You can transfer funds to your Plutus Account from a personal bank account under your name. You can then use those funds to either top up your Plutus Card, or to buy PLU or ETH in our DEX.

 

Step by step

We have created a video guide to help you understand the process better, please check it out below:

 For European users, you will be presented with a BIC/SWIFT code instead of the above information. Read more about BIC/SWIFT codes here.

 

1 - Find your Plutus current account information:

1. Log in to your Plutus dashboard here.
2. Click the blue + beneath "Current Account".
3. Your Plutus current account will be displayed:

 

2 - Send a bank transfer from your personal bank account to your Plutus current account:

1. Initiate a transfer from your personal bank account to your Plutus current account.

   • We automatically decline and bounce back any transfers from a bank account not in your name or from any third-party service (as it would show up not in your name).

   • If you are using a joint account, reach out to our support team for name whitelisting. 

   • It is not possible to use the account of a partner, even with explicit permission, unless you also figure as owner of the account in the statements.
2. Fill in the transfer information following the instructions. Note that the name of the fields may vary among different banks or services, for example "Payee" may be referred to as "Counterpart", "Recipient", etc:

   • Amount: as much as you want to deposit.

   • Payee's account: account information obtained in the previous step.

   • Payee's name: YOUR PLUTUS ACCOUNT FULL NAME, this is the name (first name + middle name + surname) as it shows up in your Plutus Account. If you fill "Plutus" or anything else instead, the transfer will be declined and bounced back. If you are unsure, fill in your name in every field available as there is no downside to it.

   • Reference: not relevant, write anything you want

   • Other fields: not relevant. If you are unsure, fill in your name in every field available as there is no downside to it.

3. Send the transfer and your deposit will be available in your Plutus Account once received.

   • Check the section below regarding the speed of the deposits.

   • Any declined and bounced back payment will return to the same account within 5 business days after the decline happens.

   • If you experience any issues with your transfer, reach out to our support team for help understanding and solving the potential issues.

3 - Deposit complete! Feel free to use your funds to top up your Plutus Card or buy some crypto in our DEX!

 

Plutus mobile app

The steps are the same as described above.

For European users, you will be presented with a BIC/SWIFT code instead of the above information. Read more about BIC/SWIFT codes here.

 

Deposit timeframes

Region	Payment system	Timeframe
UK	Bank Transfer	Up to 10 minutes
EEA	SEPA Instant	Up to 10 minutes
EEA	SEPA	Up to 2 business days
EEA	Wire transfer	Up to 5 business days

 

FAQ

What is the cost of making a deposit to my Plutus Account?

Plutus charges no fees for deposits and the full amount received can be spent.

While SEPA and SEPA Instant transfers are typically free in many banks, some decide to charge a service or convenience fee on their own. When this happens, the fee goes to the bank charging it, and not to Plutus.

Other charges that you may incur in with your bank are currency conversion fees, that your bank may charge you to do the deposit in the currencies we support (GBP/EUR) if they are different than the currency of your bank account. The specific amount charged will depend on the bank and currency.

 

Do I have to send GBP if I'm an EUR user? I see the account number starting by "GB".

No, UK based users need to send GBP, while EEA based users need to send EUR, as the accounts don't support other currency respectively.

The reason why all the accounts start by GB (from Great Britain) is because this is the location of our banking partner, but the currency set for an account does not depend on the location. The "GB" accounts opened for our EEA based users are set in EUR currency.

If by mistake you send the wrong currency to the account, you will need to contact our Support team to get a manual refund, as you won't be able to use them in the account.

 

Why hasn't my deposit appeared in my Plutus Account?

The most common cause is that the transfer has been declined and bounced back, which takes some time for you to see the funds back to your bank account. The main reasons for declines are:

• Writing "Plutus" instead of your Plutus Account name in the "Payee" field.
• The name (or nickname) of your bank account doesn't match the name of your Plutus account.
• Transfer sent from a third-party service that replaces your name with theirs.
• Other transfer issues related to your banking service or the transfer itself.

Be mindful that some bank services allow you to set up account nicknames and your bank could be using a nickname (like partial name or surname instead of full name) as the name of the Sender.

If you need help in finding out what is the issue, reach out to our Support team.

 

Can I deposit or withdraw funds using a payment method that's not in my name?

No. You can only deposit into your Plutus Account using a payment method in your name, and you can only withdraw funds to an account or card in your name. You can't deposit to a friend's or relative's Plutus account, for example.

 

Do we charge any fees for deposits?

No. Please keep in mind that your bank or provider might still charge a fee for transfers on their own.

 

Is my deposit insured?

Plutus is the trading name of Block Code Ltd, Block Code Ltd is a company registered in England and Wales (09674279). The Plutus Account and Visa Card are issued by Contis Financial Services Ltd who are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (registered number 900025) and UAB „Finansinės paslaugos „Contis“ who are authorised by the Bank of Lithuania under the electronic money institution license No. 53.

 

The Plutus account and Visa Debit Card are electronic money products which are not covered by the Financial Services Compensation Scheme or the Deposit Insurance System of the Republic of Lithuania. The funds will be safeguarded by Contis Financial Services Ltd or UAB „Finansinės paslaugos „Contis“. For any disputes, the Financial Ombudsman Service and the Bank of Lithuania consumers disputes resolutions institution are available.

 

The Plutus Debit Card is an e-money product, and although it is regulated by the FCA and supervised by the Bank of Lithuania, it is not covered by the FSCS nor the Deposit Insurance System of the Republic of Lithuania. We ensure that any funds received by you are held in a segregated account so that in the unlikely event that Contis Financial Services Ltd or UAB “Finansinės paslaugos” becomes insolvent, your funds will be protected against claims made by creditors.