Safello Partnership Enables Direct Crypto Purchases From Users’ Bank Accounts

Six weeks after Swedish-based bitcoin exchange Safello announced rapid 'Faster Payments' deposits for UK customers, its banking partner has withdrawn its services and will close its accounts as of tomorrow. Safello, which received the 14-day closure notice from the undisclosed UK bank on 13th January, said: "there was no base for the decision to shut our accounts down. Nor were we unclear in our communication towards the UK bank prior to getting our accounts approved". Frank Schuil, Safello's CEO and co-founder, told CoinDesk that the exchange will continue to support international wire....

Swedish bitcoin exchange Safello has teamed up with mobile transaction service Swish to enable direct payments for more customers via their mobile devices. The Swish app links to users' bank accounts to send and receive funds instantly, and charges no fees. Transactions are processed once a day, so if you buy bitcoin through Safello using the new service, the process should be completed within 24 hours. Added as part of a push to bring more customers on board, Safello describes its service as now "just the simplest way" of buying bitcoins in Sweden, explaining: "With an account at any of....

Swedish-based bitcoin exchange Safello has announced a new banking partnership that will see it add local deposit options for UK customers. The firm says the move opens up the "underserved" British market for bitcoin buying and could spark a "wave of interest" in the digital currency. Thanks to its new arrangement, Safello now supports payment methods including CHAPS, BAC and Faster Payments - the latter of which is free for standard UK bank accounts and takes around two to three hours to transmit funds. Frank Schuil, Safello's CEO and co-founder, told CoinDesk: "Hopefully we are at the....

Swedish bitcoin exchange Safello is making the push to establish itself as Europe's leading bitcoin exchange with direct payments now available from 86 European banks in 11 countries. Safello is using the instant SOFORT payment system, meaning there will be no need to wait for an international bank transfer to be cleared into the company's accounts. "The only way many people were able to buy bitcoin before was via an international bank transfer. But now they can simply do an immediate payment," Ludvig Öberg, Vice President of Product Development told CoinDesk. "As soon as we get your....

One of the hardest parts of maintaining and operating a bitcoin exchange in the United Kingdom is securing a bank account. Unfortunately, many exchanges in the area are unsuccessful in maintaining a partnership, and Safello thinks this is a catch 22 situation. Safello announced that they've broken through the market today by establishing a banking relationship in London, opening up the UK market for buying bitcoins through normal bank transfers. "This is the result of our company's consistent operation since 2013. We had to build trust with our banking partners and this simply took time.....