Your Bank Is Asking About Payments From a Crypto Provider. Here Is What to Send
Banks may ask businesses for details on transfers to crypto providers under EU anti-money laundering rules. CoinGate explains how to supply the required documentation using existing account records.
A bank’s request for information about transfers to a crypto company is typically routine compliance under EU anti-money laundering rules, not an accusation. Banks must monitor customer transactions and may ask for supporting documents to verify the source of funds. Businesses can respond promptly by providing the correct records the first time, avoiding delays or further scrutiny.
Under EU rules, banks must scrutinize transactions and request source-of-funds information when needed. CoinGate, as a regulated provider, has already verified the business during onboarding, so the required details are already documented. The company behind CoinGate is UAB Decentralized, a Lithuanian entity authorized by the Bank of Lithuania under MiCA and licensed as a payment institution.
Businesses can direct their bank to official regulator listings for UAB Decentralized, including authorization numbers LB002323 and LB002324, and the ESMA Interim MiCA Register. The bank’s compliance officer will prioritize regulator-verified information over a company’s website. CoinGate’s guide helps businesses confirm the provider’s status independently.
To satisfy the bank’s request, businesses can generate a monthly PDF statement, export ledger transactions as a CSV, or use the Orders export to show customer payments. Withdrawals and outgoing payments exports provide records of transfers out of the balance. For formal confirmations, businesses should contact CoinGate support with the bank’s exact request to receive a signed response on letterhead.