Account country

You choose your account's country during the onboarding process. The account country then determines IBAN country codes. For example, consider the sample mutation to create an individual onboarding with the API. The account country chosen on line 5 is France (country: FRA). All IBANs associated with this account have the prefix FR.

Swan offers the following account countries:

1. 🇫🇷 France
2. 🇧🇪 Belgium
3. 🇩🇪 Germany
4. 🇮🇹 Italy
5. 🇳🇱 Netherlands
6. 🇪🇸 Spain

Resident and non-resident accounts

The account country isn't always the country where the account holder resides. Your users can have a Swan account if they live anywhere in the European Union, as Swan allows accounts for both residents and non-residents of supported account countries.

• Resident account: The account holder lives in the account country.
• Non-resident account: The account holder lives outside the account country. These accounts often require reporting as a foreign account to the account holder's local tax authority.

Thorough account holder review

Opening accounts is subject to a thorough verification, regardless of residence or account country.