A recipient can hold two sets of account details: an EUR IBAN for EUR payouts and a USD SWIFT account for USD wire payments. Give a platform the set that matches the currency it pays out in. Either way, Fiatswaps swaps the payment to USDC and sends it to the recipient's USDC wallet.
1. Match the details to the payout currency
Check the payout currency in the platform's settings first, then give the matching details:
| Payout currency | Details to give the platform | How the payment arrives |
|---|---|---|
| EUR | The recipient's EUR IBAN | SEPA transfer |
| USD | The recipient's USD SWIFT account | SWIFT wire |
Both sets sit on the same recipient, under My Recipients → recipient → Payment methods, on the EUR and USD tabs.
The EUR IBAN is a Danish IBAN and starts with DK. That is the country of the EUR rail, not a restriction on where the payer can be.
2. Create the USD SWIFT account
Each recipient gets an EUR IBAN once their verification is approved. The USD SWIFT account is created per recipient, when you need it:
- Go to My Recipients and open the recipient.
- Open Payment methods and select the USD tab.
- Click Create USD account.
- Wait for the details to appear. The tab shows Awaiting account while the account is being issued.
Note: You don't need a US bank account of your own to create a USD SWIFT account for a recipient.
3. Copy the details into the platform's payout settings
Copy the details out of Fiatswaps rather than retyping them:
- Open Payment methods for the recipient and select the EUR or USD tab.
- Click Copy all instructions.
- Paste them into the platform's bank transfer payout settings.
- Check that the account holder name saved on the platform matches the person or entity verified during KYC or KYB.
4. If the currency doesn't match the details
A payment sent in a currency the account isn't denominated in is converted by the sending bank before it arrives, and that bank applies its own FX and international transfer charges. Less money reaches the account than the platform sent.
Fiatswaps charges a flat 2%, net of all fees. A shortfall bigger than that was taken before the payment reached the account, by the bank that converted it.
Warning: Send USD to the USD SWIFT details and EUR to the EUR IBAN. Sending USD to the EUR IBAN leaves the conversion to the sending bank, and the payout arrives short.
Next: Check which currencies and transfer types an account accepts. Supported currencies →