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Account

Definition

Whatever you call it - wallet, money account, payment account, or bank account - at Swan, the notion of an account is fundamental. All types of payments always pass through an account.
The owner of the funds stocked in the account is the account holder. This can either be you, or your customer.
An account has different type of balances (Learn more) and a list of transactions (Learn more)
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Manage Accounts

The creation of an account occurs at the end of the onboarding process, when the account holder binds with Swan. Learn More.
If you are using the API, you can also do the following:
  • Systematically refuse SEPA Direct Debit requests by calling the denySDD mutation
  • No longer systematically refuse SEPA Direct Debit requests by calling the allowSDD mutation
  • Change the official document language for invoices and account statements by calling updateAccount mutation
  • Change the name of the account displayed in the web banking and the account statement by calling updateAccount mutation
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Account statements

Every month, Swan will generate an account statement for all accounts created. The statement include all booked operations of the previous month. This account statement is available in account.statements. As a partner, you can also get the raw data of the statements in order to create your own document.
Using the generateAccountStatement mutation, you can generate an account statement for a specific timeframe. This account statement can either be a PDF or a CSV file, depending on the statementType chosen.
Any account statement with more than 10 000 transactions will be a CSV, even if you request a PDF.

End the business relationship

The business relationship between you and an account holder can end in the following ways:
  • You wish to end the partnership with the account holder without them having to close the account
  • The account holder wishes to end the partnership with you, without having to close the account
  • The account holder wishes to close their account
When you are the one initiating the end of the partnership, you must give two-months notice, as imposed by our regulator. To end the partnership with a customer for a specific account, please reach out to us at [email protected].
If it's the account holder that chooses to end the partnership with you, they can do so by contacting Swan directly, as is stipulated in the conditions of partnership.
Lastly, if a legal representative of the account holder requests to close the account, you must call the closeAccount mutation with their user token. Swan will then ask for the user's consent, and a consent resource will be returned containing the consentUrl which will let you redirect the user to launch Swan's strong authentication process. Learn More.
Once the consent is accepted, the account's status will be changed to Closing until the booked balance is at zero, the last SDD was more than 30 days ago and the last SCT more than 5 working days ago. As soon as an account has Closing status:
  • All cards are canceled.
  • Incoming SCT are automatically returned.
  • All standing orders are canceled.
  • All SDD mandates are canceled.
  • No new member can be added to the account.
Once all closing operations have been finalized by Swan's team, the status is changed to Closed. After closing, account access and account statements remain available for one year either through our #nocode interfaces or via the API.