The Fiatswaps fee is priced into the swap and shown on each completed swap in your dashboard; nothing else is deducted. When the USDC that arrives is worth less than the payment minus that fee, the difference comes from the sending bank or from something done after the USDC arrived. Work through the checks below in order.
1. Check which currency the payer sent
A payment sent in a currency the account is not denominated in is converted by the sending bank before it reaches Fiatswaps. USD sent to an EUR IBAN, or EUR sent to a USD SWIFT account, arrives already converted at that bank's own rate and after its international transfer charges. Those charges are the sending bank's and sit outside the Fiatswaps fee.
Give the payer the account details that match the currency they pay in: the recipient's EUR IBAN for EUR, their USD SWIFT details for USD.
Note: A sending bank's charges are taken before the payment reaches the recipient's account, so they never appear in your Fiatswaps dashboard.
2. Check what happened after the USDC arrived
Fiatswaps sends USDC. Converting that USDC into another token, in a wallet or on an exchange, costs whatever that service charges. That cost is the recipient's and is not part of the Fiatswaps fee.
Compare the amount that landed in the recipient's USDC wallet at the time of the swap, not the balance left after a later swap into another token.
3. Reconcile the amount
If the currency matched and the USDC was not swapped afterwards, check the arithmetic:
- Open your dashboard and find the swap. The activity list shows the fiat amount received and the USDC sent.
- Look up the market rate for that currency pair on the date of the swap.
- Convert the fiat amount at that rate and subtract the fee shown on the swap.
- Compare the result with the USDC that was sent.
A small difference is the rate moving between the payment arriving and the swap being priced. The fee rate is the same at any amount and any volume, so a larger payment never carries a larger percentage.
A materially wider gap is not expected. Contact support with the recipient, the date of the swap, and the amount the payer sent.