Amount received

Why USDC can arrive lower than a flat 2% implies

Written by Fiatswaps

Last updated July 28, 2026

Fiatswaps charges a flat 2% and deducts nothing else. When the USDC that arrives is worth less than the payment minus 2%, 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 2%.

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, often around 2% again. 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 2%.
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 2% itself 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.

Next: What the flat 2% covers, and what it never includes. Pricing →

Frequently asked questions

Does Fiatswaps ever charge anything on top of the 2%?

No. The 2% is net of all fees and is the only deduction Fiatswaps makes on a swap.

A payer sent USD to an EUR IBAN. Why did less arrive?

The sending bank converted the USD to EUR at its own rate and applied its own international transfer charges before the payment reached the account. Those charges belong to that bank, not to Fiatswaps.

The recipient swapped their USDC for another token and ended up around 4% down. Were there two Fiatswaps fees?

No. Fiatswaps took a flat 2% on the fiat-to-USDC swap. The rest was charged by the wallet or exchange that swapped the USDC into another token, which is a separate cost outside Fiatswaps.

Which exchange rate does Fiatswaps use?

The market rate at the time of the swap, less the flat 2%.

The numbers still do not add up. What should I do?

Contact support with the recipient, the date of the swap, and the amount the payer sent. Include the platform's payout receipt if the payment came from a platform.

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