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Bank Transfers

Naewe provides your organisation with the ability to perform bank transfers in order to manage your liquidity according to your crypto on-ramp or off-ramp needs. Specifically:

  • Fiat-to-crypto on-ramp: deposit fiat currency to ensure you have sufficient balance for large crypto withdrawals to your end-users, partners, or your own crypto treasury.

  • Crypto-to-fiat off-ramp: once crypto deposits from your end-users, partners, or treasury have been converted into fiat, withdraw that fiat to your own bank account(s).

As a prerequisite for both flows, you need to register the bank accounts you intend to use in the Dashboard.

The banking functionality is available only via the Dashboard.

Adding and managing a bank account

To perform fiat withdrawals and deposits, you need to register the bank accounts you intend to use for approval, and provide proof of ownership of those accounts.

Adding a new bank account

  1. Open Bank accounts in the sidebar. (In the old dashboard this was under the "Organisation" section.)

  2. Add a bank account and fill in the details, organised in sections: Account holder, Bank (including BIC/SWIFT and, where applicable, BLINC ID), and optionally Intermediary bank. The Label sets how the bank account is referred to in all bank transfers.

  3. Click Review, check the details, and submit.

The bank account is added with status "PENDING" while awaiting approval. A bank account must be approved by our team before it can be used for bank transfers.

Getting a bank account approved for usage

To receive approval, you need to show your ownership of the bank account:

  1. Prepare document(s) showing ownership of the bank account. The document(s) need to clearly state the account number, issuer, beneficiary, and beneficiary's address. Acceptable documents include a bank account statement, a bank reference letter, or similar.

  2. Share the document(s) with our team via email.

Once reviewed and approved, the bank account's status changes to "APPROVED" and it becomes available for bank transfers.

It is advisable to test the fiat flow with a small amount after the bank account is approved.

Managing an existing bank account

At any time, you can edit or delete a bank account from the Bank accounts list, regardless of its status:

  • Any changes to an approved bank account revert its status to "PENDING"; while "PENDING", it is not available for fiat withdrawals or deposits.

  • For significant changes, you may need to provide official documents with the updated account details.

  • Deleting a bank account has no effect on already-executed bank settlements.

Initiating a fiat deposit

Naewe lets you top up the balance of a Business entity using your bank account. The semi-automated process requires you to first inform the system of your intent, then use the provided details to perform the transfer from your bank:

  1. In the top bar, open the Create menu and select Fiat deposit. (In the old dashboard this was in the Billing section.)

  2. Fill in the form: Deposit ID (for your reporting purposes), the Business receiving the deposit, the Bank account you will send from, and the Amount and currency.

  3. Click Review, check the details, and confirm.

  4. On the success screen, copy the beneficiary bank details and the reference you need to use for the transfer.

  5. Wire the transfer from your bank, making sure that you send from the bank account you selected, send the amount you entered, and use the provided beneficiary details and reference.

The system expects a 1-to-1 match between fiat deposit records and received fiat transfers. To allow automatic allocation of funds as soon as they are received: create a new fiat deposit record every time you top up your balance; use only the provided beneficiary details (these can change as we improve our service); and use the provided reference each time.

To see all initiated and completed fiat deposits, open Transactions in the sidebar and choose Fiat deposits; filter by Deposit ID or reference.

Initiating a fiat withdrawal

  1. In the top bar, open the Create menu and select Fiat withdrawal.

  2. Fill in the form: Withdrawal ID (for your reporting purposes), the source Business (only Businesses with available fiat balance are listed), the recipient Bank account, and the Amount. The amount must be above the specified minimum — if the balance is insufficient, use Create → Internal transfer or Create → Balance conversion to pool funds or convert part of your crypto balance. Any processing and service fees are shown in the form.

  3. Click Review, check the summary, enter your 2FA code, and confirm. If your 2FA isn't enabled yet, see Two-Factor Authentication.

To monitor outstanding fiat withdrawals, open Transactions in the sidebar and choose Fiat withdrawals. While the withdrawal is being processed its status is "Pending"; once the bank settlement has been wired, the status changes to "Sent".