Swan, and like any other financial institution, charges some fees to the end-customer on specific transactions and operations to cover for costs.
These fees are listed in Appendix 1 of Swan’s Terms of Use, which all customers receive and accept when opening an account.
Some of these fees are related to the use of the Swan card (unless negotiated otherwise with our partner):
- Cash withdrawals at ATMs in France and the SEPA area: €1.
- Cash withdrawals at ATMs outside the SEPA area: 2% of the amount withdrawn.
- Payment for goods and services in shops or remotely outside the SEPA area: 2% of the amount paid.
The exhaustive list of our banking fees is available in our Terms of Use, Appendix 1.
Until February 2023, the billing of these fees was not yet enforced, which enabled end-customers to benefit from free of charge transactions.
To avoid charges, you can limit the usage of your account or close it at any time by contacting support@swan.io. You may also check your billing from the dedicated page.
Excerpt from APPENDIX 1: Swan Account financial conditions
- Funding an account by credit card: 0.7% of the amount deposited + €0.12 incl. VAT.
- Cash withdrawals at ATMs in France and the SEPA area: €1, incl. VAT.
- Cash withdrawals at ATMs outside the SEPA area: 2% of the amount withdrawn.
- Payment for goods and services in shops or remotely outside the SEPA area: 2% of the amount paid.
- Call to "Customer Service": cost of a local call, depending on the operator.
- Improper use of the account (attempting or performing acts in violation of the law and/or this Account Agreement): €180, incl. VAT.
- Processing of judicial or administrative seizures, notice to third party holders: An amount equal to 10% of the amount of the seizure, up to a maximum of €20 incl. VAT per file.
- Fee for direct debit rejections due to an insufficient balance: €10 incl. VAT per rejected direct debit, up to the amount of the rejected direct debit.
- Drafting a circulation letter for a legal entity holder: €54, incl. VAT.
- Intervention fee for managing unauthorised overdrafts: €8 incl. VAT per transaction, up to a maximum of €80 incl. VAT per month.
- For accounts with a credit balance of more than €100,000, negative interest will be charged on the basis of the deposit facility rate defined by the European Central Bank and available at https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.fr.html. This rate is currently -0.5%. The fee charged will be equal to the above-mentioned rate multiplied by the fraction of the account balance exceeding €100,000. Negative interest charges are calculated on a daily basis and added up at the end of the month. If the deposit facility rate is higher than 0, no fee will be charged by Swan for this.
On the date of signature of this Agreement, the SEPA area includes: all European Union countries, the United Kingdom, Iceland, Liechtenstein, Norway and Switzerland.