Fiatswaps charges a flat 2% on every swap. It is priced into the swap before the USDC is sent, so the recipient receives the net amount. There is no Fiatswaps fee on top of it.
What the 2% covers
The 2% is net of all fees. It covers the swap from fiat to USDC and the transfer of that USDC to the recipient's USDC wallet. There is no separate conversion fee, no FX markup, and no second Fiatswaps charge after the swap.
The same 2% applies whether the recipient is an individual or a business, and it does not change with the size of a payment or the volume a recipient receives.
How the fee is applied
The 2% is taken on the rate used for the swap, so the swap rate is the market rate less 2%. The recipient is not billed separately and nothing is deducted from their USDC wallet afterwards.
Example: A payment of 1,000 EUR arrives in a recipient's EUR IBAN. The swap is priced at the market EUR/USD rate less 2%, so the USDC sent to their wallet is worth 980 EUR at that market rate.
Every completed swap appears in your dashboard with the fiat amount received and the USDC sent, so you can check any payment against this.
What sits outside the 2%
Two costs are real but are not Fiatswaps charges:
- Sending bank charges on a currency mismatch - if a payer sends a currency the account is not denominated in, USD to an EUR IBAN for example, the sending bank converts it at its own rate and applies its own international transfer charges before the money arrives.
- What happens to the USDC after it arrives - swapping the USDC into another token, in a wallet or on an exchange, costs whatever that service charges.
If an amount looks short, work through the checks on a low amount before assuming a fee was applied twice.
Next: Check a payment that came in lower than a flat 2% implies. Amount received →