The London-based digital asset exchange, CEX.IO once again debuts its bank transfer service after encountering issues with user withdrawals. The exchange promises seamless fiat transfers in Euro, U.S. dollars, and British pounds.
The users of the CEX.IO exchange are now able to deposit and withdraw fiat currencies to and from their bank accounts using a new system since Wednesday. This new system hopes to address some of the exchange’s woes that it had been facing for the past couple of months.
The exchange started offering its users the facility of adding and removing Euro, U.S. dollars, and British pounds to and from their accounts at the beginning of December 2017. Users were allowed to make these transactions using either SWIFT or SEPA wherever applicable.
However, soon reports of significant delays in the withdrawal process began to appear on Reddit and other social media platforms. Some users panicked after they called their banks to figure out that they couldn’t find any pending SWIFT messages to their accounts. Apparently, one user waited for almost a month for funds to reach his bank.
A spokesperson of the CEX.IO exchange mentioned that the exchange has been facing issues with its SWIFT integration. CEO Oleksandr Lutskevych said that the exchange is devoted towards making bank transfers secure and fast for its clients. He added that the newly launched wire transfers on the exchange will enable its users to manage their funds more conveniently and will also improve their experience.
As reported by Cryptovest, along with re-launching bank transfers for fiat currencies, the crypto exchange is also offering incentives for users to start making deposits from their bank accounts into the platform.
With this fresh start, the exchange intends to put its past issues behind it and offer a valuable portal for fiat-to-crypto transfers for its users who wish to use bank transfers instead of payment cards.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]