How can I verify my bank account?
Summary
You can verify your bank account by making a GBP deposit to your Bitvavo account. Bank account verification may happen immediately or you can choose to verify your bank account after you start trading. This article explains how verification works, what 'delayed bank account verification' means, and how to resolve common issues.
Introduction
You link your bank account to your Bitvavo account by making a small GBP deposit. The account is usually verified immediately. Below you find how delayed bank account verification works, who it applies to, and how to complete verification if it doesn’t happen automatically.
About delayed bank account verification
You can deposit and trade before your bank account is verified. You can use certain payment methods such as credit card, Apple Pay, or PayPal to make deposits and start trading before verifying your bank account via a Bank Transfer (Faster Payments).
- After completing identity verification, you can make your first deposit using any available payment method.
- You can deposit and trade up to a total of £1,000 before your bank account is verified.
- Once you reach £1,000 in cumulative deposits, your next deposit requires bank account verification.
Step-by-step: verify your bank account
- Log in to your Bitvavo account.
- Go to 'Deposit GBP'.
- Select a payment method that includes your bank account details (for example, Bank Transfer (Faster Payments)).
- Complete the payment of at least £1.
- When your payment arrives, we automatically verify that your bank account name matches your Bitvavo account name.
FAQ
Why isn’t my bank account automatically verified?
Sometimes your bank account stays in 'pending' status. Common reasons include:
- Name mismatch: If your Bitvavo account name doesn’t match your ID, contact Support and ask to speak to a human agent to update it.
- Joint account: If only your partner’s name is sent by the bank, upload a photo of your bank card to show the account is also in your name.
- Name not shared by bank: Some banks don’t share the account holder name. Upload a bank card photo or an account screenshot that shows your name, account number, and sort code.
Can I add multiple bank accounts?
Yes. You can link multiple bank accounts to your Bitvavo account for deposits and withdrawals. Each bank account must be verified through a deposit.
Why are my deposit and bank account not approved?
We cannot accept deposits from business accounts, third-party accounts, or bank accounts already linked to another Bitvavo account. Such deposits are refunded within 1–2 business days.
What happens if I trade before verifying my bank account?
You can deposit and trade up to £1,000 before bank account verification. You cannot withdraw any funds (crypto or GBP) until your bank account is verified.
How do I complete bank account verification after I start trading?
When you reach the £1,000 threshold or want to withdraw, make a deposit using a payment method that confirms your bank account name (for example, Bank Transfer (Faster Payments)). When the deposit is received and verified, your bank account is marked as verified and withdrawals are enabled.
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