Swap timing

The swap is instant. As soon as a payment lands on a recipient's virtual bank account it is converted and the USDC is sent to their USDC wallet.

So any wait a recipient experiences is the bank transfer reaching us, not the swap itself.

1. The two stages, and which one takes time

A payment moves in two stages:

1. The bank transfer. The platform sends money to the recipient's EUR IBAN or USD SWIFT account. This runs between banks and takes whatever that rail normally takes.
2. The swap. The moment it arrives, Fiatswaps converts it and sends the USDC. This is instant.

Fiatswaps has no visibility of stage 1 and cannot speed it up. Nothing starts on our side until the money is there.

2. What each rail normally takes

Rail	Currency	Typical transfer time
SEPA	EUR	Near-instant, as with any SEPA transfer
SWIFT wire	USD	The normal time for an international wire

These are the rails' own speeds, not a Fiatswaps processing window. A EUR payment usually appears very quickly. A USD wire takes longer because wires do.

3. What the dashboard shows

A completed swap appears in the recipient's activity with the amount received, the last digits of the account it arrived on, and the USDC sent to the recipient's wallet.

There is no in-between state to watch. Until the bank transfer arrives there is nothing to show, and once it arrives the swap has already run.

4. When it is worth checking

Since the swap is instant, a recipient waiting on money is waiting on the transfer. Before contacting support, check the platform actually released the payment and which account details it named. Those two checks explain most cases.