Banking Access at Locked Money
LOCKED 🔒 MONEY BANKING ACCESS
VIDEO 1: Welcome to BANKING ACCESS at Locked Money
What does Banking Access at Locked Money mean?
**OFF-RAMP** means with just a few clicks, you can send your crypto from Locked Money -- either from your Vault or your Wallet -- directly to your bank. It will arrive in your bank account, converted to your local currency.
**ON-RAMP** is the opposite: Send your local currency from your bank to Locked Money, where it will be converted to a stablecoin and deposited into either your Vault or your Wallet -- your choice.
We've built the easiest, most secure, and most direct on/off-ramp in the industry, so you can move between crypto and fiat without friction, stress, or compromise.
It's available to everyone - for free - at Locked Money
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🔒 Locked Money’s BANKING ACCESS:
VIDEO 2: Using Your Wallet and/or Vault
There are two key things to know before you start on and off ramping.
We'll cover the first one in this video: You can on and off ramp using your Wallet, your Vault, or both.
We've designed this to give you full flexibility.
For example:
- If you have a VAULT, you can send funds from your Vault to your high street bank (that's off-ramping).
- Or, if you have funds in your WALLET, you can send them from your Wallet to your high-street bank.
Conversely, for ON-RAMPING:
- You can send funds from your high street bank to EITHER your VAULT or your WALLET --it's up to you.
EXAMPLE:
If you have £100 in your bank account that you want to send to Locked Money, you can direct it straight to your Vault.
Or, you could send it directly to your Wallet (like MetaMask or Rabby).
In short, you can use your Vault and Wallet interchangeably for on and off ramping.
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🔒 Locked Money’s BANKING ACCESS:
VIDEO 3: Using USDC
When it comes to on and off ramping, we use USDC.
What does this mean?
Let's break it down.
**OFF-RAMPING**
If you want to send funds from your Wallet or Vault to your bank, you'll need to send USDC.
- If you already have USDC in your Wallet or Vault, with a few clicks, you can send it to your bank -- and it will be converted to your local currency and arrive in your bank account.
- If you have another asset (like ETH) that you want to off ramp, simply swap it for USDC within Locked Money first, then send it.
**ON-RAMPING**
Whatever local currency you send (e.g., $100 from a US bank) will arrive as an equivalent amount of USDC.
EXAMPLE:
- In Europe, if you send Euros from your bank, they'll be converted to USDC and deposited into your Wallet or Vault (whichever you choose).
The minimum amount for any on or off ramp transaction is $50.
We may adjust this over time, but for now, ensure each transaction is at least $50.
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VIDEO 4: Getting Started. What You Need to Provide
Before accessing the Banking Area, there are two steps:
1. KYC (Know Your Customer)
2. The Onboarding Process (providing some documents)
Let's cover both, then we'll walk through them.
**1. KYC:**
You only need to do this once.
It's a quick process to verify your identity, as we must comply with banking laws and regulations for traditional finance.
You'll need three things for KYC:
- **Your passport** (or, if you're in the European Union, your national ID card instead -- not a driver's license).
If you're outside the EU and don't have a passport, unfortunately, you won't be able to use Banking Access, as it's a legal requirement.
- **A copy of a bank statement** (as a PDF, from within the last 3 months).
- **A copy of a utility bill** (also as a PDF, from within the last 3 months).
Additionally -- and this is important -- you'll be asked for a screenshot of your Wallet or Vault. This ensures we have the correct details when sending funds to or from your bank.
For example, if you're using MetaMask, provide a screenshot of it; the same goes for Rabby or your Vault.
**Recap of Assets You'll Need:**
- Passport (or EU ID card)
- Bank statement (PDF, last 3 months)
- Utility bill (PDF, last 3 months)
- Screenshot of the Wallet/Vault you'll be using
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🔒 Locked Money’s BANKING ACCESS:
VIDEO 5: Providing a Screenshot of Your Wallet/Vault
One key piece of information required for on and off ramping is details of your Wallet or Vault.
We need to see the full public address (which is completely safe to share).
Prepare this before using Banking Services.
Let me show you exactly what you'll need.
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🔒 Locked Money’s BANKING ACCESS:
VIDEO 6: How to KYC
In this video, let's go through the entire KYC process.
You only need to do this once—it simply verifies you are who you say you are.
Once KYC is complete, we can move to the Onboarding Process and provide the required documents.
We'll walk through the full KYC process here.
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🔒 Locked Money’s BANKING ACCESS:
VIDEO 7: How to Get Banking Access
Now that we've passed KYC, in this video, let's complete the remaining steps to access the Banking Area.
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🔒 Locked Money’s BANKING ACCESS:
VIDEO 8: Off-Ramp
It's very easy to off-ramp -- in other words to send USDC from your Vault or Wallet to your bank.
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🔒 Locked Money’s BANKING ACCESS:
VIDEO 9: On-Ramp
If you want to send funds from your bank to your Vault or Wallet, you can do so easily.
Whatever currency you send will be converted to USDC and arrive in your chosen destination (Wallet or Vault).
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🔒 Locked Money’s BANKING ACCESS:
VIDEO 10: Questions & Wrapping Up!
The best resource for any questions is our GitBook, which we keep updated with everything you need to know. It covers transaction fees, supported jurisdictions, and more.
Commonly asked: What areas are covered for on- and off-ramping?
- **Off-ramping:** Most of the world, including the European Economic Area, US, Australia, Canada, and other non-sanctioned nations.
- **On-ramping:** Similar coverage, but a few areas (like the UK) may not be active at launch.
For the latest info, check our GitBook:
https://locked-money.gitbook.io/locked-money-guide/banking/introduction-to-banking-at-locked-money
Regarding speed of transaction: It varies by jurisdiction but is often very fast—within minutes in many cases.
- Areas using SWIFT may take up to a day.
- In Europe, SEPA is instant, so funds arrive in minutes.
Any questions?
Check our GitBook (link above) or ask in our Telegram Community:
**Telegram:**
https://t.me/locked_money
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