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Frequently asked questions
What information can I get to track a payment with my beneficiary bank?
The information required to track a payment depends on the payment method used:
- Domestic wires: You will need the IMAD (Input Message Accountability Data) or OMAD (Output Message Accountability Data) reference. These unique identifiers are assigned to wire transfers within the U.S. financial system and help banks locate transactions in their system.
- SWIFT payments: You will need the MT103 document, which serves as proof of payment in international wire transfers. This message contains details such as sender and beneficiary information, transaction reference, and timestamps.
What does the status of my payment mean?
In Compliance Review: Your payment is under compliance review.
Processing Settlement: Your payment is being prepared for settlement.
Completed: Your payment has been successfully sent.
Rejected: Your payment could not be processed.
If a payment remains in the same status for an extended period, please contact the Payment Ops team for assistance.
Why doesn’t the USDT amount match the amount I sent or expected to receive?
When converting between USD and USDT - whether sending or receiving - clients sometimes expect the amount to reflect only the agreed fee (e.g., 10 bps). For example, sending $10,000 USD with a 10 bps fee might suggest you’ll receive exactly 9,990 USDT.
However, USDT is not always worth exactly 1.00 USD. Like any asset, it has a market price that can fluctuate slightly depending on liquidity and trading conditions.
This means that the final amount of USDT delivered or received reflects both:
- The agreed fee
- And the current market price of USDT at the time of the transaction
What this means for you:
Even if your fee is fixed, the market price of USDT can lead to an amount that is slightly above or below your expectations.
To avoid surprises, we recommend checking the live market rate of USDT before confirming an on/off ramp transaction.
How long does a transaction take?
- Domestic USD: Up to 2 hours.
International Wire Transfer: 2–8 hours, depending on the beneficiary’s timezone. If submitted outside the beneficiary bank’s operating hours, it will settle on the next business day (T+1).