Swapin review

There is no monthly charge: the monthly fee is €0, so nothing is added for holding the account open between payments. The only cost that applies is the fee on each transfer, which is 1.35% (min EUR 2.95), and that is what you budget for when paying suppliers.

Transfers cost 1.35% (min EUR 2.95), charged per transfer rather than through a monthly plan. With the monthly fee at €0, the cost of a payment sits in a single line, which helps when you reconcile supplier invoices and payroll runs.

Delivery on SEPA transfers is Up to 5 mins (instant SEPA); 1 business day (SEPA), and payouts go to a bank account, so money lands in a normal bank account. Instant SEPA is the quicker path, while the standard SEPA route takes longer, so timing depends on the rail your payment uses.

Balances are covered by EU DGS up to EUR 100,000. The company behind the service is Ungaro LLC, based in Estonia and registered with the Estonian Financial Intelligence Unit under FVT000088. The service is digital only by design, so opening and identity checks happen online.

The currency count is 2, which keeps the service focused on the euro side of banking rather than a long currency list. You receive local iban details, so incoming euros look like a domestic transfer, but a wider multi-currency setup needs a different provider.

The service is digital only, so everything is handled through the app and website rather than a counter. Payouts are made to a bank account, which suits paying suppliers who invoice from an ordinary bank. If you need cash pickup or a card payout, pick a provider that lists those.

Support runs on email, help centre and community, which means email, the help centre and the community rather than a phone line. For a business reconciling payments, the help centre articles are a good place to check the fee and timing rules before you reach out to the team.

The service is aimed at business customers, and the account is built around euro payments between companies rather than personal saving. Local iban details make it easy for a supplier or client to pay you like a domestic euro transfer, which is the flow it is built around.