Swan Swan BaaS
A plan bySwan
Swan is an e-money issuer regulated by the Banque de France, with multi-IBAN coverage in the EU, an open-source SDK, presence in 30 countries and good privacy (8/10). It is, however, a B2B solution with setup costs from €2,990 and a 2% FX markup, not aimed at consumers.
Swan BaaS
- Price
- Free
- Issuance fee
- €5
- FX markup
- 2%
- Cashback
- 0%
- Cashback currency
- Nessuno
- Cashback cap
- Free
- Required staking
- Nessuno
- ATM fee
- 2%
- ATM limit
- €0/mese gratis, poi 2%
- Net annual cost
- Free
What's included
- BaaS API
- IBAN locali in 6 paesi
- Cards
- SEPA
- FR/DE/NL/ES/BE/IT
Data & conditions
| Account fee | Free |
|---|---|
| IBAN | dedicato · FR, DE, NL, ES, BE, IT |
| Multi-currency | No (single currency) |
| Outbound transfers to third-party IBANs | No |
| Utility direct billing | No |
| SEPA direct debit (SDD) | No |
| On-chain crypto withdrawal | No |
| SEPA transfer | Free |
| Interest on balance | 0% |
| ATM withdrawal | 2% |
| Free ATM limit | €0/mese gratis, poi 2% |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA · 30+ countries |
| Regulator | ACPR |
| OAM Italy registration | No |
| Segment | B2B |
| MiCA / License status | EMI Banque de France EMI |
Strengths
- Banque de France EMI; multi-IBAN EU; open-source SDK; privacy 8/10; 30 countries.
- No notable sovereignty advantage documented.
Weaknesses
- B2B; setup €2.990+; FX 2%.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Banque de France EMI): reporting to authorities and freezes on order.
Verdict
A good rating supported by Banque de France regulation, multi-IBAN EU coverage, presence in 30 countries and availability in Italy. The verdict stays below the top tier given its explicitly B2B nature, with setup costs from €2,990 and a 2% FX: regulatorily solid, but not aimed at the end consumer.
It earns a bit more than average here: high privacy for the category (8/10) and an open-source SDK bring unusual transparency and technical control. It remains, however, a custodial EMI with full KYC and ACPR oversight, so the end user's real autonomy is still limited.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is Swan a real bank?
Swan operates under a EMI licence (FR). It is regulated by ACPR. Fund protection: Safeguarding — nessuna garanzia depositi.
Can I send transfers to third-party IBANs with Swan?
The ability to send transfers to third-party IBANs is not documented; check the official website.
Does Swan support direct debits and utility billing?
SEPA direct debit (SDD): not documented. Utility-bill domiciliation: not documented.
Which fiat currencies does Swan support?
The number of supported fiat currencies is not documented. Multi-currency accounts: not documented.
Can I withdraw crypto on-chain from Swan?
On-chain crypto withdrawal is not documented; check the official website.
Sources
- Official service page Plans & pricing · Regulatory framework · Past incidents · Monthly fee · +21 Data verified on Jun 14, 2026
- eu-startups.com Latest funding round Data verified on Jun 14, 2026
- trust.swan.io Bug bounty Data verified on Jun 14, 2026
- trustpilot.com Trustpilot reviews Data verified on Jun 14, 2026
Show 2 more sources
- accel.com Founders Data verified on Jun 13, 2026
- organismo-am.it OAM Italy registry Data verified on Jun 13, 2026