Company account onboarding
Process of creating a new company account holder, and opening a new Swan account for that account holder.
Self-employed users hold company accounts. Refer to the country requirements section for more information about identification for self-employed users.
Process overviewâ
Company onboarding supports different types of organizations, including:
- Several types of companies
- Self-employed workers
- Associations or not-for-profit organizations
Your main action is to create a company onboarding link. The link leads your user to a multi-step form through which Swan collects essential information to open the account.
When creating an onboarding link for your users, you can pre-fill most of the information for them. When your user goes through the form, they'll confirm that the information you entered is correct. Users can also fill in this information themselves.
Company onboarding formâ
The company onboarding form begins by gathering preliminary details about the company. Then, Swan collects the following information:
- User's email address.
- Legal information about the organization, including the company name, registration number (optional), VAT number (optional), and address, as well as details about the organization's activity and expected monthly volume.
- Information about the company's ultimate beneficial owners (UBO). This step only applies if the user selected company, home owner association, or other when submitting their preliminary details.
- Required documents to verify your organization. You might not see this step in your onboarding process.
- User signs up for Swan.
Expected monthly volumeâ
Swan uses the expected monthly volume provided during onboarding to monitor the account. It's essential to select the range that corresponds to the company's actual volume, and to notify Swan if that expected monthly volume changes during the account's lifecycle.
If you use Swan's onboarding form, this information is collected by default. If you design your own form, please offer the following ranges:
- Less than 10 000âŦ (
LessThan10000) - Between 10 000âŦ and 50 000âŦ (
Between10000And50000) - Between 50 000âŦ and 100 000âŦ (
Between50000And100000) - More than 100 000âŦ (
MoreThan100000)
Country-specific infoâ
Requested information can change based on your account country. Refer to the tables later on this page for country-specific requirements.
Identification recommendationsâ
Swan must verify the identity of the legal representative for each company. Swan supports multiple identification processes, and some require a first transfer. For company onboarding, the following levels are recommended based on the account country.
| Account country | Recommended level for legal representative | Other supported levels |
|---|---|---|
| đĢđˇ France | â Expert | QES PVID |
| đŠđĒ Germany | â Expert | QES |
| đŽđš Italy | â QES | Expert + first transfer |
| đŗđą Netherlands | â Expert | QES PVID |
| đĒđ¸ Spain | â Expert | QES PVID |
- France unregistered self-employed: PVID, or Expert and first transfer to your Swan account (QES is technically accepted but not preferred)
- France registered self-employed: Expert
- Germany self-employed: QES and first transfer to your Swan account
Country requirements for company accountsâ
Requirements vary country to country when opening any type of Swan account. Requirements for company accounts are different than for individual accounts, and there is also a different mutation.For company accounts, use the onboardCompanyAccountHolder mutation to collect the following information according to your desired account country.
Note that this section is broken up into company and account holder information, information about the UBO, and information about the legal representative.
All have required fields. If the cell is empty, the field is optional.
Company and account holder informationâ
| API field | đĢđˇ France | đŠđĒ Germany | đŽđš Italy | đŗđą Netherlands | đĒđ¸ Spain |
|---|---|---|---|---|---|
accountCountry | â Required (FRA) | â Required (DEU) | â Required (ITA) | â Required (NLD) | â Required (ESP) |
accountName | |||||
businessActivity | â Required | â Required | â Required | â Required | â Required |
businessActivityDescription | â Required | â Required | â Required | â Required | â Required |
companyType | â Required | â Required | â Required | â Required | â Required |
email | â Required | â Required | â Required | â Required | â Required |
isRegistered | â Required | â Required | â Required | â Required | â Required |
language | â Required | â Required | â Required | â Required | â Required |
monthlyPaymentVolume | â Required | â Required | â Required | â Required | â Required |
name (company name) | â Required | â Required | â Required | â Required | â Required |
redirectUrl | |||||
registrationNumber(if registered) | â Required | â Required | â Required | â Required | â Required |
residencyAddress.addressLine1 | â Required | â Required | â Required | â Required | â Required |
residencyAddress.addressLine2 | |||||
residencyAddress.city | â Required | â Required | â Required | â Required | â Required |
residencyAddress.country | â Required | â Required | â Required | â Required | â Required |
residencyAddress.postalCode | â Required | â Required | â Required | â Required | â Required |
residencyAddress.state | |||||
taxIdentificationNumber | â Required (â 90 days) | īš Conditional | |||
typeOfRepresentation | â Required | â Required | â Required | â Required | â Required |
vatNumber |
īš Required if both the accountCountry and residencyAddress.country are Spain.
â If the accountCountry is Germany, the account holder has 90 days to provide their Tax ID Number when opening an account.
Otherwise, the account is Suspended.
Share Swan's Support Center article if your account holders have concerns.
Ultimate beneficial owner (UBO) informationâ
If your company doesn't have a UBO, these fields can be left empty.
UBO stands for a portion of the API field: individualUltimateBeneficialOwners.
| API field | đĢđˇ France | đŠđĒ Germany | đŽđš Italy | đŗđą Netherlands | đĒđ¸ Spain |
|---|---|---|---|---|---|
UBO.birthCity | â Required | â Required | â Required | â Required | |
UBO.birthCityPostalCode | â Required | â Required | â Required | ||
UBO.birthCountryCode | â Required | â Required | â Required | â Required | â Required |
UBO.birthDate | â Required | â Required | â Required | â Required | |
UBO.direct | â Required | â Required | â Required | â Required | â Required |
UBO.indirect | â Required | â Required | â Required | â Required | â Required |
UBO.firstName | â Required | â Required | â Required | â Required | â Required |
UBO.lastName | â Required | â Required | â Required | â Required | â Required |
UBO.residencyAddress.addressLine1 | â Required | â Required | â Required | ||
UBO.residencyAddress.addressLine2 | |||||
UBO.residencyAddress.city | â Required | â Required | â Required | ||
UBO.residencyAddress.country | â Required | â Required | â Required | â Required | â Required |
UBO.residencyAddress.postalCode | â Required | â Required | â Required | ||
UBO.residencyAddress.state | |||||
UBO.taxIdentificationNumber | īš Conditional | â Required | |||
UBO.totalCapitalPercentage | â Required | â Required | â Required | â Required | â Required |
UBO.type | â Required | â Required | â Required | â Required | â Required |
īš Required if both the accountCountry and the UBO's residencyAddress.country are Germany.
Legal representative informationâ
lr stands for a portion of the API field: legalRepresentative.
| API field | đĢđˇ France | đŠđĒ Germany | đŽđš Italy | đŗđą Netherlands | đĒđ¸ Spain |
|---|---|---|---|---|---|
lrPersonalAddress.addressLine1 | â Required | â Required | â Required | ||
lrPersonalAddress.addressLine2 | |||||
lrPersonalAddress.city | â Required | â Required | â Required | ||
lrPersonalAddress.country | â Required | â Required | â Required | ||
lrPersonalAddress.postalCode | â Required | â Required | â Required | ||
lrPersonalAddress.state |
User flow diagramsâ
End-user perspective of a company account onboarding
Guidesâ
Use the following guides to start and complete the company onboarding process.