This banking method was developed by a number of banks in the Netherlands, including ABN AMRO, Van Lanschot, and Knab. It has been around since 2005 and works by transferring funds from bank accounts to merchants. Unlike other deposit methods, this one is not meant to hold customer funds and simply processes the payments.
As a secure and easy-to-use deposit method, it can make your crypto purchases hassle-free. If you have an account with a supported bank, you can easily sign up with the payment processor. You also need to sign up with one of the crypto sites that accept iDEAL.
Top 10 sites for buying, selling and trading crypto with Ideal
This is the toplist with the best sites to buy, sell or trade cryptocurrencies with Ideal. To learn more why a certain site is ranked the way it is, you can read our review by clicking the review button. We generally recommend using an exchange or platform with good track record, great reputation and positive feedback from its customers. The better option for you as customer, the better ranking we give them.
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Here are the best crypto exchanges, platforms and brokers offering funding with Ideal.
This payment method is extremely popular in the Netherlands and is even used more than credit and debit cards such as VISA and Mastercard. Any crypto exchange that targets customers in the country has to incorporate this payment method.
Otherwise, it will have a hard time penetrating the Dutch market. Here are the best crypto sites that accept iDeal, so learn more about the positive and negative sides of this payment methods now.
+It has an Android and iPhone app.
+The website and app are user-friendly.
+You will enjoy high levels of security.
+Almost all banks in the Netherlands are supported by this payment system.
+The funds will reflect in real time.
-It is only available to customers in the Netherlands.
-You must have funds in your bank account to use this method.
-Users complain about regular downtime of the system.
-It does not have a free version.
-The customer support can be improved.
What is Ideal?
This online banking processor works with different banks in the Netherlands, and it simply transfers funds from customers to merchants. The banking method offers high levels of security as customers don’t need to link any credit cards. They can simply open bank accounts with approved financial institutions and create accounts on the payment website. This payment method offers quick transfers at low costs.
What about costs with Ideal?
One of the biggest benefits of this payment method is that it doesn’t charge users any fees for the transfers. However, the crypto exchange will still be allowed to charge a fee for the deposits. These fees rarely go over 0.2%.
How is Ideal’s transaction speed?
Transactions made using this deposit method will reflect in your account instantly. When you make the transfer, you should take note of the transaction number, and this will be listed on your bank statement. This number will be essential in cases where there are disputes regarding the deposit. It is important to remember that any delays in the payment will be handled by your bank and not the payment processor.
Ideal Deposits: How to do it?
1. First, you have to log into your account on a crypto exchange.
2. You can then go to the buying section of the website or app.
3. You may need to choose the peer-to-peer or P2P trading option in order to use this payment method.
4. You can then select the currency and amount you want to transfer.
5. After that, you can confirm the payment and complete any verification required.
Which are the main countries where Ideal is used?
This banking method is only meant to be used by customers in the Netherlands. Businesses outside the country have been adding the payment option as it can be used by customers living in the Netherlands. While it is not outright banned outside the country, the payment processor has not worked with any foreign banks to facilitate the payments.
Can you withdraw with Ideal?
Lots of crypto exchanges allow customers from the Netherlands to make withdrawals using this payment method. In such cases, you may have to pay a fee for the transaction. The fee for the withdrawal is usually around 30 Eurocents, but you should check the terms of the crypto exchange to determine how this fee is paid.
Reputation of Ideal
This deposit method is quite popular and is used to process about 54% of all online transactions in the Netherlands. Most people appreciate the fact that it makes online payments easy and secure. People have also noted that it is extremely fast and has wide adoption on domestic and foreign websites. The main issue with the network is that it has not expanded to serve customers outside the Netherlands. If you are unable to use this banking method on a particular crypto exchange, you should consider using PayPal, Apple Pay, or Skrill.
Here are some of the most frequently asked questions about Ideal from our visitors. If you have an additional question, feel free to email us about it – and we’ll do our best to include it.
Is it safe to use this Ideal for cryptocurrencies?
Yes, this banking method is secure since it does not involve the use of credit or debit cards. Instead, you will be making the transfer from your bank account.
How do I set up this banking method?
You will first have to open a bank account with an institution that is supported by the payment processor. You can then add your details on the payment website and link your bank account.
Is this payment method instant?
Yes, this banking option offers instant payments. In rare cases, the payments may be delayed by glitches in the bank, but these are usually cleared up quickly.
When was this company founded?
This payment processor was created in 2005 and is among the oldest forms of online banking in the Netherlands.
Where is the mother company based?
This funding method is based in the Netherlands, and it was developed to operate with banks in the country.