How to Buy Crypto with CIC Filbanque

Can I Buy Bitcoin with CIC Filbanque?

Yes, CIC Filbanque account holders can purchase Bitcoin and other cryptocurrencies through French digital asset exchanges. The bank enables secure transfers to trading platforms that are regulated by the Autorité des Marchés Financiers (AMF) as Digital Asset Service Providers (DASPs). Clients can easily deposit Euros via bank transfers, credit cards, IBAN and more.

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How to Buy Crypto with CIC Banque

‍CIC Banque customers interested in crypto should consider using eToro, which is registered with the Financial Markets Authority (AMF) as a digital assets services provider. eToro provides access to over 4,500 cryptocurrencies, stocks, commodities, and ETFs. The platform EUR deposit methods through SEPA, bank transfers, credit cards, and debit cards.

Here’s a step-by-step guide to buying crypto with CIC Filbanque on eToro:

1. Account Setup: Start by creating an account on eToro. Complete the verification process to ensure your account is secure and adheres to regulatory standards.
2. Funding Your Account: Go to the 'Deposit' section and add funds to your eToro account using EUR.
3. Selecting Currency: Choose 'EUR' as your transaction currency and pick a payment method linked to your CIC Filbanque account.‍
4. Crypto Investment: Once your deposit is confirmed, use the search function to find and invest in the digital currency of your choice.

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What are the Fees?

When buying crypto using a digital asset exchange, you will encounter several types of fees, including those for depositing funds, trading cryptocurrencies, and withdrawing money. Most platforms charge between 1% to 2% in trading fees.

eToro is an affordable choice, with trading fees starting at 1%, which is more competitive compared to platforms like Coinbase, where fees are around 2%. It offers free EUR deposit options through bank or SEPA transfers, making it a convenient option for CIC customers.

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Is CIC Filbanque Crypto-Friendly?

Yes, CIC Filbanque is considered crypto-friendly and supports the growing interest in digital currencies. The bank allows its customers to transfer funds to exchanges that are licensed as Digital Asset Service Providers (DASPs) by the Autorité des Marchés Financiers (AMF).

Since the introduction of the PACTE Act in 2019, France has established a clear regulatory framework for DASPs and initial coin offerings (ICOs), ensuring a secure environment for crypto transactions. The bank aligns with this framework, enabling regulated interactions with digital asset platforms in accordance with both French and European Union regulations.

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About CIC Banque

CIC Filbanque is an online banking service offered by Crédit Industriel et Commercial (CIC). Designed for both individuals and businesses, it provides a comprehensive range of digital banking solutions that include account management, bill payments, and financial planning tools. Customers have services such as the Epargne Salariale for managing employee savings plans and the CIC Mon Budget for personal budgeting.

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Bottom Line

In summary, CIC Filbanque facilitates fund transfers to AMF-regulated platforms. eToro is registered as a DASP with the AMF and offers instant EUR deposits from CIC Filbanque accounts and cards. It is home to over 30 million users across France and provides a French interface. There are over 4,500 cryptocurrencies, stocks, commodities, ETFs and more.