This article explains what a KAST GBP virtual account is and how to set one up. You’ll learn who is eligible, where to find your account details, and how to use them to receive pound sterling (GBP) deposits through Faster Payments.
What is a GBP virtual account?
Your KAST GBP virtual account gives you UK receiving details within the KAST app, including a personal sort code and account number. These details let you receive GBP deposits from UK banks through the UK’s Faster Payments service (FPS).
Already have a USD virtual account on KAST? You can keep it and have a GBP virtual account too.
Can I get a GBP virtual account?
GBP virtual accounts are available to all KAST users in the UK and EU, as well as Premium and Private members in other markets.
Before you get started
You must complete identity verification before setting up your GBP account.
If you already have an approved USD virtual account with USD account details, you don’t need to repeat the full identity verification (KYC) process to add a GBP account. However, additional KYC information may be required for your GBP account. The information required depends on your respective case, and you will be prompted to provide it.
How do I set up my GBP virtual account?
You can find your GBP virtual account under Receive in the KAST app.
- Open the KAST app.
- Go to Receive.
- Choose GBP and follow any prompts to set up your account or provide additional information.
- View your GBP account details to find your personal sort code and account number.
How do I receive GBP deposits with my virtual account?
Once your GBP virtual account is ready, use its sort code and account number to receive GBP transfers through Faster Payments. To receive a deposit:
- Go to Receive in the KAST app and open your GBP account details.
- Use your personal sort code and account number as the recipient details for the transfer.
- Send GBP through Faster Payments (FPS).
- Check your KAST transactions for the incoming deposit.
When will my deposit arrive?
GBP deposits sent through Faster Payments can arrive within seconds. Arrival times can vary, so instant receipt is not guaranteed.
What does a GBP deposit cost?
Each GBP deposit has a flat USD 2 fee. There will be no additional FX fees charged on top of that.
Need a hand?
I can’t find the GBP account option
If you are eligible for the GBP virtual account but can’t find the GBP account option in your app, do contact KAST Concierge for help.
My deposit hasn’t arrived
First, check that the transfer was sent to the correct account number and sort code.
If you still need help, contact KAST Concierge. Have your transfer details handy so our team can look into it:
- The amount and when the transfer was sent
- The sender’s name and bank, if available
- The payment reference, if one was used
- A screenshot of your GBP account details, if requested
Can I keep my USD virtual account when I add GBP?
Yes. You can have both GBP and USD-denominated virtual accounts in KAST.
I already have a USD account details on KAST. Do I need to verify my identity again?
You do not need to repeat the full identity verification process if you already have an approved USD virtual account. However, we may request some additional KYC information that are specific for your GBP account.