Higher Limits and Borderless Transactions – Wirex Launches IBAN

Wirex, a leading crypto and traditional currency payment platform, launches IBAN on EUR accounts for users in Spain and France whilst increasing account limits – making them some of the highest limits in the industry.

Wirex, a leading UK FCA licenced crypto and traditional currency payment platform, launches IBAN on EUR accounts for users in Spain and France. The IBAN launch is being trialled for users in Spain and France before being rolled out into the rest of Europe.

“Following collaboration with our financial partners, we have been able to expand our payment offering,” explains Wirex co-founder Pavel, Matveev. “We want to improve the Wirex experience for all users whilst continuing to bridge the gap between our service and conventional finance platforms.”

IBANs (International Bank Account Numbers) were first adopted by the European Committee for Banking Standards (ECBS) to facilitate cross-border payments within the EU. Since then, the function has been adopted globally, with some 69 countries from Asia to the Caribbean using the IBAN system to help fulfil international remittances.

As well as the introduction of IBANs in parts of Europe, this week also sees the doubling of Wirex account limits, making them amongst the highest in the industry. Users in the EEA are now able to fund their accounts with £15,000, €16,000 and $20,000 respectively. Wirex has always listened to their customers; the increased limits were introduced as a result of high demand. This new feature gives users even more reasons to adopt the Wirex Visa card as their everyday method of payment

Dmitry Lazarichev, co-founder says, “Our recent steps towards providing a more streamlined and well-rounded service are reflected in the IBAN and account limit updates. Our mission remains to become a smarter alternative to traditional banking, allowing our customers to use Wirex with confidence.”