Can you buy Cryptocurrencies with SEB Bank?
SEB Bank does not provide services for purchasing, selling or custodying cryptocurrencies for its customers. However, it does allow customers to withdraw fiat currency (EUR) from their bank accounts and invest in digital assets using platforms licensed by the European Securities and Markets Authority (ESMA).
To avoid the risk of having withdrawals frozen for dealing with unregulated offshore exchanges, it is crucial for customers to use only ESMA-licensed platforms.
How to Buy Crypto or Bitcoin with SEB
The recommended approach to buying Crypto with SEB is to use a European-based exchange such as Uphold. They are a London-based exchange that is regulated in Europe and offers over 250 cryptocurrencies to trade with zero fees and tight spreads. Uphold is one of the most trusted brands in Europe, with over 10 million investors on their platform.
Here is a simple 4-step guide to getting started:
- Sign Up: Create a free account on Uphold with your email address and complete the verification process.
- Connect Account: Connect your SEB Bank account or card to Uphold by selecting the fiat currency you want to transfer on your dashboard.
- Deposit Funds: You can then select the 'connect bank' button to link any European Bank account to Uphold.
- Buy Cryptocurrency: Find the cryptocurrency you want to buy and execute your trade.
SEB Bank Cryptocurrency Policy
Unfortunately, SEB Bank has no specific policy on cryptocurrencies. They have not released any public statements on their views of digital assets or how they plan to work with them in the future.
However, because SEB allows its customers to withdraw Euros from their accounts into ESMA-licensed cryptocurrency exchanges, we believe that the bank is supportive of the industry.
What is SEB Bank?
Skandinaviska Enskilda Banken, better known as 'SEB Bank', is a Swedish investment bank founded in 1856 with over 2 trillion Swedish Kroner (SEK) in assets under management (AUM). They offer a wide range of banking products and services to their corporate and private clients including loans, mortgages, savings accounts and investment products.
SEB also has a large international presence with over 110 branches in 19 countries outside of Sweden including the UK, USA, Germany, Norway and Denmark. They offer English-language online banking services to their customers around the world.
SEB Bank does not offer direct cryptocurrency trading or investing, but allows customers to withdraw Euros from their accounts and use licensed cryptocurrency brokers in Europe. To ensure safe and regulated trading, it is recommended to use a platform like Uphold, which is regulated in the EU and offers low fees and a variety of cryptocurrencies. While SEB Bank does not have a specific policy on cryptocurrencies, their support of ESMA-licensed exchanges suggests a level of industry support.