Is Monerium crypto friendly?
Yes. Monerium is built for moving euros between bank rails and your own wallet, but its terms ban using the IBAN for P2P crypto platforms.
CBL Score: 10 of 16
| Criterion | Score | Source |
|---|---|---|
| Accepts exchange transfers | yes (2) | source · checked 8 September 2026 |
| Stablecoin off-ramp | yes (2) | source · checked 8 September 2026 |
| Business accounts for Web3 | yes (2) | source · checked 8 September 2026 |
| Custody | no (0) | source · checked 8 September 2026 |
| Staking and yield | no (0) | source · checked 8 September 2026 |
| Card | no (0) | source · checked 8 September 2026 |
| Multiple jurisdictions | yes (2) | source · checked 8 September 2026 |
| Open to retail | yes (2) | source · checked 8 September 2026 |
Total 10 of 16. Yes scores 2, partial 1, no 0. A secondary source is press or a third party rather than the bank or its regulator. Unverified means no source could be found; the score stands until one is.
Standing
| Jurisdiction | Iceland · EEA |
| Type | Business banking |
| Health tag | Solid Regulated e-money institution, EURe white paper in the MiCA register. The Icelandic regulator published AML findings in March 2024 with a remediation order and no fine. · checked 26 August 2026 |
| P2P tolerance | Strict Purpose-built for moving euros between bank rails and your own wallet, and closed to P2P by contract: section 17 of the personal terms bars using the IBAN to send or receive funds for coins traded on centralised P2P platforms, and section 16 bars third-party pass-through. terms · community-reported, separate from the score |
| Last verified | 8 September 2026 |
If they close your account
Closure policy: Partial
| Notice | Clause 22.1: Monerium may suspend or terminate the relationship unilaterally, without liability, if it suspects you of violating the Terms, other terms, its internal policies or applicable law. No notice period is stated; you are notified electronically. Clause 3.3: suspension for breach comes with reasonable advance notice where the law allows, but can be immediate if your use could create legal liability or disrupt other customers. Clause 22.2: its payment partner (LHV) can direct immediate termination of the IBAN service. |
| Reasons given | By category only (terms breach, security risk, missing documents) |
| Access to funds | Clause 22.1: on unilateral termination the full monetary value of your e-money is redeemed, less fees, as soon as reasonably possible. Monerium may delay redemption or follow authority instructions if the funds are suspected of being unlawful, used for terrorist financing or money laundering, or used in breach of the Terms, and may consult the Icelandic FIU. Clause 11: e-money linked to blacklisted addresses can be frozen and redemption rights forfeited. |
| Appeal | No internal appeal against termination is described. Clause 23.5 and 23.6: complaints go to the help desk under the Customer Complaint Policy; if unresolved you can take the dispute to the Icelandic Complaints Committee on Transactions with Financial Firms under Article 42(2) of Act No. 17/2013. Monerium is supervised by the Financial Supervisory Authority of the Central Bank of Iceland. |
| Names crypto as a ground for closure | yes. Clause 17 lists the use of centralised crypto P2P platforms through the Monerium IBAN as a prohibited transaction, and clause 2 says breach of the Terms can lead to termination. |
Sources: Monerium Personal Terms of Service, effective 20 May 2025, clauses 3.3, 11, 17, 22 and 23.6 · official, checked 23 September 2026
Monerium Complaint Policy, effective 18 March 2026 · official, checked 23 September 2026
A closure usually starts as a freeze. The Frozen Account Survival Kit covers the first 48 hours. Every bank side by side: which banks tell you why they closed your account.
What Monerium allows and blocks
Allowed
- A personal or business euro IBAN in your own name, linked to a self-custody wallet on Ethereum, Gnosis, Polygon, Arbitrum, Base, Linea, Scroll, Noble or Camino
- Euros sent to the IBAN by SEPA are minted as EURe in your wallet; EURe sent back is burned and paid out as euros to any SEPA bank account
- Third-party SEPA payments in and out: salaries, invoices, taxes, and payments from any SEPA-connected bank account
- SEPA Instant settlement in about five seconds, standard SEPA within one business day
- Business accounts and API access for wallets, DeFi platforms, exchanges, fintechs and card programs
- Spending EURe through partner cards such as Gnosis Pay and MetaMask Card, which are separate products with their own issuers
Blocked or restricted
- Using the IBAN to receive or send funds for coins sold or bought on centralised P2P crypto platforms (personal and business terms, section 17)
- Receiving a payment from a third party and then sending the matching amount of e-money back to that same party without Monerium's approval (section 16)
- US residents, and sending e-money to US residents
- Your first payment must come from an account in your own name at an EEA bank; the IBAN takes EUR only, so no USD or GBP deposits
- GBP IBANs are not offered, so GBPe cannot be minted from a bank transfer; USDe has no published bank rail
- Monerium does not hold crypto, offer staking or yield, or issue its own card
- Anyone under 18, sanctions matches, prohibited nationalities, PEPs without source of funds, and people active in gambling, adult entertainment, arms or unlicensed crypto services
Opening an account
- Individuals need a passport, ID card or residence permit, a liveness selfie, and a proof of address under three months old from a utility, government body, or a traditional bank (digital-only bank statements are not accepted).
