Safello, one of the more popular European Bitcoin exchanges, is expanding their vast array of payment options for UK customers. As the United Kingdom is proving to hold a big customer base for people looking to both buy and sell bitcoin, European exchanges have to adapt to the growing demand. Offering faster payment methods is an important step in the right direction, which will in turn help with bitcoin adoption in the UK.
Bitcoin enthusiasts from the United Kingdom previously could only buy and sell bitcoin through either SEPA transfer or international bank transfer, which takes several business days to complete. Needless to say, a lot of customers are rather unhappy with those options, and the Safello team has gone the extra mile to offer faster payment options.
Banking relations in the United Kingdom still prove to be difficult at best, as Bitcoin companies are unable to secure bank accounts to offer their services to the public. Safello has managed to make some headway in this area, although they are not disclosing the name of the financial institution the company has partnered with.
Speedy delivery of bitcoins to all UK customers is ensured thanks to the addition of Faster Payments to the Safello platform. Whereas wire transfers take days to complete, and come with a fee of several Pounds Sterling to execute, Faster Payments takes mere hours to complete a transaction, with a fee of just pennies.
Faster Payments is available to any UK bank branch in existence, although there may be a limit on the amount of money you are allowed to send. Individual customers will never run into these limits, but things may be slightly different for businesses.
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