Last Updated: Aug 10, 2018
If not the best, you’ll receive one of the best exchange rates that you can find on the market. Our peer-to-peer mechanism helps us run at a very low cost. This means we don’t have to charge clients the buy-sell spread, which is what other exchange platforms typically do to make money.
Occasionally, considering the match efficiency, the rate may not be the same as the market rate. However, the only purpose of this situation is to help you find a match.
Please kindly check the spam folder in your email. If you don’t receive the email after 24 hours, feel free to contact our customer support, or try signing up with another email account, if it is convenient for you.
All users are required to pass ID verification before sending a request. This is to make sure that everyone gets matched with a verified user, as to minimize the default risk for all parties involved.
Please submit a picture of your ID along with one selfie of you holding the ID under the “account” tab. We will inform you via email and text once your ID verification is approved.
Because we value your privacy, all of your personal information is encrypted and securely saved with us. We do not disclose your information to any other parties.
Thanks to the prevailing e-wallets we have now, you can easily send and receive the currency you desire via the e-wallets listed below.
For USD, please provide information of at least one of these e-wallets: PayPal, or Zelle (supported by almost all the banks, including Chase QuickPay).
For CNY, please provide information of at least one of these e-wallets: Alipay or WeChat Pay.
Although you will be able to use our platform by uploading information of one e-wallet for each currency, we strongly recommend providing as many as possible. It will help you to more easily and quickly obtain a match. For USD, Zelle is the more popular one on our platform.
Unfortunately, there is a daily limit of 4 transactions and monthly limit of $12,000 for every user.
Again, unfortunately, no. Our platform is designed for meeting small currency exchange demands. All users can only initiate one request at a time. We may increase the one-time transfer limit in the near future or accept ad-hoc requests, but our aim is to fulfil household currency needs only.
You select the type of the currency and the amount you want. For a first-time user, you will need to provide the e-wallet information for both USD and CNY. After that, just relax! We will quickly find you a match, and inform you via email and text.
It usually takes less than 24 hours to get a match.
You are able to match faster if you provide more e-wallet options. For example, if you provide both Alipay and Wechat Pay information for Chinese Yuan, it will be easier to get a match than opting for only one of them.
A small trick for our frequent users. If you click “I have received the payment” button soon after your request is completed, it helps boost your “Match” priority. On the other hand, if you haven’t clicked the “I have received the payment” button in time, it may affect your “Match” priority for your next request.
We understand your concern. That is why we make sure every user here is a verified individual. On top of that, we provide a full amount guarantee, in case there is a default.
Attention: We only provide a guarantee for the transaction amount in which you select on our platform. Any extra amount you exchange with the other party exposes yourself to a high default risk.
Please click the “Notify Swapsy I have sent the money” button on the platform after sending over the money to keep track with us.
After receiving the money, please click the “I have received the payment” button so that we know the request was successfully completed. You can initiate a new request after closing the current one.