Payments & Transfers on HercleX

HercleX supports deposits and withdrawals in both fiat currencies and digital assets. This article covers how transfers work on the platform, the available payment networks and their settlement times, withdrawal fees and minimums, and how to resolve the most common issues.

Fiat Deposits

Fiat deposit addresses are set up by the Hercle team as part of your account configuration. To view your deposit details, go to Transfers → Deposit → Fiat and select the currency. The deposit details — including company name, IBAN, bank name, BIC/SWIFT, and bank address — will be displayed on screen.

If you need a new fiat deposit address or a deposit address in a currency that is not yet enabled on your account, contact support.

Supported fiat currencies and payment networks

The following fiat currencies and payment rails are available on HercleX:

• EUR: SEPA Credit Transfer (SCT), SEPA Instant

• GBP: Faster Payments (FPS)

• USD: SWIFT, FedWire

Additional currencies (CHF) are planned and will be announced when available.

How deposits are credited

Fiat deposits are credited to your account once the funds are received and cleared by the banking partner. The time this takes depends on the payment network used by the sender. There is no action required on your side beyond sending the funds to the correct deposit details displayed on the platform.

Crypto Deposits

Crypto deposit addresses can be generated directly by the user.

1. Go to Transfers → Deposit → Crypto.

2. Select the cryptocurrency.

3. Generate a deposit address.

The address is permanent — once generated, it stays assigned to your account and can be reused for future deposits. Each address is specific to the asset and network you selected. Always verify you are sending the correct token on the correct network. Cross-chain transfers are not supported and may result in loss of funds.

Lightning Network deposits

For BTC deposits via the Lightning Network:

1. Select BTC in the Crypto section.

2. Click Create Lightning Invoice to generate an invoice.

3. Use the invoice to send the payment from any Lightning-compatible wallet.

Withdrawals

Before initiating any withdrawal, the destination address must be whitelisted and approved. Refer to the Address Whitelisting article for the full process.

Fiat withdrawals

The withdrawal flow depends on which sections are available on your platform.

If your platform has a Withdraw section (under Transfers)

1. Go to Transfers → Withdraw → Fiat.

2. Select the asset (EUR, USD, GBP).

3. Select the bank account from your whitelisted addresses.

4. Enter the amount.

5. Confirm and submit.

If your platform has a Pay-Out section (under Transfers)

1. Go to Transfers → Pay-Out → Fiat.

2. Select the asset.

3. Select the internal address from which the pay-out will be executed.

4. Select the payee and the payee address.

5. Add a description (max 17 characters).

6. Confirm and submit.

Crypto withdrawals

1. Go to Transfers → Withdraw → Crypto (or Pay-Out → Crypto, depending on your platform).

2. Select the asset and network.

3. Select the whitelisted destination address.

4. Enter the amount.

5. Confirm and submit.

Crypto withdrawals are processed by Hercle in near real-time, typically within 30 minutes. This may be slightly longer depending on the specific blockchain’s confirmation time.

Settlement Times by Network

Settlement times depend on the payment network. The following are typical timeframes — actual delivery may vary depending on intermediary banks, compliance checks, and cut-off times.

A note on EUR withdrawals

For euro withdrawals, any transaction below €100,000 is processed via SEPA Instant, with an average reception time of under 30 minutes. Withdrawals exceeding €100,000 are processed via SEPA Credit Transfer, which typically takes up to one business day.

Withdrawal Fees and Minimums

Fiat withdrawal fees

Volume discount: fiat withdrawal fees are waived entirely if you process more than $10,000,000 equivalent in monthly volume (rolling month calculation) on the HercleX platform or OTC desk.

Crypto withdrawal fees

Crypto withdrawal fees vary by asset and network. Below are the standard fees for the most commonly used assets:

For a complete and up-to-date list of all crypto withdrawal fees, including less commonly traded assets, contact your account manager or the support team.

Tracking a Payment

How to request a tracking number

If you need to trace a fiat payment — for example, to confirm delivery to the beneficiary or to investigate a delay — you can request a tracking reference from the support team. Depending on the payment network, this may be:

• IMAD (Input Message Accountability Data) — for FedWire payments

• UETR (Unique End-to-End Transaction Reference) — for SWIFT payments

• MT103 — the SWIFT message confirming a wire transfer has been sent

To request a tracking number, contact support with the transaction ID or the payment details (amount, date, beneficiary). The team will provide the relevant reference from the banking partner.

Payment Recalls

If you sent a payment to the wrong account or need to reverse a completed transfer, you can request a payment recall through the support team.

How it works

1. Contact support as soon as possible with the transaction details — the sooner a recall is initiated, the higher the chance of recovery.

2. Hercle will submit the recall request to the banking partner.

3. The beneficiary bank is contacted and asked to return the funds. This is a request, not a guarantee — the beneficiary bank may decline if the funds have already been withdrawn by the recipient.

4. Recall processing times vary by network and can take several business days to several weeks.

Costs

Payment recalls may incur fees from intermediary and beneficiary banks. These fees vary and will be communicated to you when the recall is initiated. Hercle does not charge a separate fee for submitting the recall request itself.

Transaction History and Reporting

You can view and download your full transaction history from the History section of the platform. The following categories are available:

• Trades — all executed spot trades

• OTC Orders — over-the-counter order history

• Settlements — settlement records

• Withdrawals — outgoing transfer history

• Deposits — incoming transfer history

Each category can be exported as a CSV file for your records and regulatory reporting needs. If you need a formatted report for regulatory submission — for example, for MiCA travel rule purposes or AML reporting — contact your account manager.

Troubleshooting

My payment is stuck in “Processing” or “Confirming” status.

Fiat payments may remain in processing while awaiting confirmation from the banking partner. Settlement times depend on the network — FPS and SEPA Instant are near-instant, while SWIFT can take 1–5 business days. If a payment has been in processing for longer than the expected settlement time for its network, contact support with the transaction ID.

My payment is in “Compliance Review”.

In some cases, a payment may be held for compliance review before being processed. If this happens, you will receive a communication from Hercle outlining the information required to release the payment. Provide the requested details as promptly as possible to minimise any delay.

My payment was returned or rejected.

Payments can be returned for several reasons: incorrect beneficiary details (name mismatch, wrong IBAN, invalid ABA/routing number), the beneficiary bank rejecting the transfer, or compliance holds at an intermediary bank. The return reason is typically provided in the transaction details. Common return codes include “No Account / Unable to Locate Account” and “BNF Details Insufficient” (MS01). Correct the details and resubmit.

The payment shows as “Completed” on my side but the client says funds haven’t arrived.

This means the payment has left Hercle’s banking partner but has not yet been credited by the beneficiary bank. Request a tracking number (UETR, IMAD, or MT103) from support and share it with the beneficiary so they can trace the payment on their end.

My USD payment was processed as FedWire but I needed SWIFT (or vice versa).

The payment network is selected based on the routing details provided. If you need a specific network, ensure the payee address is configured with the correct routing information — ABA for FedWire, SWIFT/BIC for international wires. If you are unsure which network will be used, contact support before submitting the payment.

My GBP Faster Payment has been in processing for over 1 hour.

FPS payments are typically near-instant. If a payment has been processing for more than an hour, it may be held for compliance review or there may be an issue with the beneficiary details. Contact support with the transaction ID.

Can I get a statement of account balances at a specific date?

Transaction history with balances can be exported via the History section. If you need a formal statement at a specific date for accounting or year-end purposes, contact your account manager.

If your issue is not covered here, submit a request through the Hercle support centre and the team will respond within 1 business day.