A recipient's virtual bank account accepts two currencies: EUR by SEPA transfer, and USD by SWIFT wire. Every payment it receives is swapped to USDC and sent to the recipient's USDC wallet.
What an account accepts
| Currency | Transfer type | Account details to use |
|---|---|---|
| EUR | SEPA transfer | The recipient's EUR IBAN |
| USD | SWIFT wire | The recipient's USD SWIFT account |
Both sets of details sit on the same recipient, under My Recipients → recipient → Payment methods. The EUR IBAN is issued once verification is approved. The USD SWIFT account is created from the USD tab, per recipient. See EUR IBAN or USD SWIFT for which set to give a platform.
What isn't supported
Fiatswaps doesn't accept:
- Currencies other than EUR and USD - GBP and AED included. The USD SWIFT account is denominated in USD only, even though its bank address is in the United Kingdom, so don't send GBP to it.
- Card payments - an account receives bank transfers only, so card details are not a way to pay into one.
Send in the currency the details are denominated in
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. Fiatswaps charges a flat 2%, net of all fees, so a bigger shortfall came from that conversion.
Note: Check the payout currency in a platform's settings before you enter any details. If the platform pays out in something other than EUR or USD, the sending bank converts it and its charges come out of the payment.
Next: See which set of details to give a platform. EUR IBAN or USD SWIFT →