# Banking \[Verify the team's entity to move between crypto and fiat]

Banking is opt-in: once a team completes legal entity verification, it can move between crypto and fiat directly in Splits.

* [Onramping](/banking/onramping): fiat in, by ACH, wire, or SEPA
* [Offramping](/banking/offramping): crypto out, to the team's own bank accounts
* [Paying vendors](/banking/paying-vendors): crypto out, to someone else's bank account

On/offramps cost 0.25%, deducted from the transaction amount. Setting up banking (verification, bank accounts, onramp details) requires the [Owner](/teams/roles) role.

## Getting verified

Go to [Settings > Banks](https://app.splits.org/settings/team/banks/) and select *KYB* (for businesses, including solo-member pass-through LLCs) or *KYC* (for individuals). You'll be brought through an entity verification flow powered by [Bridge](https://www.bridge.xyz/). **Each team can only have one verified entity.**

KYC is typically near-instant; KYB typically takes 5-7 business days. Bridge will email you directly if additional documentation is needed. The verified entity's details also supply the counterparty information (the "travel rule") required on every on/offramp, so no per-transfer paperwork is needed.

## Jurisdictions

Splits supports **US- and EU-based individuals and businesses**, excluding [countries not supported by Bridge](https://apidocs.bridge.xyz/platform/customers/compliance/supported-countries-list#supported-countries-list) and, within the US, New York and Alaska ([Bridge's US details](https://apidocs.bridge.xyz/get-started/introduction/what-we-support/geo#united-states-specific-details)).

If you live elsewhere, you can still use banking as long as your entity is legally registered in the US and you have a US- or EU-based bank account. Because bank accounts are added by routing/account number (US) or IBAN (EU), accounts at fintechs like [Wise](https://wise.com) generally work like any other bank account.

For what KYB requires, see [Bridge's business onboarding docs](https://docs.google.com/document/d/1UjwaXWHNEs3PTaj2R2l_CLxGApj8Uc8NHlL_WVd6TFY/edit?usp=sharing). Email support to request another jurisdiction.