Withdraw funds from Kolo to a bank account in the SEPA region. Payouts are sent as a EUR bank transfer to the recipient's IBAN.
At a glance | |
Who can use it | Kolo personal accounts with completed verification and a separate IBAN verification |
Where | Countries that support SEPA payments |
Payout currency | EUR |
Processing time | Usually almost instant, up to 1–2 business days |
Personal IBAN for deposits | ❌ Not provided |
Before You Start: IBAN Verification
IBAN withdrawals require a separate verification in the Kolo app. This is not the same as the identity verification you completed when you signed up.
To complete it, go to Profile → Services → Transfer to IBAN. For what to expect during verification, see Meet Services: Access Kolo Features in One Place.
During verification, make sure the country you select as your tax residency is the same country your proof of address is from.
If your IBAN verification isn't approved, this decision is final. It affects only IBAN withdrawals — your account and other Kolo features remain available.
How It Works
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.
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.
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.
Tip: Enter the IBAN without spaces, with the country code in capital letters (for example, DE, PT, FR). Copy and paste it 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.
FAQ
Why can't I see Transfer to IBAN?
Why can't I see Transfer to IBAN?
Complete the IBAN verification in Profile → Services → Transfer to IBAN first. IBAN withdrawals are available only for verified personal accounts — they are not yet available for business or corporate accounts.
How do I check the status of my IBAN transfer?
How do I check the status of my IBAN transfer?
Open the transfer in your transaction history and tap Transaction details. If it has been processing for more than 1–2 business days, contact Support and share the transaction ID.
Why was my transfer rejected or delayed?
Why was my transfer rejected or delayed?
The most common reason is recipient details that don't match the bank account — for example, the wrong recipient type (individual or company) was selected, or the recipient's name doesn't match the account holder. In these cases, the transfer is usually rejected. In other cases, the transfer may take longer because of additional checks, and we may ask you for more information.
If your transfer fails without a clear error message, or IBAN withdrawals are temporarily unavailable, contact Support — we'll check your case.
My transfer failed. What happens to my money?
My transfer failed. What happens to my money?
The funds are returned to your Kolo balance. In some cases, you'll need to confirm what to do next in the app — send the transfer again or return the funds to your balance.
Can I cancel or change a transfer after sending?
Can I cancel or change a transfer after sending?
Once a transfer reaches a certain stage of processing, it can't be canceled. A failed transfer can't be redirected — create a new transfer and enter the recipient details manually to make sure they're correct.
Why does the recipient see a different sender name?
Why does the recipient see a different sender name?
The transfer is processed by our payment provider, so the provider's name appears on the recipient's bank statement. This is a technical limitation and can't be changed.
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, contact Support and share the transaction ID.