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Account Funding


To start making payments from a Swan account, the account first needs to have an available balance. Funds can be added to a Swan account using two different methods:
  • Push payments Credit transfers are a good example. These payments come with no risk, as they can't be disputed. A Swan account can currently be funded with this method using the SEPA Credit Transfer or Internal Credit Transfer credit transfers.
  • Pull payments This is when funds were requested, for example by direct debit or with card payments. These payments can be disputed by the debtor. While they are less intrusive, they do come with some risk.
Swan's Account Funding feature allows you to use pull payments to credit a Swan account.

Funding source

Adding a funding source allows you to use pull payments to credit a Swan account. Learn more here.

Payment Mandate

A PaymentDirectDebitMandate is a mandate where the Swan account holder (the debtor) gives Swan (the creditor) their authorization to pull money from a non-Swan account (an IBAN, a card). When the direct debit funding source scheme is SEPA Direct Debit B2B, the mandate document provided by Swan must be transmitted to the bank owning the external IBAN that will be debited. Learn more here.

Account Funding Rolling reserve

A rolling reserve is used to mitigate the risk only in case of Insufficient funds - inherent to pull payment methods - of receiving unpaid items on a previously credited funding request. It is defined with all transaction amounts credited (booked) to a Swan account using a funding source over a pre-defined number of interbank business days. Learn more here.