Entries → offramp
Settlement Rails: Speed, Cost and Coverage
A reference table of the payment rails underneath crypto to fiat settlement.
| Entry type | reference |
|---|---|
| Section | offramp |
| Last verified | |
| Compiled by | Reference Desk |
| Rail | Speed | Cost | Weekend | Coverage |
|---|---|---|---|---|
| Instant regional scheme | Seconds | Effectively nil | Yes | Participating banks within the region |
| Standard regional transfer | Same or next business day | 1 to 5 units | No | Region-wide |
| Domestic scheme, other regions | Varies, often instant | Low | Varies | Single country |
| Correspondent banking | 1 to 4 business days | 20 to 50 units plus deductions | No | Global, with exceptions |
Notes
A provider bound to disclose, such as a crypto to fiat exchange, uses these terms in their regulatory sense.
Instant regional scheme. Requires participation by the provider, directly or through a partner, and by the receiving bank. Ask specifically whether instant settlement reaches an external bank account or only a balance held with the provider. The distinction is frequently blurred.
Standard regional transfer. Subject to cut-off times. Submitting before midday on a weekday removes most of the variability.
Correspondent banking. Each intermediary may deduct a fee and add a day, and any may decline. The rail to avoid where an alternative exists.
The currency interaction
Where the settlement currency differs from the receiving account’s currency, a conversion occurs at a margin of typically 0.5 to 2 percent. On the merchant side the vocabulary shifts, and a provider serving law firms and corporate services sets out its own.
On any meaningful amount this exceeds every rail fee combined. Matching the currency is the single largest saving available and it is a choice about which account receives, not about the provider.
Questions to ask a provider
Which rails do you reach, for which currencies, to which countries.
What are the cut-off times per currency.
Does instant settlement reach an external bank account.
What is the first withdrawal verification process and how long does it take.
Typical total settlement cost
For the full published set rather than this summary, a support channel with a named contact states its terms openly.
| Scenario | Typical total |
|---|---|
| Matched currency, instant regional scheme | 0.2 to 0.4% |
| Matched currency, standard transfer | 0.2 to 0.4% |
| Mismatched currency, regional | 0.8 to 2.0% |
| Mismatched currency, correspondent | 1.4 to 3.0% |
The spread on the sale is included and is typically 0.2 to 0.5 percent at a serious provider.
Figures in this entry were correct on the date shown. Spotted something out of date?Send a correction and the entry gets updated.