Multiple accounts

Create additional accounts for an existing company account holder without repeating the onboarding and Know Your Business (KYB) processes.

Specific coverage

Contact your Strategic Account Manager (SAM) to request the Multiple Accounts feature.

Overview

The Multiple Accounts feature allows a single company to create additional Swan accounts under the same legal entity. These accounts share the same registration number and local IBAN as the first account created during onboarding.

Each account operates independently with its own IBAN, balances, and transaction flows, making it easy to create additional accounts for specific business needs.

They have the same capabilities as regular accounts, including issuing and accepting all payment types (e.g., card payments, SEPA Credit Transfers).

To accept payments, each account requires its own merchant profile review, so a new profile and payment method must be requested for each additional account created.

Eligibility

The Multiple Accounts feature is available for company account types, which include:

• Registered companies
• Self-employed workers
• Associations or non-profit organizations

Individual accounts

Individuals may create additional accounts. A new onboarding process is required, but Know Your Customer (KYC) isn't repeated.

Requirements

Legal representative requirements

Only the legal representative (account admin) of the first account can create additional accounts. All accounts under the same account holder automatically share the same legal representative. This ensures the same person manages all accounts under the same account holder.

Requests to change the legal representative follow the standard process, and apply across all accounts under the same account holder.

Account holder requirements

The following criteria must be met by the account holder:

Requirement	Value
accountHolder.verificationStatus	Verified
accountHolder.status	Enabled
accountHolder.type	Company
accountHolder.account.status	Opened

Suspended account restriction

If one or more of the account holder's accounts have a Suspended status, the account holder can't open additional accounts. This security measure prevents bypassing account restrictions through new account creation.

Membership management

Memberships are tied to each account, not to the account holder. Even if a user is a member of the first account created during onboarding, they must be invited to every new account. For example, an employee can access the operating account (created first), but not the new reserve account.

Learn more about account memberships →

Key benefits and use cases

Operational benefits

• Skip onboarding for each new account.
• Share KYB verification across all accounts, reducing duplicate checks.
• Perform verification renewal (Re-KYC) on one account holder across all accounts.

Use cases

• Freelancers can use this feature for tax management.
• Small and medium businesses (SMBs) often use separate accounts for advanced spending management, like managing financial flows by supplier, department, or region.
• Homeowner associations (HOAs) can use an "operating account" for day-to-day expenses and a "reserve account" for common area expenses (e.g. repairs).

Feature activation

The Multiple Accounts feature is available to all partners, but isn't activated by default. Contact your Strategic Account Manager (SAM) to request activation before creating accounts.

When requesting the feature, make sure to include:

• The purpose for creating additional accounts.
• The number of accounts needed.

Compliance review

Your request is subject to a compliance review, as well as a contract and pricing review if accepted.

API implementation

Once the feature is activated, you can create additional accounts.

1. Call the openAccount mutation.

Multiple accounts guide

Follow the step-by-step guide to create multiple accounts.

2. Collect the legal representative's confirmation in your banking app. A consent URL or Strong Customer Authentication (SCA) is not required.

Confirmation

You must include a clear confirmation step, such as a button, for the legal representative to confirm their intent.

The new account is created under the same account holder, sharing the same KYB and legal representative. All additional accounts have an Unlimited payment level and the PaymentService account type.

Account conditions

Account creation limit

By default, users are limited to one account until the Multiple Accounts feature is activated.

After the feature is activated, users may be granted a maximum number of accounts, which is defined during the compliance review and documented in a welcome letter.

Users are restricted from creating new accounts after reaching the maximum limit.

Call the projectInfo query to check your account creation limit.

This limit prevents fraud patterns involving successive opening and closing of accounts to bypass account creation limits.

Account status

All account statuses, including Suspended, Closing, or Closed, count towards the maximum limit.

Shared account details

IBAN country

All accounts under the same account holder share the same IBAN country. To create an account with a different IBAN country, the legal representative must complete a new company onboarding process.

Company registration number

All additional accounts are linked to one account holder with a single registration number. A new company onboarding process is required when creating an account for:

• A different company (with a different registration number).
• A new establishment (branch of the same company at a different address).

Account management

Legal documents

The same Terms and Conditions and Partnership Conditions apply to all accounts under the same account holder. Legal documents are generated in the same way as for single accounts.

Account closure

Standard account closure rules apply. Each account can be closed individually. You can request closure of the first account (created during onboarding) while keeping any additional accounts active.

Billing

End-customer billing

Each active account is billed independently, resulting in one invoice per account.

Partner billing

Active account pricing is applied at the account holder level, resulting in a new fee for active accounts on your invoice.

Setting access in Web banking

Feature not yet available

The ability to create multiple accounts through Swan Web banking is not yet available. End users can only view their multiple accounts once created through the API. Additionally, the Dashboard settings feature to control canOpenAccount is not yet available. Both functionalities will be released in a future update in 2026.

The canOpenAccount setting will be a project-level configuration that controls whether an account holder can open additional accounts directly from Swan Web banking.

This setting will be activated by default. Unless you deactivate it, end users will be able to create multiple accounts from Swan's interface.

To restrict account opening to your own banking application, you'll be able to deactivate the canOpenAccount setting in your Dashboard > Settings > Web banking.

Key benefits

Controlling this setting will give you greater flexibility to:

1. Restrict by pricing plan: Restrict access to the Multiple Accounts feature by pricing plan.
2. Differentiate by account limits: Define how many additional accounts a user can create. For instance, one additional account for Basic plans and up to five for Premium plans.

Rejections

Multiple account creations can be rejected for the following reasons:

Rejection reason	Description
AccountHolderNotFoundRejection	The provided account holder ID doesn't match an existing AccountHolder.
ForbiddenRejection	The project isn't allowed to create multiple accounts, or the wrong context is used.
AccountMembershipNotEligibleRejection	The user isn't eligible to create the account. They must be the account legal representative.
AccountHolderTypeNotEligibleRejection	The account holder type must be Company.
AccountHolderStatusNotEligibleRejection	The account holder status must be Enabled.
AccountHolderVerificationStatusNotEligibleRejection	The account holder must have a Verified KYC status.
AccountHolderAccountsTypeNotEligibleRejection	All associated accounts must be EndCustomer or CapitalDepositMainAccount.
AccountHolderAccountsStatusNotEligibleRejection	No active accounts available. All associated accounts are Closed, Closing, or Suspended.
AccountHolderAccountsSuspendedStatusNotEligibleRejection	One or more accounts are Suspended for compliance reasons. Account creation is blocked.
AccountHolderAccountsCreationLimitRejection	The maximum number of accounts created has been reached (all account statuses count toward the limit). Check project settings for the Multiple Accounts feature.
AccountHolderProjectSettingNotEligibleRejection	Account creation is disabled in project settings.

Guides

• Create multiple accounts