The instructions for sending in a wire transfer can be found in the top-right menu of your dashboard. Please take note that there are different sending instructions for US and International Bank Accounts.
Please note that Swan can only receive US Dollars (USD). Please work with your bank to convert your local currency to USD prior to sending.
While we place daily limits on the amount of buys you can make via Instant Buys via the ACH system, wire transfers can be used to buy up to $10M worth of Bitcoin.
US Bank Accounts:
- The wire will typically settle 2-4 business hours after it is sent by your bank.
- For wires that are sent to Signature with incorrect instructions, they will be held at Signature Bank and will require manual review. This process typically takes between 1-3 business days.
Non-US Bank Accounts:
- The wire will typically settled between 2-5 business days after it is sent by your bank.
- For wires that are sent to Royal Business Bank with incorrect instructions, they will be automatically rejected and returned to your bank.
- Please send US dollars if possible. Wires sent in foreign currencies will be subject to FX conversion rates. Unfortunately, even if the wire is rejected, it will be converted into/out of dollars on receipt/rejection. Therefore, we highly recommend sending US Dollars.
Sender / Recipient Name Mismatch
The name on the bank account you are sending from must match the name entered for verification on the Swan account you are depositing into. If there is a mismatch, your wire may be rejected and returned to your bank.
Once your wire has cleared into Swan, your dollars will be available to convert into Bitcoin immediately. Please note that our system will require that you buy in $50k tranches, so as to manage against any potential slippage.
If you are placing a buy larger than $250,000, please contact us at Swanbitcoin.com/support so that we can execute this buy for you.
Wires > $5k - The Bitcoin will be unlocked for withdrawal 24 hours following the purchase.
Wires < $5k - The Bitcoin will be unlocked for withdrawal 10 days following the purchase.
Note: For users that have a history of ACH reversals, we continue to lock up ALL purchases (wires included) for 30 days in order to protect us from potential fraud.
- Please always refer to the wire instructions listed in your Dashboard. These instructions may change from time to time - the latest information will always be presented in your Dashboard.
- Please double-check that you are in fact sending a Wire, rather than an ACH. ACH transfers will be automatically rejected and sent back to your bank
- Wires are not processed on weekends and holidays. Wires may take longer than to clear due to issues between banks. We are not responsible for longer clearing times, and we cannot lock in a specific Bitcoin price before your wire clears.
- We will report the timestamp and market price on your Dashboard, available via your CSV Download button. There is a 0.99% fee that comes out of the wire upon settlement. We do not charge you fees for trading.
- Please enable Two-Factor Authentication (2FA) from your dashboard for higher security, in order to withdraw Bitcoin to your own custody.
- Please note that Swan only supports wires in US Dollars. If you are sending any other currency, it will be converted to Dollars at the point of receipt.