Audience:
Licence and regulatory status
Swan's license
Swan holds an e-money license valid across the European Economic Area (EEA) overseen by France's Autorité de Contrôle Prudentiel et Résolution (ACPR). In English, ACPR translates to Prudential Supervision and Resolution Authority.
Because Swan holds the license, Swan assumes responsibility for all sensitive and risky banking operations. While many operations can be delegated to you, some are always performed by Swan for regulatory purposes. For example, consent is always required for sensitive operations, and consent always involves Swan in a Live environment.
Your legal status
Your legal status while partnering with Swan depends on the country in which your company is based: in France, or anywhere else in the European Economic Area (EEA).
| Location | Status |
|---|---|
| 🇫🇷 France | You'll operate as a Registered Swan Intermediary. Learn more in the dedicated guide for France. |
| All other EEA countries | You'll operate as a Commercial Agent of Swan. You don't have to complete a regulatory process to become a Commercial Agent. Swan handles it once you go Live. |
Restricted businesses
Swan builds infrastructure for businesses to embed financial services. Most types of companies can embed banking services with Swan, but some aren't allowed. Swan must also follow all local laws and rules from banks, payment networks, and regulators.
This decision is risk-based, not preference-based. Swan won't work with industries that could harm the reputation or finances of Swan or its partners.
Restricted activities are categorized into two groups:
- Common restricted activities: This list applies to all Swan Partners. Your users can access this list in our dedicated Support Center article.
- Additional restricted activities: These apply only to Partners with specific regulated services, such as Neobanks, Accounts Payable, and Capital deposits. Please contact your PIM (Partner Integration Manager) to confirm if these apply to your service.
Businesses engaged in activities listed in either group will be ineligible to open an account.
Common restricted activities
Swan restricts activities in the following list for all users:
| Category | Restricted activities |
|---|---|
| Financial and regulatory risk activities |
|
| Crypto-assets and virtual currencies |
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| Controversial or sensitive activities |
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| Substance and materials-related activities |
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| High-risk or unregulated commerce |
|
Additional restricted activities
Swan restricts activities in the following list for users of Swan Partners supporting specific regulated use cases.
If these restrictions affect your project, we recommend that you include both the common and additional lists of restricted activities in your own terms and conditions or support documentation, and share this list with your users.
| Category | Restricted activities |
|---|---|
| Tobacco and related industries |
|
| Extractive and high-impact energy industries |
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| Industrial and chemical activities |
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| Gaming, gambling, and entertainment with monetary value |
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| Financial and payment-related services |
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Not participating in one of the listed industries doesn't mean your account will be validated. All Swan Partners complete a rigorous review process before going Live. Learn more in the guide to activate a Swan project.