21 October 2017
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Coinfloor integrates UK Faster Payments

01 July 2014  |  2195 views  |  0 Source: Coinfloor

Nearly two months ago, we conducted a survey of our customers on what features were most strongly desired.

Almost half of the votes were for Local UK payments. You chose, we delivered. Today we are proud to inform you that we have integrated Faster Payments, a deposit method that is fast and completely free when transferred from UK banks. We are also waiving the GBP deposit fee for all customers depositing into our Capital Account.

Following the customer survey, we made every effort to work with innovative British financial institutions, discussing Bitcoin, client funds protection and the services we wish to provide. It should come with no doubt that our users support, trust and activity on Coinfloor made a significant point in those conversations. With users in mind, we became the first exchange to prove solvency on the block chain. We are also the only exchange to use Bitcoin's native multisignature functionality to protect client funds, holding 100% of funds offline in cold storage. Now we are proud to be launching Faster Payments deposits. We would like to take this opportunity to thank you, our valued customers, for your support and recognition which has helped make all of this possible.

We remain focused on providing the solid, robust and easy to use bridge between Bitcoin and the existing British financial system. The Isle of Man Government has been looking at Bitcoin and monitoring digital currency as a growing industry for the Island for a long time. Coinfloor has been exploring Bitcoin together with the friendly people in the Isle of Man Government since early 2013 and as the industry has matured, the Isle of Man Department of Economic Development released a statement regarding Bitcoin. We are proud to be working with the Capital International Group and Capital Treasury Services to provide UK Faster Payments to all Coinfloor customers. We would like to extend a special thanks to John Cookson and everyone in the Isle of Man Department of Economic Development for helping make this dream become a reality.
Key highlights:

You can now deposit funds with unds with Coinfloor from UK via local bank transfer (Faster Payments) for free.

We will process deposits daily at 2 PM on business days. Faster Payments will usually credit in your account the same day but may take up to 24 hours.

All you need to do is copy the new UK bank details including your new reference code from Coinfloor's Deposit page.

Minimum deposit amount for the Capital Account is £500. Deposits below £500 can be made to our PKO account in Poland. Withdrawals will still be sent out from PKO while we transition over to the new setup.

Coinfloor still does not impose maximum transaction limits.

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