A withdrawal bank account is the euro bank account a USDC-to-EUR payout is paid into. Each recipient has its own, and an account has to be added and approved before a payout can select it.
1. Add the account
Add it on the recipient whose USDC will be sent:
- Go to My Recipients, open the recipient, and select the Off-ramp tab.
- Click Add withdrawal bank.
- Under Select recipient type, choose who holds the account: This recipient, Another individual, or Another business.
- Enter the Full name of account holder, the IBAN, and the BIC/SWIFT code.
- Leave Use verified address on file on, or switch it off and enter an Address line and city.
- Click Add bank.
Note: The withdrawal currency is EUR and cannot be changed. The account has to be a euro account reachable over SEPA.
2. Wait for it to be approved
A new account is checked before it can receive anything, so it is not usable the moment you add it. Which message you see after Add bank tells you where it is:
- Withdrawal bank added. The account is active and can be paid out to straight away.
- Withdrawal bank submitted for approval. The account is saved and waiting. It cannot be selected for a payout yet.
Click Refresh banks to pull the current status rather than reloading the page. An account that shows as rejected 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 Off-ramp tab lists each saved account with the last four digits of its IBAN, its currency and rail, and its status. Compare those four digits against the account you meant to add before sending any USDC.
An account only appears as the Linked bank once it is active. If nothing is linked, either no account has been added or the one you added is still waiting.
4. Paying out to someone else's account
The account does not have to belong to the recipient. Select recipient type records whose it is, and the three options cover the recipient, another individual, and another business.
The Full name of 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 active account linked, send the USDC. USDC to EUR payouts →