How to whitelist IBAN account
Overview
IBAN whitelisting is a security process where users register and verify their own bank account (IBAN) before they can use it to deposit or withdraw fiat funds (EUR) on the Safe2transact platform.
Once verified, Safe2transact “whitelists” this IBAN — meaning only that approved bank account can interact with your crypto wallet balance. This ensures secure and compliant fund transfers between your Safe2transact wallet and your personal bank account.
Why it’s done
The main goals are security, compliance, and fraud prevention.
By linking a verified bank account, Safe2transact ensures that only the legitimate account holder can move funds between Safe2transact wallet and the traditional banking system.
Key reasons
- Anti-Money Laundering (AML) & Know Your Customer (KYC) compliance: regulators require crypto platforms to verify the source of funds and ensure money only flows to/from verified identities.
- Protection against fraud: prevents criminals from depositing stolen funds or withdrawing to third-party accounts.
- User account security: ensures that even if a user’s crypto account is compromised, attackers can’t redirect withdrawals to their own bank account.
Whitelist steps
- Go to Account → Manage external bank account.
- Click on New IBAN account.
- Enter your IBAN account you will use to deposit funds.
- Once approved, only that IBAN can be used for deposits and withdrawals — ensuring traceability, compliance, and account security.
Note:
Before transferring larger amounts, we recommend making a small test deposit first.
This allows you to confirm that your bank details are correct and that funds are credited properly to your Safe2transact wallet.
Once the test deposit is successful, you can proceed with full deposits confidently.
Important
- Only your own personal or business bank account can be whitelisted.
- Deposits from non-whitelisted or third-party accounts will be rejected.
- If you change your bank account, you must add and verify the new IBAN before making deposits.