Audience:
Fees
Fees on Swan accounts are booked as dedicated transaction types: fees Swan charges, and custom fees you charge your account holders.
Swan fees
Swan charges different banking and merchant fees. When the Swan API detects transactions with associated banking fees, the fees are scheduled automatically, except fees related to payment incidents.
There are two dedicated transaction types for fees:
FeesOut indicates a fee debited from a Swan account, while FeesIn indicates a fee credited to a Swan account.
On a fee's expected execution date, Swan checks the account's Available balance to see if it's sufficient to cover the fee.
Available balance | Events |
|---|---|
| Sufficient to cover fee | Swan executes the fee transaction. The status changes to Booked. |
| Not sufficient to cover fee | Swan doesn't execute the fee transaction. Instead, the status changes to Pending.Each time funds arrive in the account, Swan checks if the Available balance is sufficient to cover the fee. As soon as the Available balance is sufficient, Swan executes the fee transaction. |
Fees related to payment incidents (for example, direct debit rejections due to an insufficient balance), are deducted 14 days after being communicated.
The FeesOut transaction appears instantly on the transaction history with the status Upcoming.
The transaction is booked automatically 14 days later.
Standard fees
Fee amounts are not listed because they can vary by contract. Check your Terms and Conditions for your precise fees.
| Fee | Billed with Value Added Tax (VAT) | Booked |
|---|---|---|
| Cash withdrawals from cash machines (ATM) in euros | ✓ | Immediately |
| Cash withdrawals from cash machines (ATM) not in euros | ✓ | Immediately |
| Payment for goods and services in stores or remotely not denominated and carried out in euros | ✓ | Immediately |
| Rejection of an outgoing direct debit due to an insufficient balance | ✗ | 14 days after disclosure of the charges on the account |
| Improper use of the account Attempted or actual actions that are against the law or contrary to this account agreement | ✓ | Immediately |
| Handling legal or administrative garnishments, third party debt orders | ✗ | 14 days after disclosure of the charges on the account |
| Preparation of a circularization letter for a legal entity holder | ✓ | Immediately |
| Preparation of a letter certifying the existence of an account with Swan | ✓ | Immediately |
| Handling fees for management of an unauthorized overdraft | ✗ | 14 days after disclosure of the charges on the account |
| Adding funds to the account by bank card | ✓ | Immediately |
| Call to Customer Service | ✗ | — |
| SEPA Direct Debit merchant fees for transactions up to €200 | ✓ | Immediately |
| SEPA Direct Debit merchant fees for transactions over €200 | ✓ | Immediately |
| Returned merchant SEPA Direct Debit transactions | ✓ | Immediately |
Charging custom fees
Swan shares revenue from fees with Partners. But the fees you can charge are strictly regulated.
You can customize banking fees and some other types of fees for your project. In customizing your fees, you might choose to either (1) absorb some of the fees yourself, or (2) charge your users markup on top of Swan's fees. Allowing for markup is Swan's way of sharing fee revenue with you.
Every time you change your list of fees, Swan automatically updates the financial conditions in your Swan Terms and Conditions and sends them to all current users. There is a two-month waiting period before the changes automatically take effect for your current users. New users follow the updated Terms and Conditions from the start.
Which fees you can and can't charge is regulated. Refer to the guide build a compliant billing offer to customize and present your offer.
To learn more, discuss billing offers with your Account Manager.