Effective Date: Sep 1st, 2025
Understanding SWAPD Bank Wire Payments
SWAPD (operated by VEYYO Limited Partnership, Canada, as Merchant of Record) processes international payouts and refunds in USD via bank wire transfers. While most payments arrive within 1–5 business days, delays can occur due to factors beyond SWAPD’s control. This article explains how bank wire payments work and what you can expect if a payout or refund takes longer than usual.
How International Wires Work
Bank wires for payouts and refunds rarely travel directly from SWAPD’s bank to the recipient’s bank. Instead, they often pass through one or more intermediary banks, each subject to its own laws, regulations, and internal compliance checks. This is normal for international banking and can add time to delivery.
Common Reasons for Delays
- Regulatory Holds – Intermediary or receiving banks may temporarily freeze a payment pending anti-money laundering (AML), sanctions, or anti-terror financing checks. They may request additional information such as the recipient’s date of birth, nationality, or address.
- Bank Holidays – Delays may occur if intermediary or recipient banks are closed due to national or regional holidays.
- Incorrect Payment Information – If the payout details provided are incorrect, the wire may bounce back to SWAPD’s bank. In such cases, a $30 USD bank fee applies.
- Currency Issues – SWAPD wires funds in USD only. Accounts that cannot accept USD will automatically reject the transfer, incurring a $30 USD return fee.
- Challenging Jurisdictions – Certain countries with stricter regulations, outdated banking infrastructure, or “high-risk” classifications may experience extended payout times.
- Income Verification – Some recipient banks require proof of the purpose of funds before releasing them. SWAPD can provide supporting documentation (via @INVOICES) in PDF format upon request.
Tracking Delayed Payments
If a wire has not been received within the standard timeframe (1–5 business days), SWAPD can initiate a trace through its bank for a $10 USD investigation fee. This process typically takes an additional 2–3 business days. Please note that once funds leave SWAPD’s account, the transfer is under the control of the banking system and cannot be cancelled.
Our Commitment
While delays can be frustrating, SWAPD has never lost a wire transfer permanently. All delayed wires are eventually delivered or returned by the banking system. If you encounter an issue or require documentation for your bank, please contact your assigned admin, @Administrators, or email support@swapd.co.
Disclaimer
SWAPD (VEYYO LP) processes all payments in good faith and with commercially reasonable care. However, SWAPD is not liable for delays, freezes, rejections, losses, or additional fees imposed by intermediary banks, recipient banks, regulators, or other third parties once funds have been transmitted into the international banking system.