Coinfloor Boosts UK Deposit Speeds In Customer Satisfaction Bid
Coinfloor is now accepting deposits from the UK via local bank transfer as part of a customer satisfaction effort.
UPDATE (30th June 20:00 BST):
Updated with comment from Coinfloor
UK-based bitcoin exchange Coinfloor is now accepting domestic deposits via local bank transfer in an effort to accelerate its local payments services.
The feature was brought about by popular demand thanks to a Coinfloor customer survey that found that the majority of Coinfloor's users (47%) would like to see faster local payments.
Coinfloor also credited its customers with helping it continue to improve its services, stating:
The news follows Coinfloor's March decision to open customer registration, and its April announcement that it would seek to make its reserves publicly auditable. Coinfloor had originally sought to open registration for its services in November, but cited technical problems as the reason for the delay.
Faster Payments on Coinfloor
The requested local payments feature has now been delivered via UK's Faster Payments Service (FPS). The new deposit method is completely free when the transfer originates with UK banks.
"We are also waiving the GBP deposit fee for all customers depositing into our Capital Account," Coinfloor added.
Deposits will be processed at 2 PM on business days, but may take up to 24 hours. Users will need a copy of their UK bank details including a new reference code from Coinfloor’s deposit page. The minimum deposit amount for the Capital Account is £500.
"Any users depositing less will be charged £20 for having their deposit rejected," Coinfloor added.
Debit cards, margin trading and more
Coinfloor indicated the announcement is part of a broader effort that could find it integrating more offerings suggested by customers.
For example, the survey also revealed that almost one-third of Coinfloor’s users would like to use a bitcoin debit card, and according to the company’s survey chart, work on the card is already in progress. Ten percent of Coinfloor users would add margin trading and short selling functionality, while another 5% are interested in rebates for market makers.
Coinfloor did not indicate whether all these features and services will be eventually become a part of its platform.
Correction: A previous version of this article stated that a maximum deposit amount for the Capital Account is £500.
Image via Coinfloor
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.