Dear Traders,

Great news for users who frequently make fiat withdrawals!

Phemex has now expanded its payment options to include EUR SEPA (Single Euro Payments Area) and GBP FPS (Faster Payments Service) methods, and significantly reducing withdrawal fees.

New Withdrawal Options
1. EUR SEPA:
•Allows for euro-denominated transfers within the SEPA zone
•Covers 36 European countries, including both Eurozone and non-euro area nations

2. GBP FPS:
•Facilitates rapid pound sterling transfers within the UK
•Designed to speed up the process of sending money domestically

Fee Reduction
The introduction of these payment methods comes with a substantial decrease in withdrawal fees:
• New fee: As low as 2 EUR/GBP per withdrawal
• Previous fee: 30 USD for Wire Transfers
This reduction represents a significant saving for users, making frequent smaller withdrawals more economical.

Benefits
1. Cost-effectiveness: The dramatically lower fees make withdrawals much more affordable, especially for smaller amounts.
2. Speed: Both SEPA and FPS are known for their rapid processing times, with FPS often completing transfers within minutes.
3. Widespread acceptance: SEPA is widely used across Europe, while FPS is the standard for quick transfers in the UK.
4. Simplicity: These methods typically require only the recipient’s IBAN (for SEPA) or account number and sort code (for FPS), simplifying the withdrawal process.