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Frequently Asked Questions - IBAN
Frequently Asked Questions - IBAN
Updated over a week ago

General Questions

  1. What is an IBAN, and why do I need one?

    • An IBAN (International Bank Account Number) is a unique code that identifies your bank account across borders. With an IBAN linked to your Gnosis Pay Safe, you can send EUR to the IBAN and mint EURe directly into the safe ready to be spent.

  2. Who is eligible for an IBAN with Gnosis Pay?

    • Right now, IBANs are only available for EURe cardholders and restricted to citizens of some nationalities, you can find the restrictions list here. If your card was issued outside the EU or you have citizenship from one of the restricted nationalities, you’re not eligible just yet. But don’t worry, we’re working on expanding this service to other regions.

  3. How long does it take to get an IBAN?

    • The process of getting an IBAN through the Gnosis Pay app takes approximately three minutes. During this time, your card will be temporarily unavailable.

  4. Can non-EURe cardholders get an IBAN?

    • Not at this time. IBANs are currently only available to EURe cardholders. However, we are looking to expand the service to non-EU regions soon.

  5. Is there a fee for getting or using the IBAN?

    • No, there is no fee for obtaining or using the IBAN linked to your Gnosis Pay card.

Account and Setup

  1. How do I link my IBAN to my Gnosis Pay Safe?

    • Your IBAN is automatically linked to your Gnosis Pay Safe when you complete the setup process in the app. Once generated, it will be associated with your Safe for receiving EUR and minting EURe.

  2. Can I cancel or change my IBAN after it’s been issued?

    • Once an IBAN is issued, it cannot be changed. If you need to cancel your IBAN, please contact our support team for further assistance.

  3. What information do I need to provide to set up my IBAN?

    • You don’t need to provide any additional information, as your KYC (Know Your Customer) details will be shared with Monerium to issue your IBAN.

  4. What happens if my KYC details are not accepted by Monerium?

    • If your KYC details are not accepted, you will not be able to receive an IBAN. In this case, our support team will help you resolve the issue or provide further instructions.

Using Your IBAN

  1. How do I receive money using my IBAN?

    • You can receive money by sending EUR directly to your IBAN address via a SEPA transfer. This can be done by you or by someone else that wants to send you money.

  2. How do I send money using my IBAN through the Monerium app?

    • To send money using your IBAN, log in https://monerium.app, you can use your registered email with Gnosis Pay to access. Follow the app’s instructions to transfer funds using your IBAN.

  3. How can I view my IBAN details after setup?

    • You can view your IBAN details in the Gnosis Pay webapp by going to the "Add Funds" or "Account" section. Your IBAN will be displayed there for easy access.

  4. What is EURe, and how does it work with my IBAN?

    • EURe is a stablecoin issued by Monerium which is used as Gnosis Pay currency for payments. When you receive EUR funds via your IBAN, they will be converted into EURe (one to one from the euro) and deposited into your Gnosis Pay Safe.

Security and Support

  1. Is my IBAN information secure?

    • Yes, your IBAN and personal information are securely stored and handled in compliance with EU financial regulations. We prioritise the security of your data.

  2. What happens if my card is temporarily unavailable during the IBAN setup process?

    • While your IBAN is being set up, your Gnosis Pay card will be temporarily unavailable for about three minutes. Once the process is complete, your card will be fully functional again.

  3. Who can I contact for help if I encounter issues during the IBAN setup?

    • If you experience any problems during the IBAN setup process, you can reach out to our support team via the chatbot or email at [email protected].

  4. What should I do if my IBAN transaction fails or is delayed?

    • If your IBAN transaction fails or is delayed, check your internet connection and ensure that all steps were followed correctly. If the issue persists, contact our support team for help.

Processing Times and Limits

  1. How long does it take to process IBAN transfers?

    • Own name bank transfers (in & out) are processed automatically 24/7, 365 days a year

    • Automatic processing has a limit of daily (€950), weekly (€5000), and monthly (€20,000)

    • Bank transfers to a different name account are processed during business hours Monday-Friday 9:00-16:00 UTC and should process normally within a minute, but in some cases Monerium may take longer to process and may request additional data

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