A bank account on a recipient is where the EUR or USD from a USDC swap is sent. Each recipient has its own, and an account has to be approved before it gets the USDC address that sends money to it.
1. Add the account
Add it on the recipient whose USDC will be sent:
- Click Swap in the sidebar and choose the recipient next to Recipient.
- Choose USDC under You send, and the account's currency, EUR or USD, under You receive.
- Click Get swap details. If the recipient has no account in that currency yet, the form is already open. Otherwise click the bank account named at the top of the window and choose Add bank account.
- For USD, choose US bank or Bank outside the US.
- Enter the Account holder and the bank details the form asks for.
- Click Add bank account.
The details depend on the currency and where the bank is:
| Currency and bank | Details to enter |
|---|---|
| EUR | IBAN and BIC |
| USD, US bank | Account number and Routing number (ABA) |
| USD, bank outside the US | Account number or IBAN, SWIFT/BIC, Bank name, Bank address and Bank country |
2. Wait for it to be approved
A new account is checked before it can receive anything. Until it is approved, its status shows beside it at the top of the window:
- Under review. The account is saved and waiting. It has no USDC address yet.
- Approved. No label. Its USDC address appears under Send USDC to.
- Rejected or Disabled. The account cannot be used.
While an account is under review, select it and click Check again to pull the current status instead of reloading the page. A rejected account cannot be used, and re-adding the same details will not change that. Contact Fiatswaps support instead.
3. Check the account before you rely on it
The top of the window names the account the swap pays: its holder and the last four digits of its account number. Click it to list the recipient's other accounts in the currency chosen under You receive. Compare those four digits with the account you meant to add before sending any USDC.
The address under Send USDC to belongs to the account named at the top. To remove that account, click it and choose Delete this bank account.
4. Sending to someone else's account
The account does not have to be in the recipient's name:
- Under the form, click Account isn't in Jane Doe's name?, which shows the recipient's name.
- Choose Person or Business.
- Enter the account holder's address, city, postal code and country.
The Account holder has to be the name the bank holds for that account. A mismatch between the name you enter and the name on the account is a common reason a transfer is returned by the receiving bank.
Next: With an approved account, send the USDC. USDC to EUR or USD →