Can I buy Cryptocurrencies with SEB Bank?
Unfortunately, no. SEB Bank does not have any services that enable its customers to buy, sell or custody their cryptocurrencies with the bank. That said, SEB does allow its customers to withdraw fiat currency (EUR) from their bank accounts into European Securities and Markets Authority (ESMA) licensed platforms to invest in digital assets.
It is important that customers only use ESMA-licensed platforms, otherwise, SEB Bank may freeze your withdrawals for engaging with unregulated, off-shore exchanges.
How to buy Crypto or Bitcoin with SEB
The best way to invest in cryptocurrencies like Bitcoin and Ethereum is with a European-based exchange like eToro. They offer fast and cheap Euro (EUR) and GBP deposits from SEB Bank to invest in over 80 cryptocurrencies and 7,000+ stocks, ETFs, commodities and other financial assets.
You can get started in 4 fast steps:
- Create an account: Sign up to the eToro platform and verify your identity (personal or company).
- Fund your account: Select the 'Deposit Funds' button on the bottom of your screen to deposit EUR from your SEB online banking account.
- Find Crypto: Once the funds hit your account, find the Crypto you want to buy on the eToro platform with their 'Discover' tab.
- Execute your trade: Input the fiat amount 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.