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SEPA and EUR Bank Transfer Withdrawals

This guide explains how SEPA withdrawals work, what details you need to provide, what fees may apply, and what to expect after you confirm a transfer. It also explains whether Kolo offers a personal IBAN.

How It Works

To send funds to an IBAN from Kolo:

  1. Open Send

  2. Select To IBAN

  3. Choose the balance you want to use

  4. Enter the recipient IBAN

  5. Add the required recipient details

  6. Enter the amount

  7. Review the transfer summary

  8. 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

⚠️ Important: Incorrect or mismatched recipient details may cause the transfer to be declined, delayed, or returned.

Supported Countries

EUR bank transfer withdrawals are available only for supported countries shown in the payout flow.

If the destination country or bank account is not supported, the transfer cannot be completed.

💡 Tip: Always check the list of available countries in the app before creating the payout.

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 this payout method is currently available only for personal accounts with completed verification. It is not yet available for business accounts.

💡 Pro tip: Copy and paste the IBAN carefully. Even a small mistake may cause the transfer to fail or be returned.

Whose IBAN Can I Send To?

Withdrawals are allowed only to an IBAN registered in your own name.

  • If you attempt to send funds to an IBAN that is not in your own name (when the recipient name does not match the account details), the funds are returned to your Kolo wallet after processing.

  • If your account allows withdrawals to third-party IBANs, the transaction may proceed unless the recipient bank rejects it. Otherwise, the funds will return to your Kolo wallet if the transfer cannot be completed.

⚠️ Important: In rare cases, a transfer may complete even if recipient details are incorrect, and some banks may take additional time to return funds depending on their internal policies. Always double-check the IBAN and account name before confirming.

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

After confirmation, SEPA withdrawals usually take 1–3 business days.

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.

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

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.

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