How to deposit Fiat on Bybit via SEPA transfer?

Understanding SEPA Transfers on Bybit

1. SEPA stands for Single Euro Payments Area and enables fast, low-cost euro transfers across participating European countries.

2. Bybit supports SEPA deposits exclusively for users with verified European residency and a bank account denominated in EUR.

3. The deposit process requires completion of KYC Level 2 verification, including proof of address and identification documents.

4. SEPA deposits are credited to the Bybit fiat wallet only after the bank confirms settlement—typically within one business day.

5. No intermediary banks are involved in standard SEPA credit transfers, reducing fees and processing complexity.

Step-by-Step Deposit Procedure

1. Log into your Bybit account and navigate to Wallet > Fiat & Spot > Deposit.

2. Select EUR as the currency and choose SEPA Transfer as the method.

3. Confirm your personal banking details match those registered during KYC—Bybit will not accept mismatched names or account numbers.

4. Copy the provided beneficiary bank details: IBAN, BIC/SWIFT, beneficiary name, and payment reference code.

5. Initiate the transfer from your online banking platform using the exact reference code—omitting it may cause delays or rejection.

Key Requirements and Restrictions

1. Minimum deposit amount is €50; amounts below this threshold are automatically declined by Bybit’s compliance system.

2. Deposits must originate from a personal bank account—corporate, third-party, or joint accounts are prohibited.

3. The beneficiary name on the SEPA instruction must be identical to the legal name on the user’s verified Bybit identity document.

4. Repeated failed deposits due to incorrect references or insufficient funds may trigger temporary restrictions on fiat onboarding.

5. SEPA deposits cannot be reversed once initiated—users bear full responsibility for accuracy before submission.

Fees and Processing Timeframes

1. Bybit does not charge any fee for incoming SEPA transfers—however, sender banks may apply their own outgoing transfer charges.

2. Most SEPA deposits arrive between 08:00 and 17:00 CET on business days; weekend or holiday submissions are queued until the next banking day.

3. Delays beyond 24 hours usually indicate an issue with the reference code, name mismatch, or bank-level hold requiring manual review.

4. Users receive email and in-app notifications upon successful credit to their fiat wallet balance.

5. Failed transfers are not auto-refunded—support tickets must be opened with transaction IDs and bank confirmation screenshots.

Frequently Asked Questions

Q: Can I use a non-EU bank account for SEPA deposits?No. SEPA is limited to banks in the Eurozone and associated countries like Norway, Switzerland, and Liechtenstein. Accounts outside this scope will fail validation.

Q: What happens if I send EUR via SWIFT instead of SEPA using the same IBAN?The transfer will likely be rejected or incur high intermediary fees. Bybit’s system only recognizes SEPA-compliant routing and metadata.

Q: Is there a daily or monthly limit on SEPA deposits?Yes. Verified users have a rolling 30-day limit of €50,000. Higher limits require additional documentation such as source-of-funds statements.

Q: Why does my deposit show “Pending” for more than 48 hours?This often occurs when the sending bank omits or alters the required reference code. Contact Bybit support with the UTR and bank receipt for escalation.