A payment is composed of multiple transactions that, together, move funds from one account to another. A payment can be initiated by a Swan user, a merchant, you, or Swan.
Swan accounts were designed to never go below zero. Payments will be refused if an account's available balance is not sufficient to cover the total payment amount.

Payment methods

Swan supports the following payment methods:
  • credit transfer
  • direct debit
  • instant credit transfer
  • payment cards


A single payment is made up of multiple transactions.
For example, two transactions occur if a user initiates a SEPA Credit Transfer of 150€ to another IBAN, but the IBAN doesn't exist.
  1. 1.
    1st transaction: SEPA Credit Transfer is sent on the SEPA network.
  2. 2.
    2nd transaction: Financial institution returns the money because the IBAN doesn't exist.
You can also run the transactions query to retrieve information about a group of transactions, including the full IBAN and BIC of the creditor and debtor.