Where is My Money? A Transactions Troubleshooting Guide

95% of Swapin transactions are completed in 5 mins or less, but in some cases a transaction may take longer to require manual processing. In this article we will cover the most common questions about transactions that have not been completed instantly. 

What to do if anything is wrong with a transaction?

First things first, as a licensed and regulated payments provider Swapin is committed to complete your transaction or solve your issue. We understand it may be challenging not to be frustrated when it comes to your money, but please, be sure we are here to help you. The main rule for solving transaction issues is to contact Swapin Support at customer@swapin.com from the same email connected with your Swapin account and provide a Swapin transaction ID

While it might be tempting to contact us through all our social media channels simultaneously, it's not the most effective way to resolve transaction issues. We do not offer support on social media channels, especially in public post comments or on Telegram chat, as transaction information is private. Rest assured, we will respond to your inquiry via email as soon as we have all the necessary information about your case.

How to find my transaction ID? 

  1. Sign in to Swapin App

  2. Open “All transactions”.

  3. Click on a transaction you are interested in. 

  4. Copy the info on the ID field, this is your Swapin transaction ID. 

Typical transactions issues

Using non-instant SEPA bank account 

Fiat processing time depends on the type of your bank account. Currently, Swapin supports SEPA payments. It can be instant and non-instanet. For instant SEPA IBANS it takes a couple of minutes to complete a transaction. For non-instant SEPA IBAns it may take up to 2 business days and payments are not processed on weekends, holidays and non-working hours. You can check any IBAN for Instant SEPA support (SCT-inst) on this page.

How to solve this: Once a transaction is done using a non-instant SEPA bank account, there is now way to accelerate it. For the next transactions you may ask your bank for providing you an instant SEPA IBAN or open a new account at another bank that supports it. 

Adding no reference to a fiat transaction details for SwapinBuy

References are essential for your fiat transfers for buying crypto using SwapinBuy. Reference is a mandatory field to fill when you are sending fiat from your bank account to a provided Dedicated IBAN. In case you added no reference, funds will not be received automatically and Swapin Support team will need to process transactions manually.

How to solve this: Make sure you always include a reference number in your bank transaction details when sending fiat. In case you missed it contact Swapin Support at customer@swapin.com. Provide a Swapin transaction ID, and a confirmation of a fiat transaction from your bank. Please be aware that we charge a processing fee of 50 EUR for these types of requests.

Sending crypto to the wrong network or sending the wrong crypto for SwapinPay transaction

It is essentially important to use the right crypto and network for each Blockchain transaction. These cases can be solved by Swapin Support manually for some networks. We will make every effort to locate your payment. Please note that this is a paid service, and there is a charge of 50 EUR. Unfortunately, for some networks, refunds may not be possible.

How to solve this: Contact Swapin Support at customer@swapin.com. Provide a Swapin transaction ID, and a Blockchain payment details from the network you used. Please be aware that we charge a processing fee of 50 EUR for these types of requests.

SwapinPay transaction is completed, but there is no fiat on a provided bank account

If SwapinPay transaction is marked as completed, it means Swapin has sent fiat to the provided bank account, but the final processing is dependent on your bank. 

How to solve this: Please contact your bank to inquire about the status of the transaction.

Transaction is pending because of compliance reasons 

As a licensed and fully regulated service provider, Swapn follows the EU compliance requirements. Also, each bank follows its own compliance procedures for fiat transactions. For some transactions providing additional information may be needed before a transaction will be processed. Typically Swapin compliance team will ask you to provide a source of funds (may be asked for crypto or fiat), and an invoice you are paying (in case you are using SwapinPay). 

How to solve this: check your email inbox for new emails from customer@swapin.com and/or complience@swapin.com and provide the requested documents. Check your spam folder to make sure you are not missing emails from Swapin.

You sent more of less crypto than needed for a SwapinPay transaction

For SwapinPay transactions, we lock the exchange rate for each transaction for 30 minutes. After this period, the exchange rate will be updated. This may result in the need to send either less or more crypto to achieve the same intended amount of fiat in your bank account. If you send the initial amount of crypto later than 30 minutes, you may receive either less or more crypto than originally planned. You may also send the wrong amount of crypto by mistake. 

How to solve this: If you send less crypto than required, we will send you an email requesting the remaining amount to be sent to the same crypto wallet address. If you send more crypto than required, we will complete your transaction for the required amount as specified in the transaction details. You can contact Swapin Support team to request a refund for the excess amount. Please note that we charge a processing fee of 50 EUR for refunds.

If there is a significant difference in amounts (more than 50%), Swapin Support team will contact you to discuss the next steps for this transaction. 

You sent more or less fiat than needed for a SwapinBuy transaction

For a SwapinBuy transaction we will provide a Dedicated IBAN issued in your name. You need to send the exact amount of fiat as was said on the transaction details to this IBAN and use the provided reference number while you are filling in transaction details on your online banking. But because you enter your transaction details on your online banking manually, you may make a mistake and send less or more fiat than needed to the provided Dedicated IBAN.  

How to solve this: We will process the fiat amount you send and convert it to crypto in accordance with the provided bank account details. However, if there is a significant difference in amounts (more than 50%), Swapin Support team will contact you to discuss the next steps for this transaction.

You sent fiat to your Dedicated IBAN without using a reference number

Swapin’s Dedicated IBAN issued in your name is not a stand alone banking service. It should be used for sending funds only related to a particular SwapinBuy transaction and a reference number should be always used for each transaction. If you send a random amount of fiat to a Dedicated IBAN, a transaction will not be completed and crypto will not appear on a crypto wallet. 

How to solve this: Please use your dedicated IBAN only as a part of the SwapinBuy transaction. Dedicated IBANs provided by Swapin are not a stand alone banking product. Contact the Swapin Support team to request the location and completion of your transaction. Please be aware that we charge a processing fee of 50 EUR for these types of requests.

You sent less than minimum transaction amount (5 EUR equivalent)

To complete a transaction, we need to get from you not less than a minimum amount of 5 EUR. In some cases you can send less. For example, this may happen to SwapinGet transactions, when you send crypto directly from your wallet and Swapin does not control the amount. Also this may happen to SwapinPay transaction when the exchange rate is updated after being fixed for 30 mins. Also humans may make mistakes :) 

How to solve this: please contact Swapin Support team to solve this issue. 

The exchange rates may differ from what you see on exchanges

Typically, crypto exchange rates are displayed in USD, and many customers are used to this format. However, Swapin operates within the SEPA region and does not support USD at the moment. Therefore, we display exchange rates in EUR, which might vary from what you're used to.

How to solve this: Please take note that Swapin's exchange rates are in EUR, not USD.