that processes the transfer on Kolo's behalf.
Need Help?
If you're unsure which bank details to use, your withdrawal is delayed, or you want to check whether SEPA payouts are available for your account, our support team is here to help.