The bittr blog
How do I set up a SEPA bank transfer?
How do I set up a SEPA bank transfer?
Ruben Waterman Getting Started June 9, 2022
Now that you've signed up with bittr and received your personal payment details, it's time to set up a (recurring) bank transfer! With most banks in Europe, you can do this easily via the online banking portal or mobile app of your bank. In this blog post we'll give you two examples on how this works with one particular bank (N26). First, we will show you the step by step process of creating the payment manually, followed by using the quicker “Scan2Pay” feature some modern banks offer.
In this blog post, we use N26 for illustrative purposes only. BITTR AG is not in any way affiliated with N26 and does not necessarily endorse its services.
Setting up a manual N26 SEPA payment
In order to set up your SEPA bank transfer, you will need your personal bittr payment instructions. These are shown to you on the last page of signing up with bittr and we also email them to you for future reference. If you happen to use Revolut, bunq, N26, or another bank that supports Scan2Pay QR codes, it may be quicker to follow the “Scan2Pay” instructions.
Step 1: Open the mobile banking app or online banking website of your preferred bank and create a new payment (in N26 “Send money”).
Step 2: If your bank has multiple transfer options, select the most ordinary bank transfer option (in N26 “Bank Transfer”).
Step 3: Add a new recipient for your money (in N26 “Add new contact”).
Step 4: As the recipient of the money, enter “BITTR AG” as the name and copy our IBAN from the bittr payment details page. Click “Continue”.
Step 5: Enter the amount you'd like to convert and optionally click “Schedule Transfer” to set up a recurring bank transfer.
Step 6: Change the occurrence (one time, weekly, monthly, quarterly, yearly) to match your rhythm.
BITTR TIPS: if your bank doesn't offer the rhythm you like, simply set up multiple recurring bank transfers, for example:
Step 7: When you create a bank transfer, most banks have one or multiple fields to enter a payment description. It's very important you enter your personal 12-digit bittr payment reference (i.e. “5M21VKFVC8GX” in this blog post) in these fields as this will make sure the bittr system can associate your payment with your order. Do not mention bitcoin or specify your bitcoin address in your payment details!
Step 8: Confirm your bank transfer by entering your N26 PIN. Your bank may have different means to confirm the payment such as an email, TAN code, SMS or other method of authentication.
Step 9: In the case of N26, you will have to confirm the payment once more, by refreshing the home screen and tap on the newly created payment (please note you only have 24 hours to do this).
Step 10: Click “Confirm” to initiate your (recurring) bank transfer.
That's it! As soon as the money arrives into our bank account, we will buy your bitcoin, send the bitcoin directly to your own (hardware) wallet and email you the transaction details (including the exchange rate at the time of conversion).
Scan2Pay QR code to set up a (recurring) bank transfer with N26
Some banks (i.e. bunq, N26 and Revolut) offer the option to scan a Scan2Pay QR code, containing bittr's payment details. In case your bank does not offer this option, follow these instructions to set up your payment manually. On the payment details screen of the bittr website, you can click the QR icon to display your personal QR code:
Step 1: Open the mobile banking app or online banking website of your preferred bank and create a new payment (in N26 “Send money”).
Step 2: Click “Scan QR code”.
Step 3: Scan the QR code on the bittr website. Verify the recipient (BITTR AG), IBAN and your personal payment reference (12 digits) and click “Continue”.
Step 4: Enter the amount you'd like to convert and optionally click “Schedule Transfer” to set up a recurring bank transfer.
Step 5: Change the occurrence (one time, weekly, monthly, quarterly, yearly) to match your rhythm.
BITTR TIPS: if your bank doesn't offer the rhythm you like, simply set up multiple recurring bank transfers, for example:
Step 6: As your bittr payment reference (i.e. “5M21VKFVC8GX” in this post) was already included in the QR code, you just need to verify it's correct and click “Continue”. Do not mention bitcoin or specify your bitcoin address in your payment details!
Step 7: Confirm your bank transfer by entering your N26 PIN. Your bank may have different means to confirm the payment such as an email, TAN code, SMS or other method of authentication.
Step 8: In the case of N26, you will have to confirm the payment once more, by refreshing the home screen and tap on the newly created payment (please note you only have 24 hours to do this).
Step 9: Click “Confirm” to initiate your (recurring) bank transfer.
That's it! As soon as the money arrives into our bank account, we will buy your bitcoin, send the bitcoin directly to your own (hardware) wallet and email you the transaction details (including the exchange rate at the time of conversion).
Do you have any questions? Reach out to us at hello@getbittr.com!
