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Bank Onramp via EUR Virtual Account

Overview​

Assign a bank account number (e.g., IBAN) to a given customer to receive repeatable fiat deposits which are automatically converted to the defined CryptoCurrency and optionally withdrawn to a customer's DestinationAddress using the POST workflows/bank-deposit-to-onchain-address endpoint.

Alternatively, or in addition, you can create a US virtual account. For more details on this product, see the Payin via Virtual Account Product page.

Example Scenario​

Imagine a European fintech company automating their cross-border payment operations by integrating a direct API workflow that converts incoming EUR bank deposits into USDC for international supplier payments. The system establishes automated processing with the company's treasury CustomerID, EUR as FiatCurrency, USDC on Polygon network for lower fees, and their corporate multi-signature wallet address as the destination.

The integration would implement daily automated calls to refresh virtual IBAN details before presenting them to the finance team, preventing failed transfers from expired banking coordinates, while incorporating Enhanced Due Diligence triggers at €15,000 single transaction and €30,000 monthly limits. The treasury system maintains comprehensive audit trails acknowledging the irreversible nature of on-chain transactions and implements real-time EUR/USDC price monitoring to alert financial controllers when market volatility exceeds 2%, enabling strategic timing of conversions during stable periods to maximize the USDC received for their EUR deposits.

Compatibility​

Compatible with Direct Onboarding, Hosted Onboarding, and Token Share Onboarding.

Recipe​

Implement a scenario as described above by following the steps below.

1. Set Up the Environment

Register Your Interest​

Authenticate & Request Signing​

For guidance on generating and configuring your API keys, see the Authentication page.

  • Generate your Sandbox API key via the Business Dashboard.
  • Include your API key in the X-Api-Key header of all requests.
  • Request Signing is optional in Sandbox and required in Production. It is important to setup Request Signing before migrating to Production, to do this see the Request Signing page.

Configure Webhooks​

For guidance on webhook subscriptions and configuration, see the Configuration page.

  1. Optionally whitelist NOAH's Webhook IP addresses, detailed on the Whitelisting section.
  2. Create a webhook subscription for the following event types, the details required to ingest the webhooks are also available on their respective pages.
tip

Throughout the Bank Onramp Workflow, you will receive three webhook events:

  1. FiatDeposit - to notify you when the customer has sent a fiat payment to their assigned bank account number.
  2. Cryptocurrency purchase Transaction event type - to notify you when the fiat has been converted to your chosen CryptoCurrency and credited to your NOAH Account.
  3. Cryptocurrency withdrawal Transaction - to notify you when the funds have been withdrawn to your customer's DestinationAddress.
2. Create a Customer

Create customer records in one of two ways:

3. Call the Workflow Endpoint

Call the POST workflows/bank-deposit-to-onchain-address endpoint, passing the following data:

  • CustomerID: pertaining to the customer initiating the Onramp.
  • Transaction Details: including the FiatCurrency, CryptoCurrency, withdrawal Network and DestinationAddress

Polygon Testnet Amoy Example​

curl -L -X POST 'https://api.sandbox.noah.com/v1/workflows/bank-deposit-to-onchain-address' \
-H 'Content-Type: application/json' \
-H 'X-Api-Key: <X-Api-Key>' \
--data-raw '{
  "CustomerID": "321434324",
  "FiatCurrency": "EUR",
  "CryptoCurrency": "USDC_TEST",
  "Network": "PolygonTestAmoy",
  "DestinationAddress": {
    "Address": "0x370206496048f4eDbe60e3AcBD4CFEC50B2433bd"
  }
}'

Solana Devnet Example​

curl -L -X POST 'https://api.sandbox.noah.com/v1/workflows/bank-deposit-to-onchain-address' \
-H 'Content-Type: application/json' \
-H 'X-Api-Key: <X-Api-Key>' \
--data-raw '{
  "CustomerID": "6482917350",
  "FiatCurrency": "EUR",
  "CryptoCurrency": "USDC_TEST",
  "Network": "SolanaDevnet",
  "DestinationAddress": {
    "Address": "ANVUJaJoVaJZELtV2AvRp7V5qPV1B84o29zAwDhPj1c2"
  }
}'
tip

For details on the USDC_TEST token above, see Sandbox Testnet Currencies.

