The instructions for sending in a wire transfer can be found in the top-right menu of your dashboard. Click the icon, and click "Wire Transfer". 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). Work with your bank to convert your local currency to USD prior to sending.
While we place daily limits on the number of buys you can make via Instant Buys via the ACH system, wire transfers can be used to buy up to $10 million worth of Bitcoin.
US Bank Accounts:
- The wire will typically settle into your account within 1-2 business days.
- 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 settle between 1-2 business days after it is sent by 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, you may be required to provide additional documentation in order to utilize the funds to purchase Bitcoin.
Once your wire has cleared into your Swan account, your dollars will be available to convert into Bitcoin immediately. You can do this by clicking the "Convert Now" button under "My Deposits". Please note that our system will require that you buy in $50,000 tranches. You can purchase several $50,000 purchases right after each other.
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, or for 30 days if the trade is more than $2,500.
Note: For users that have a history of ACH reversals, we continue to lock up ALL purchases (wires included) for 10 or 30 days (depending on the amount of the trade) in order to protect us from potential fraud.
- Always refer to the wire instructions listed on your dashboard. These instructions may change from time to time. The latest information will always be presented in your Dashboard.
- 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 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.
- Enable Two-Factor Authentication (2FA) from your dashboard for higher security, in order to withdraw Bitcoin to your own custody.