Is there a minimum redemption amount for USDS?
The minimum redemption amount for USDS is $50.
Are there any fees for redeeming USDS?
Stably charges no fees for USDS redemptions. For more details on fees, please see our fee schedule.
When can I redeem USDS?
USDS redemption requests are available 24/7. Your sent USDS will be burned within 1 hour of being sent to your personalized deposit address, but your USD funds will only be wired by our regulated third-party trustee PrimeTrust, during their operating hours. PrimeTrust's operating hours are from Monday to Friday (more timing details below), excluding holidays observed by the Federal Reserve System.
How long will my USDS redemption take?
After you send USDS to your personalized deposit address, your USDS will be burned within 1 hour. After which, Stably notifies our regulated third-party trustee, PrimeTrust, to wire the corresponding USD funds to your provided bank account. That wire transfer will be subject to Prime Trust's wire transfer timelines. PrimeTrust sends wire transfers between 9am and 5pm ET on business days.
My redemption says complete, but the funds are not there yet, what should I do?
Wires may take time to fully settle. Please wait 24 hours to allow your redemption funds to settle. If you still see that your funds have not been received, please open a ticket with Stably support.
My bank account is not a USD account, what will the FX rate be?
PrimeTrust only initiates transfers in USD. Your transfer will therefore be subject to the FX rate applied by your bank's network and you may incur additional FX processing fees. Please contact your bank for further information about receiving wires in USD.
FX (Forex) is foreign exchange market that is a global decentralized or over-the-counter market for the trading of fiat currencies. This market determines the foreign exchange rate. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.
Are there any fees for sending USDS for redemption?
Stably charges no fees for inbound USDS. You will have to pay Ethereum network transaction (gas) fees on the sender side, if you are sending from your own wallet. If you are sending USDS from an exchange, you will generally have to pay the exchange a withdrawal fee.
My bank requires that I provide a reference and/or additional account information so that it will be routed to my account properly. How do I provide that information?
If you have any special requirements when receiving wires, please open a ticket with our support team. Do not initiate a redemption without first speaking with the Stably support team if you have any custom requirements, as your redemption request will be completed automatically without them.
Are there any limits on sending USDS in for redemption?
Any USDS sent to your personalized deposit address less than 50 USDS will not receive a corresponding wire of USD funds. The USDS will remain in that Ethereum address - if you would like that USDS returned, please open a ticket with Stably support.
All transfers in that go beyond 2 decimal places will be rounded down (e.g. 1.009999 will credit your account with 1.00 USDS). There is no upper limit on USDS redemptions.
How can I see the status of my redemption request?
Once initiated, the redemption should show up in your transaction history with its status. If it is "Pending", we are most likely still waiting to receive USDS in your personalized deposit address or we are waiting for PrimeTrust to settle the wire that contains the corresponding funds from your redemption.
The transaction will be marked "Complete" once PrimeTrust sends the wire with your corresponding funds from your redemption.
What happens if I transfer anything other than USDS into my personalized deposit address?
Please do not transfer anything other than USDS into your personalized deposit address. We will be unable to recover those tokens, and they may be lost forever.