Managing Funds – Club Swan

Managing Funds

Deposit

  • How can I load my Club Swan wallet?
    • Crypto Liquidation

      To convert your Cryptocurrency to Fiat currency you should:

      • Log-in to your Club Swan account through the application or the website. Choose which currency wallet to load (EUR, GBP or USD), then click Transfer Money.
      • Next, click the Crypto and choose the type of Crypto currency (BTC / BCH / ETH) you wish to liquidate.
      • Enter the amount that you wish to load and the invoice will be presented to you before confirming the transaction. Read and Confirm the Terms & Conditions' box.
      • Copy the Bit Address that will be shown on your screen and please be noted that you will only have 15 minutes to send your deposit.
      • After sending your deposit, the posting will roughly take within 45 minutes to an hour.
    • Bank deposit

      To deposit funds from your bank account to one of your currency wallets you should:

      • Log-in to your Club Swan account through the application or the website.
      • Choose which currency wallet to load (EUR, GBP or USD), then click Transfer Money and click Bank Transfer.
      • Our bank details will be provided to you, please make sure to take note all the details needed when transferring funds from your bank account. Make sure to include your wallet number in the reference field so it will be easy for us locating your deposit.
  • How long does it take to see my funds on my currency wallet?
    • Crypto Liquidation

      We require 3 confirmation transaction on our system and it may take up to 45 minutes to 1 hour for the transaction to be confirmed. Once the confirmation transaction is completed, you will see the credit in your currency wallet automatically.

    • Bank deposit

      Bank transfer deposits usually take 5 to 7 business days to arrive in our bank account (Not including weekends and bank holidays). Once we received and identify your account, the funds will be credited on your currency wallet right away.

    Reminder: Make sure to include your wallet number in the reference field so it will be easy for us locating your deposit and to avoid delay crediting your account.

  • Crypto deposit status

    When you send your deposit request from our system they will be labelled to inform you the transaction status.

    Pending - You are still within 15 minutes to send your deposit from a 3rd party provider. Make sure that you copy the Bit address correctly to avoid loss of your digital assets.

    Complete - We received your deposit and the confirmation transaction in our system. Your currency account will be credited automatically.

    Expired - The 15 minute time lapse and we have not received your Crypto deposit in our system.

  • Why I haven't received my Crypto deposit?

    ** Please be reminded that the Bit Address belongs to the Club Swan deposit platform and the Bit Address you copied is correct. If you have the wrong Bit address your funds will not arrive and we cannot retrieve or recover them. **

    • My transaction is confirmed, but my funds still has not arrived.

      If you have received enough transaction confirmations for your deposit, please try checking your account again within 1 to 2 hours, but normally it takes 45 minutes to an hour for the posting of your deposit. In case that you have not received your deposit after 2 hours, please contact our Support team and provide the following info:

      • The Bit address
      • Currency wallet
      • Amount of Crypto

    • Sent my funds to the wrong Bit Address.

      If you have the wrong Bit address your funds will not arrive and unfortunately, we cannot retrieve or recover them.

    • I sent the wrong Crypto coin.

      Example: Deposit should be in BTC, but I sent BCH. Club Swan does not have the means of recovering or retrieving your digital assets and unfortunately, your funds will not arrive in your currency wallet.

  • What to keep in mind when sending coins for deposit?

    When you send Crypto to a Bit address the transaction is published to a public blockchain. All transactions to Bit addresses are irreversible, so please make sure that you double check Bit address before sending them.

  • Can I deposit cash, credit card or cheque?

    We don't accept cash, credit card or cheque deposit. You can load your wallet by liquidating your available Crypto (BTC, BCH or ETH) or send funds directly from your bank account.

  • What is the minimum and maximum amount I can deposit on my currency wallet?
    Silver Gold Emerald Dynasty
    Maximum Currency Account Deposit Limit €5,000 €50,000 €2,000,000 Unlimited

Transfer to Wallet

  • Member to Member transfer

    M2M or Member to Member transfer is allowing members to store their funds in their electronic wallet. Once your Crypto has been liquidated to Fiat currency or sent funds from your bank account, then you can start transferring funds from one your currency wallets or even to another member's wallet and this process can be initiated via web portal or mobile application anytime.

  • Wallet to Wallet transfer

    W2W or Wallet to Wallet transfer means that you can transfer funds to another Club Swan member.

  • What details do I need to transfer money to another member?

    To transfer funds from your wallet to another person’s wallet. You just need to have the member’s wallet which can be found in the currency card on the Club Swan application and enter their name.

  • How to transfer funds to another member’s wallet?