- Businesses give registered name, company number, country of incorporation, beneficial owners and directors, certificate of incorporation, and ID for the relevant people. Partners integrating the API can be live in as little as two weeks; a time for personal accounts is not published.
- Your first euro payment must be sent from an account in your name at a bank in the EEA. Customers from restricted-tier countries also have to show source of funds before approval.
- Nationality and residency are screened separately. A prohibited nationality is a hard block wherever you live, and any country not on Monerium's allowed or restricted lists is rejected automatically.
- There is no minimum balance and no account fee. US residents for tax purposes cannot sign up.
Fees that matter
- Monerium currently charges nothing: no account fee, one free IBAN per customer, free SEPA transfers in and out, and no charge for minting or burning EURe.
- The fee schedule says charges may be introduced later with notice. There is no trading spread because Monerium does not trade; swaps between EURe and other tokens happen on third-party venues such as CoW Swap at their rates.
- No FX is offered. The IBAN accepts euros only, so a USD or GBP transfer will not land.
Regulatory history
| 2019 | Monerium EMI ehf. received an electronic money institution licence from the Financial Supervisory Authority of Iceland on 14 June 2019, passportable across the EEA; by November 2019 it was passported to Denmark, France, Germany, Lithuania, Sweden and the UK. source |
| 2024 | The Financial Supervisory Authority of the Central Bank of Iceland published the results of an AML and CFT examination on 27 March 2024, finding deficiencies in risk assessment, PEP monitoring and sanctions screening, with a remediation order and an independent audit requirement. No fine. source |
| 2024 | The Central Bank of Iceland's Financial Supervisory Authority published the outcome of an AML/CFT examination of Monerium EMI ehf. on 27 March 2024: risk assessment, PEP monitoring and sanctions screening did not fully meet Act 140/2018, and the firm was told to fix them and have an independent auditor verify the remediation. No fine was announced. source |
| 2026 | Monerium's EURe white paper appears in the ESMA interim MiCA register as an e-money token issued by an electronic money institution supervised by the Central Bank of Iceland, with the white paper notified on 9 January 2026. Monerium ehf. was separately registered as a virtual asset service provider in Iceland on 19 March 2025. source |
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Questions about Monerium
Can I send euros from Monerium to Kraken or Coinbase?
Monerium does not publish a yes or no for named exchanges. Your IBAN is a normal SEPA account in your own name and can pay any SEPA bank account, so a transfer to an exchange in your name works like any other bank transfer. What the terms do ban is using the IBAN to settle trades on centralised P2P crypto platforms, and routing a third party's money straight back to them.
Is Monerium a bank?
No. Monerium hf. is an electronic money institution licensed in Iceland in 2019 and supervised by the Financial Supervisory Authority of the Central Bank of Iceland, passported across the EEA. SEPA payments run through its partner AS LHV Pank in Estonia. Monerium ehf. was also registered as a virtual asset service provider in Iceland in March 2025.
Is EURe MiCA compliant?
EURe is an e-money token under MiCA. Its white paper is in the ESMA interim MiCA register with a notification date of 9 January 2026, listing the Central Bank of Iceland as competent authority. Each token is redeemable at par by SEPA at any time, and the reserves sit in safeguarded accounts.
What does Monerium charge?
Nothing at the moment. One IBAN per customer, SEPA transfers in and out, and minting and burning EURe are all free. The fee schedule says fees may come later with notice.
Closest alternatives
Yes for euro transfers through a personal Monerium IBAN, but Rebind is an app, not a bank, and it never names exchanges.9/16LHV
Yes. Crypto trading is built into the Estonian app, and the UK arm banks Coinbase and Bitstamp, but coins cannot leave the bank.