Cryptocurrency adoption continues to grow, and having a seamless way to manage both traditional and digital assets is becoming increasingly important. The partnership between BitoPro, a well-known local cryptocurrency exchange, and Bankee, the digital banking arm of Far Eastern International Bank, offers a dedicated account solution tailored for crypto traders. This guide provides a step-by-step walkthrough of the application process.
Prerequisites for Application
Before starting the application, ensure you meet the following requirements:
- You must have an active BitoPro account.
- Your BitoPro account must have completed Level 2 identity verification (KYC).
- Have your government-issued ID, a second form of identification, and an existing bank account from another institution ready.
It does not matter whether you already have a Bankee digital bank account or not; the application process will guide you through the necessary steps regardless.
Step-by-Step Application Guide
Starting the Process from BitoPro
- Log in to your BitoPro mobile application.
- On the app's homepage, locate and tap on the banner that says "Apply Now for TWD/USD Dedicated Cryptocurrency Bank Account."
- You will see your currently linked bank account. Select the option that says "Apply to Change to Bankee Account."
- You will be prompted to agree to the terms and conditions. After reading, tap "Proceed to Bankee to Open an Account."
Completing the Bankee Application
You will now be redirected to begin the application for a Bankee Taiwanese Dollar Virtual Currency Trading Account.
- Tap "Apply Now" and carefully read the relevant regulations. Confirm that you have read them by selecting "I have read in detail."
- A reminder screen will appear; acknowledge it by tapping "Confirm."
The subsequent steps involve a series of verifications:
- SMS Verification: A code will be sent to your mobile number.
- ID Upload: You will need to upload clear photos of the front and back of your government-issued ID. Follow the on-screen examples to ensure the images are accepted.
- Data Entry: Input the required personal information from your ID, including your date of birth, date of issue, place of issue, and residential address.
- Upload a photo of your second form of identification (e.g., driver's license, national health insurance card) and proceed.
- Complete the Email Verification step. A confirmation email will be sent to your inbox; click the verification link within that email to validate your address.
- Perform the Other Bank Account Verification. This requires you to provide the details of an existing bank account from another institution to verify your identity.
- Complete a final SMS Verification by entering the 6-digit code sent to your phone.
Finalizing the Agreement
- Review all the terms and conditions of the account agreement. Check the box to confirm you agree and have read the documents, then tap "Next."
- You will see a congratulations screen confirming that your application has been submitted successfully. You should also receive an SMS notification from Bankee acknowledging your application.
Post-Application Steps
- Return to the BitoPro app. Navigate to the "Account" section and select "Linked Bank Accounts."
- You will see the status of your request to change to a Bankee account. The status will typically show as "Under Review." The process usually takes a few business days.
- Once approved, your linked bank account in BitoPro will be updated to "Far Eastern International Bank."
During the review period, you can check the application status within the app to see if any additional documents are required.
Using Your New Bankee Account
After your application is approved and the account is successfully linked, you can access its features through the Bankee app.
- Log in to the Bankee mobile application.
- Inside the app, you will find a section labeled "Investment Settlement Account."
- Tapping on it will reveal details of your account, which should now be connected to "BitoPro."
- This dedicated account is designed to facilitate smooth deposits and withdrawals between your bank and exchange accounts.
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Frequently Asked Questions
What is the main benefit of linking BitoPro with Bankee?
The primary benefit is the creation of a dedicated banking channel for your cryptocurrency transactions. This integration is designed to streamline the process of moving funds between your traditional bank account and your crypto exchange account, potentially making deposits and withdrawals faster and more efficient.
Do I need to have a Bankee account before applying through BitoPro?
No, you do not. The application process is designed for both new and existing Bankee users. If you are new to Bankee, the entire account opening process is integrated into the application flow initiated from within the BitoPro app.
What can I do if my application gets stuck or is rejected?
If your application is under review for an extended period or is rejected, the first place to check is the application status section within the BitoPro app. It often indicates if additional documentation is required. Ensure all uploaded documents are clear, valid, and all entered information matches your official records exactly.
Is there a fee for maintaining this dedicated cryptocurrency account?
The guide does not specify maintenance fees. It is always recommended to review the latest terms, conditions, and fee schedules provided directly by both BitoPro and Bankee before applying to understand any associated costs.
Can I use this account for everyday banking as well?
Yes, the Bankee account is a fully functional digital bank account. While it has a specific integration for crypto trading with BitoPro, you can also use it for other everyday banking needs, such as receiving your salary, making payments, and saving money.
How long does the entire approval process usually take?
The review and approval process typically takes a few business days after you submit all required documents and complete the verification steps. The timeline can vary depending on the volume of applications and the accuracy of the information you provided.