FAQ

What is the cost of making a deposit to my Plutus Account?

Plutus charges no fees for deposits and the full amount received can be spent.

While SEPA and SEPA Instant transfers are typically free in many banks, some decide to charge a service or convenience fee on their own. When this happens, the fee goes to the bank charging it, and not to Plutus.

Other charges that you may incur with your bank are currency conversion fees, which your bank may charge you to deposit in the currencies we support (GBP/EUR) if they are different than the currency of your bank account. The specific amount charged will depend on the bank and currency.

Do I have to send GBP if I'm a EUR user?

No, EUR accounts only support SEPA or SEPA Instant payments in EUR currency.

Why hasn't my deposit appeared in my Plutus Account?

The most common cause is that the transfer has been declined and bounced back, which takes some time for you to see the funds back in your bank account.

If you need help finding out what is the issue, contact our Support team.

Can I deposit funds using a payment method that's not in my name?

No, only deposits from a bank account in your name will be accepted.

Is my deposit insured?

Plutus is the trading name of Block Code Ltd, Block Code Ltd is a company registered in England and Wales (09674279) and BLOCK CODE LT UAB, a company registered in Lithuania under company registration (NIPC) number 305848086 whose registered office is at Vilnius, Vilkpėdės g. 22.

Block Code Ltd is a distributor of Modulr FS Limited, a company registered in England and Wales with company number 09897919, which is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr FS Limited. Whilst Electronic Money products are not covered by the Financial Services Compensation Scheme (FSCS) your funds will be held in one or more segregated accounts and safeguarded in line with the Electronic Money Regulations 2011 - for more information please see here.

Block Code LT UAB is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services.

Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act (Wet op het Financieel Toezicht, Wft) - for more information please see here.

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