    To transfer funds from another member’s wallet, you need to:

    • Log in to the Club Swan mobile application or website and choose a currency wallet (EUR / USD / GBP) that you wish to use.
    • Click Transfer Money and on Transfer Type select Transfer to another member.
    • Enter the name of the receiver and the wallet number, then click Next.
    • Enter the amount you wish to send and all applicable fees will be presented to you before confirming the transaction.
    • Enter the 6 digit authentication code that you will receive on your registered email address and click the Send Money.
    • A prompt will tell you that the Transfer successfully completed.
  • Transfer to one of my currency wallets?
    • Log in to your account and choose a currency wallet (EUR / USD / GBP) that you wish to use.
    • Click Transfer Money and on Transfer Type select Transfer to another currency account.
    • Select Beneficiary or the receiving currency wallet.
    • Enter the amount you wish to send and all applicable fees will be presented to you before confirming the transaction.
    • Enter the 6 digit authentication code that you will receive on your registered email address and click the Send Money.
    • A prompt will tell you that the Transfer successfully completed.
  • Help! I sent my money to the wrong account.

Withdrawal to Bank

  • What is withdrawal?

    Withdrawal is transferring your funds from one of your currency wallets to your personal bank account.

  • How can I add a Beneficiary account?

    All Beneficiary accounts added will be saved automatically. You can't delete or modify their account information.

    • Log in to your Club Swan account and choose any of your currency wallet that you wish to use for this transaction, then click Transfer Money.
    • On Transfer Type, please select Withdraw to a personal account, then click the (+) Add personal account.
    • Select the Destination bank country, Currency payment and then fill out the required fields such as Destination bank name, Bank address and Bank information.

      Note: Your Account Name is pre populated when adding a personal beneficiary account.

    • Click Next to make sure that the account is saved in your account.

    Reminder: You will be routed to Make a Transfer page and in case you are not planning to transfer your funds, then either click one of your currency wallets or the dashboard to go back to the homepage.

  • What is "Beneficiary Reference" field?

    The Beneficiary Reference field is used to identify who is sending the payment. You can enter personal notes or remarks such as "Birthday gift or Happy holidays" so you can easily find your transaction.

  • What currency are you supporting for wire outs?

    We support EUR, USD, JPY and GBP currency when sending funds to another bank account.

  • How do I send funds from my wallet to my bank account?

    To cash out or withdraw to your personal bank account, you need to:

    • Log in to your Club Swan account. Choose any of your currency wallet to transfer your available credits.
    • Click Transfer Money and select Withdraw to a Personal Account as a transfer type.
    • In case that you haven't saved the Beneficiary Account, please click the (+) Add Personal Account, then select the destination bank country, currency payment and then fill out the required fields such as Destination bank name, bank address and bank information.
    • Enter the amount you wish to withdraw. An invoice will be presented to you with all applicable fees. Review then Click Confirm.
    • Enter the 6 digit authentication code that you will receive on your registered email address, then click Send Money.
    • And a prompt will tell you that the transfer was successfully completed.
  • What is the minimum / maximum amount that I can withdraw?

    The minimum amount that you can withdraw is 10.00 across all currency wallets while the maximum amount you can withdraw will depend on your available balance on your currency wallet. You must have enough funds in any account from which you wish to send funds to.

  • Processing time for Withdrawal transaction?

    When transferring funds to your local bank account the processing time varies with the service that you select. You can either choose our Basic Transfer service or Expedite service.

    Our Basic transfer service can take up to 3 business days for your transfer to be dispatched in our system and if you choose to Expedite your transaction, it can take up to 1 business day as long as complete instructions and documents are received by 13:00 GMT.

  • How long should I wait to receive the funds to my account?

    Once your funds have been dispatched, the time taken for you to receive will depend on the country that your bank is located. If the transfer is made internationally it may take between 5 to 7 business days. While transfers to a UK bank account typically take 1 or 2 business days not including weekends and holidays.

  • Can I transfer my funds to an account that is not under my name?

    No, you can't. The Beneficiary bank account must be owned by you and under your name.

  • Why do I need to prove my account ownership?

    Bank account verification and Identity verification are required by most financial institution to establish bank accounts and other financial accounts in many jurisdictions, this is to avoid Identity Theft and Fraud. We wanted to ensure that you are an authorized account holder of the bank information you provided when transferring your funds from your wallet.

  • Can I cancel my withdrawal transaction?

    Please contact our Support team as soon as possible and we will try to assist you, please send the following:

    • Date of transaction
    • Currency account and amount
    • Reason of canceling the Withdrawal

    In the event that your Withdrawal transaction has been processed, then it cannot be canceled. All transfers are final.

  • Where can I see my transactions?

    You may find your transactions under ‘’Transactions’’ in your Club Swan account.

  • Why did my withdrawal amount change?

    Some intermediary or correspondent banks charge fees to process your wire transfer. This might be the reason why the transferred amount receive on your Club Swan account is less than the amount you sent.

    The fee charged on our end is always stated in the Transfer page before you confirm your wire out.

  • Help! I have not received my funds to my bank account.
    • Passed the estimated timeframe business days.

      If you have not received the funds within the specified time, please contact our Support team via live chat service for further assistance.

    • Sent to the wrong account information.

      If you transferred your funds to the wrong account and the transfer was successful, unfortunately we can no longer reverse or cancel the transaction due to the nature of it being irreversible.

      Just a reminder, make sure that you enter the correct bank information to avoid any delays and problems.

Payment Service

  • What is payment service?

