> For the complete documentation index, see [llms.txt](https://swapin.gitbook.io/swapin-help/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://swapin.gitbook.io/swapin-help/swapin-for-individuals/swapinpay-crypto-to-fiat-transfers-to-any-bank-account.md).
# SwapinPay: Crypto-To-Fiat Transfers To Any Bank Account
SwapinPay allows you to utilize cryptocurrency for fiat invoice payments and bank transfers. While its main function is to facilitate payments to others, you also have the option to transfer funds to your own bank account using SwapinPay. This article will offer a step-by-step guide on how to initiate a new SwapinPay payment.
## How does SwapinPay work?
The transaction process can be summarized as follows:
1. Initiate a new transaction within the Swapin App or online.
2. Send cryptocurrency to a provided wallet address.
3. Swapin converts the cryptocurrency to the desired fiat currency.
4. Swapin transfers the fiat currency to the provided IBAN.
5. Funds are successfully deposited into the bank account.
As a non-custodial solution, Swapin ensures the safety of your funds. For each payment, you send the required cryptocurrency to Swapin, and we process the transaction within minutes. Unlike custodial solutions, there's no need for you to deposit funds. Each of your transactions is treated individually, and you only transfer funds once you initiate a specific transaction.
## SwapinPay Transaction Instructions
Let's dive into the step-by-step process of initiating a SwapinPay transaction.
### Step 1: Sign in and navigate to SwapinPay
1. Log in to your Swapin account.
2. Scroll to the SwapinPay section and click on the "Pay with Crypto" button.
### Step 2: Enter Bank Details
Fill in the necessary transaction information:
1. Choose the fiat currency for the recipient (EUR or GBP).
2. Enter the amount of fiat currency you intend to send.
3. Select the cryptocurrency you wish to use for payment.
4. Indicate whether the payment is for yourself or someone else.
5. Choose the beneficiary type (individual or business).
6. Enter the beneficiary's name.
7. Provide the beneficiary's SEPA bank account IBAN.
8. Enter the beneficiary's address.
9. Include a payment description/reference.
Click the "Continue" button.
### Step 3: Transfer Crypto
Transfer the cryptocurrency from your crypto wallet to the provided wallet address. You have three options:
* Manually copy the wallet address and initiate the transaction from your wallet.
* Scan the QR code with your wallet app to initiate the transaction.
* Click "Connect Wallet" to link your wallet to the Swapin App, triggering an automatic transaction confirmation request.
A timer is displayed, indicating a 30-minute lock on exchange rates for your SwapinPay transaction. This ensures the recipient receives the exact invoiced/planned amount. If the crypto is not sent within 30 minutes, the screen updates with the new amount of crypto based on the current exchange rate. Once the cryptocurrency is sent, click the "I sent the crypto" button.
### Step 4: Waiting for crypto
At this step, we are waiting to receive your crypto, which typically takes a couple of minutes. This screen will be updated automatically as soon as crypto hits a provided Swapin wallet address.
### Step 5: Crypto Received
When the crypto arrives at the intermediary, you will see a message saying "Crypto received."
After this step, the crypto-to-fiat conversion and fiat transfer to a bank process will take place. In most cases, if your recipient’s IBAN supports instant SEPA payments, this takes less than 5 minutes. Read more about instant and ordinary SEPA payments [here](https://intercom-help.eu/swapin/en/articles/161746-sepa-bank-accounts).
### Step 6: Transaction Completed
Once the payment has been received in the recipient's bank, you will see a message saying "Transaction completed," and the process is done. Fast and easy!
## Predefined Payments
Predefined payments are a pre-filled payment template saved for later use, designed to save time on repeatedly filling out the necessary information for a recurring beneficiary.
### Step 1: Navigate to SwapinPay from the dashboard and click on "Pay with crypto"
### Step 2: Click on "Predefined" to create or view all the predefined payment beneficiaries.
### Step 3: Click on "Create new" to add new predefined beneficiaries.
### Step 4: Fill in the predefined payment details
Including the payment name, the amount in fiat, and the cryptocurrency you want to use (BTC, ETH, USDC, LTC, and more). Then mark whether the payment is to yourself or someone else - and add the recipient's name, IBAN number address, and payment reference.
### Step 5: Click on "Save" and it's done!
Now going forward you can just choose your predefined payment from the drop-down menu when using SwapinPay.
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