Frequently asked questions
FAQs for ShuttleSwap service
Q. What tokens am I able to withdraw to fiat from ShuttleOne?
A. You are able to withdraw BTC, ETH, USDT, USDC, and over any tokens from 26+ protocols that we support.
ShuttleSwap is the fiat-ramp part of the Shuttle Wallet - a decentralized wallet that you can store any token on 26 protocols. To utilize ShuttleSwap, you need to deposit tokens to ShuttleWallet from other wallets or from bank accounts before executing transactions.
Q. What is the Shuttleone fee for any withdrawal or purchase of the digital assets?
A. ShuttleOne takes a fee between 0.5% to 1.5% on the USD value, depending on the size of your transaction. If the withdrawal to fiat is a currency not in USD, your local bank may charge additional fees or apply a foreign exchange fee.
Q. Is there any conversion spread or slippage from crypto to fiat?
A. Shuttleone only takes a fee of 0.5% to 1.5%. The conversion of crypto to USD stablecoin conversion rate is dependent on our liquidity partner or DEX.
Q. How long does it takes on sending funds to the local bank accounts or crypto purchase?
A. Our fastest transaction has been less then 10minutes, for larger withdrawals our SLA is within 24hrs.
Q. ShuttleOne has sent confirmation that the funds had been sent within 2hours of the request, however I have not received the funds yet?
A. Delays for final clearing are most commonly experienced at the receiving bank side. As part of ShuttleOne’s confirmation process you will receive a bank transfer reference number. Clients should take this reference number and contact the receiving bank to get the latest status.
Q. Is ShuttleOne licensed to manage digital assets and for money transfer activities?
A. ShuttleOne is currently regulated in Singapore, and is under the Payment Service Act’s exemption list.
Q. Which countries and territories am I able to withdraw fiat to?
A. You are able to withdraw to over 80+ countries and jurisdictions. Our fastest transaction has been less then 10minutes, for larger withdrawals our SLA is within 24hrs.
ShuttleSwap applicable countries: Andorra, Angola, Anguilla, Argentina, Australia, Austria, Azerbaijan, Belgium, Benin, Bermuda, Brazil, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Cayman Islands (the), Chad, Chile, Croatia, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Guam, Guatemala, Guernsey, Holy See (the), Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Isle of Man, Israel, Italy, Japan, Jersey, Jordan, Kenya, Korea (the Republic of), Latvia, Liechtenstein, Lithuania, Luxembourg, Madagascar, Malawi, Malaysia, Malta, Mexico, Monaco, Mozambique, Netherlands (the), New Zealand, Niger (the), Norway, Peru, Philippines (the), Poland, Portugal, Puerto Rico, Romania, San Marino, Senegal, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan, Tanzania, United Republic of, Thailand, Turkey, United Arab Emirates (the), United Kingdom of Great Britain and Northern Ireland (the), United States Minor Outlying Islands (the), United States of America (the), Uzbekistan, Viet Nam, Virgin Islands (British), Virgin Islands (U.S.)
Q. Which banks can we complete the fiat withdrawal to ShuttleOne network allows you to withdraw to over 1,600+ banks around the world?
A. Upon your KYC and bank account update, we will advise you if the funds can be withdrawn to that account. If not, we will provide you a list of alternative banks in that country/jurisdiction.
Q. Do we need to KYC to utilize ShuttleSwap?
A. Yes, either yourself or the corporate entity will be required to KYC. The KYC process will be completed within 72hours of full document submission
Q. Can I withdraw to bank accounts not under my name?
A. Yes, with ShuttleOne you can effect payment to a 3rd party bank account.
Q. Can I withdraw to my bank account directly from Metamask or other wallets using ShuttleSwap?
A. ShuttleSwap is part of the Shuttle Wallet - a decentralized wallet that you can store any token on 26 protocols. To utilize ShuttleSwap, you need to deposit tokens to ShuttleWallet from other wallets before executing transactions.
Q. Is ShuttleOne/ShuttleSwap an OTC desk?
A. No, ShuttleOne is a Web 3 infrastructure company that focus on connecting the crypto values to the real world infrastructure. We’ve built an electronic network of counterparties like the SWIFT payments infrastructure. You do not need to rely on trusting a third party intermediaries when it comes to transferring funds between crypto and banks.
Q. Where can I find customer support?
A. If you are a retail customer, head over to our Telegram group for any enquiries. If you are an institutional customer, contact your Account Manager for support.
Q. How to start using ShuttleSwap?
A. Open ShuttleSwap account with 3 simple steps:
Click open account
Complete KYC
Swap with fiat and crypto.
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