    Club Swan offers payment service that allows you to pay an individual or a business via electronic wallet.

  • How do I make a payment to a business account?
    • Log in to your Club Swan account.
    • Choose any of your currency wallet, then click Transfer Money and select Payment to Business as a transfer type.
    • In case that you haven't saved the Beneficiary Account, please click the (+) Payment to new business, then select the Destination bank country and Currency payment and then fill out the required fields such as Business name, Registration number, Destination bank name, Bank address and Bank information.
    • Enter the amount you wish to transfer. An invoice will be presented to you with all applicable fees. Review then Click Confirm.
    • Enter the 6 digit authentication code that you will receive on your registered email address, then click Send Money.
    • A prompt will tell you that the Transfer successfully completed.
  • How do I transfer to someone’s bank account?

    To transfer funds to another person’s bank account. You need to:

    • Log in to your Club Swan account.
    • Choose any of your currency wallet, then click Transfer Money and select Payment an Individual as a transfer type.
    • In case that you haven't saved the Beneficiary Account, please click the (+) Payment someone new, then select the Destination bank country and Currency payment and then fill out the required fields such as Name of the receiver, Date of birth, Destination bank name, Bank address and Bank information.
    • Enter the amount you wish to transfer. An invoice will be presented to you with all applicable fees. Review then Click Confirm.
    • Enter the 6 digit authentication code that you will receive on your registered email address, then click Send Money.
    • A prompt will tell you that the Transfer successfully completed.
  • Can I pay anyone using this service?

    Yes, as long as you provide us the account numbers and other identifying information of your designated Beneficiary or other information we need so that your payments can be properly credited and the receiver of the payments can be identified.

  • Can I pay my personal goods and services?

    Yes, once you liquidate your Crypto to Fiat currency you can use your currency wallets to send your travel and shopping request.

  • Processing time for Payment transaction?

    When transferring funds to someone or to a business bank account the processing time varies with the service that you select. You can either choose our Basic Transfer service or Expedite service.

    Our Basic transfer service can take up to 3 business days for your transfer to be dispatched in our system and if you choose to Expedite your transaction, it can take up to 1 business day as long as complete instructions and documents are received by 13:00 GMT.

  • How long does it take for a payment to reach the receiver's account?

    Once your payment has been dispatched, the time taken to the receiver's bank will depend on the country that his / her bank is located. If the transfer is made internationally it may take between 5 to 7 business days to reach the receiver's account. While transfers to a UK bank account typically take 1 or 2 business days not including weekends and holidays.

Fee Structure on Club Swan

  • Are there any fees for deposit?

    Most digital assets have no deposit fees, but some do carry a deposit fee and / or a deposit address setup fee. Club Swan will not charge a fee when you deposit Crypto to one of your currency wallets.

  • Are there any bank deposit fees?

    For wire transfer there is a deposit fee on our end and that will depend on your current membership plan, please see table below:

    Silver Gold Emerald Dynasty
    Inbound Currency Deposit Fee 3.0% 2.0% 1.0% 0.50%
  • What are the fees for wire transfers?

    For wire transfer transaction it vary based on the membership level.

    Transfer Type Silver Gold Emerald Dynasty
    Inbound Currency Deposit Fee 3.0% 2.0% 1.0% 0.50%
    Wallet to Wallet Transfer Fee Real-time foreign exchange rate quote provided at the time of transaction.
    Transfer Currency to Another Club Swan Member (Same Currency) 0.20% Free of Charge Free of Charge Free of Charge
    Transfer Currency to Another Club Swan Member (Different currency) Real-time foreign exchange rate quote provided at the time of transaction.
    Wallet to a Bank account (Withdrawal and Payment service)
    Outbound Bank Transfer Fee*
    Minimum of €20.00 or higher of:
    (whichever is greater)

    Payment dispatched within three (3) business days from complete instructions received by 13:00 GMT.

    3.0% 2.0% 1.0% 0.50%
    Expedite Fee
    (On top of the Basic Transfer fee)

    Wire dispatched the same business day for complete instructions received before 13:00 GMT; or next business day.

    2% 1.50% 0.50% Free of charge
  • How can I expedite transfers?

    To Expedite transfers, you have to tick the box Include Expedite Fee when entering the amount you want to transfer on Transfer page.

    Please be reminded that all information and needed documents should be handed over before 13:00 GMT to have your transaction process within the day.

  • Are there any fees for foreign exchange?

    Yes, Forex fee will apply when sending funds to a different currency account. Rates will be based on our service provider costs and will be displayed to you when sending a transfer.

  • Other fees
    Silver Gold Emerald Dynasty
    Account Investigation fee €55.00 €55.00 €55.00 €55.00
    Administrative fee €55.00 €55.00 €55.00 €55.00
    14 day cancellation fee €55.00 €55.00 €55.00 €55.00
    Inactivity Fee†† .05%, minimum €10 .05%, minimum €10 .05%, minimum €10 .05%, minimum €10
    †† Charged to the EUR Account. Partial fee may be assessed.

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