You will receive a 200 response to indicate that the bank account number has been assigned to the customer and is prepared to accept a fiat deposit. All the newly created virtual account details are shown to you, including the account holder name, accout number, bank address, bank code, and payment method type. In the example below, all numbers are replaced by zeroes.

{
    "AccountHolderName": "NOAH LT UAB",
    "AccountNumber": "DE00000000000000000000",
    "BankAddress": {
        "City": "Munich",
        "Country": "DE",
        "PostCode": "00000",
        "State": "BY",
        "Street": "Maximilianstrasse 00"
    },
    "BankCode": "SXPYDEHHXXX",
    "BankName": "BANKING CIRCLE S.A.",
    "PaymentMethodID": "Bank/Sepa/EUR/SXPYDEHHXXX/DE0000000000000000000/000000000",
    "PaymentMethodType": "BankSepa"
}
4. Receive Webhook Events

Receive the FiatDeposit Webhook​

  • You will receive a FiatDeposit event type when a customer performs a fiat Deposit into their assigned bank account number. See FiatDeposit Event.

Receive the Transaction Webhooks​

  • You will receive a Transaction event when NOAH completes the fiat to Crypto exchange. See Transaction Event.
  • You will receive a second Transaction event when NOAH completes the Crypto Withdrawal to the customer's DestinationAddress.
5. Simulate a Fiat Deposit

In the Sandbox environment, you can simulate a fiat deposit, to trigger webhooks and transactions.

Use the PaymentMethodID retrieved from step 3 to call the POST sandbox/fiat-deposit/simulate endpoint.

curl -L 'https://api.sandbox.noah.com/v1/sandbox/fiat-deposit/simulate' \
-H 'Content-Type: application/json' \
-H 'Accept: application/json' \
-H 'X-Api-Key: <X-Api-Key>' \
-d '{
  "PaymentMethodID": "string",
  "FiatAmount": "10.1",
  "FiatCurrency": "EUR"
}'

This triggers a FiatDeposit event, and the automated workflow will continue to the cryptocurrency purchase step.

Guardrails​

Your customers may use their individually assigned Virtual Accounts for use cases that comply with the Guardrails below.

EUR Virtual Accounts​

Receive First-Party Deposits from​

  • The customer’s own bank, fintech app, or brokerage account.

Receive Third-Party Deposits from​

  • Registered businesses sending EUR from a domestic business account
  • A close friend or family member’s bank account

Limits​

  • Single-transaction limit: 15 000 EUR — any transaction that exceeds this limit triggers an Enhanced Due Diligence (EDD) review.
  • Monthly aggregated limit: 30 000 EUR — the transaction that pushes a customer over this volume triggers an EDD review.

Enhanced Due Diligence (EDD) Process​

When an EDD review is triggered, NOAH’s Compliance team will request documentation according to the KYC model your business uses.

ModelWho receives the Request for Information (RFI)Information requested
Reliance ModelYour compliance team• Proof of Source of Funds (SoF)
• Full KYC pack
• Purpose of the transaction
Standard ModelYour customer (via the email address on file)• Proof of Source of Funds (SoF)
• Purpose of the transaction

Deposits requiring EDD are frozen at the FiatDeposit step until the requested information is received. Once EDD is completed, funds are unfrozen, converted to the defined cryptocurrency, and withdrawn to the customer’s DestinationAddress. If the documents are not provided within 10 days of the RFI, the transaction will be rejected and the funds automatically refunded.

Important Note​

NOAH reserves the right, at its sole discretion, to:

  1. Request further information and/or documentation for any payment made by a third party; and
  2. Amend and/or update these Guardrails from time to time.