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How fast is the transaction, is one block confirmation enough to confirm payment on sendwyres end?

BTC is one confirmation, ETH is 10 confirmations.

What is the daily limit for usage? We were planning on letting Merchants use this service.

Wires: $2,500

ACH: $2,500

Debit card: $50
These limits were created with plain users in mind, if you’re going to have businesses use the API we can reaccess and land somewhere higher.

What are the bank transfer fees?

We eat the flat wire fees and ACH fees at the bank level. Customers pay a 0.20% fee on USD to USD and 0.75% fee on other Fiat to Fiat transfers. For wires though, banks charge an outgoing fee and some charge an incoming fee and some require an intermediary bank to receive/send payment which has their own fees. The user would see these fees incurred at their bank account level as a charge by the bank. We can’t control that.

How much money can an individual or org transfer from crypto to fiat?

There aren’t any limits on total transaction volume. Just the daily limits.

What fiat currencies do you support?
What are tiered daily withdrawal dollar amounts?

If a merchant wires in 1MM USD buys a lot of BTC and gets it out of the system and subsequently files a claim to reverse the wire then Wyre/MonarchPay may be on the hook for it. I think it’s unlikely that this will happen but we can’t ignore the degree of fraud in crypto. We can work this out as we ramp up our business relationship and as your merchants develop a strong track record with us.

Does the Fiat get placed in a Fiat Wallet, and then you transfer to your bank account? (I assume this is the case as you can only transfer $2,500/day currently).

The fiat wallets are us spinning up USD bank accounts for your users in the back end.



How Secure is using MonarchPay? What kind of safeguards are in place for user accounts?

Since you’re doing a whitelabel API integration you will be onboarding users onto MonarchPay (which subsequently creates Wyre sub accounts under your Wyre master account) For user login and safeguards, you will be responsible to make sure the user is in fact operating their account.


As for server to server safeguards, we require API requests to be autehticated by your secret key which is fully encrypted on either end. More details here.


As for the security of our server: Wyre Inc. (“Wyre”) uses bank grade security systems and data encryption to protect you and guard against any unauthorized transactions and access to your personal or financial information.


Your crypto is also stored under industry standard cold storage same as Coinbase, BitGo etc.


What is the api rate request per individual?

Our endpoints typically handle 6 API requests per second. You’ll get an HTTP 429 if you get rate limited.

It’s all quite dependent on the request. For example, if you’re creating an account on our system it’d be slower than when you RFQ 100 ETH to DAI.