How can we help?

We have segmented the questions that our customer support team receives most frequently into six main blocks. In each one of them you will find information regarding the use of our services and instructions for when you are experiencing problems, such a lost card or forgotten password.

How old do I have to be to use Swaggy Premium services?2024-03-22T18:15:46+00:00

At the moment, the minimum age for becoming a Swaggy Premium client is 18. We are working to lower it down in the future, developing products for younger generations.

Why is the video ID verification call necessary?2024-03-22T18:15:07+00:00

Swaggy Premium has a partnership with an Electronic Money Institution which Supervision Service Department of the National Bank of Lithuania and has been granted the electronic money institution license Nr. 28, with a payment system participant code Nr. 30600, and conducts Business under the laws of the Republic of Lithuania, according to the EU Directive (2009/110/EC) and the EU Directive (2015/2366) on EU wide payment services. We are legally required to verify your identity before we can open a Swaggy Premium account for you. The ID verification procedure through video call is a legally compliant remote identification process, designed to comply with the latest banking regulations and laws, as well as the Anti Money Laundering Act (AML).

How do I complete the video ID verification call?2022-07-08T09:40:57+00:00

Our partner Ondato has developed a safe, secure and convenient method for digital ID verification in real-time, from anywhere in the world. To initiate your one-time ID verification process, click on “Verify your identity” button either right after registration or after setting up your password. During the video call you will take photos of your passport or national ID and take a selfie. It will not take more than one minute of your time.

Here are a few tips on how to prepare yourself for the video call:

  • Ensure you are in a quiet place with strong internet connection and good natural lighting.
  • Select your citizenship, check what type of document you can use for the ID verification and have it ready.
What is ID verification?2022-07-08T09:41:28+00:00

It is an identity verification procedure powered by our partner Ondato, performed through a one-time video call.

How can I sign up?2024-03-28T14:17:27+00:00

Applying for a Swaggy Premium account is simple and can be done remotely. To start the application process, click on “Open Personal Account” for private individuals, or “Open Corporate Account” for businesses. After the submission of an application form, it will be reviewed by our Compliance department. This step can take up to 7-10 business days. In some cases, we may ask you to provide additional information in order to complete the procedure in accordance with regulatory requirements.

Upon the submission of your application, you will need to set up a password, which you will use to log into your account. For this purpose, you will receive an email from Swaggy Premium with a password setup link.

The link is valid for 24 hours; in case of link expiration, please request a new one by contacting our Customer Support team at info@swaggypremium.com. After setting the password, please download the Swaggy Premium app to verify your identity. You will need the frontal camera of your smartphone along with your passport or a national ID to complete identity verification.

Which countries is Swaggy Premium available in?2024-03-28T14:23:22+00:00

Swaggy Premium provides digital money management solutions to customers all over the world, empowering them with cutting-edge technology for efficient financial operations. You can open an account with us regardless of your citizenship or financial history; however, there is a list of countries that we do not onboard clients from. You can find the full list of Blacklisted jurisdictions on the dedicated web page: “Blacklisted jurisdictions”.


If you’re dealing with money transfers to your relatives and friends or consider lowering the costs of sending and receiving funds from your business partners and clients, this guide will give you all the information you’re looking for. In this comprehensive guide you will learn more about SEPA and the ways you can benefit by using it for your private and corporate transactions.

We made sure to answer the FAQs and cover various issues related to SEPA payments — the top transfer option that improves daily transactions for millions of people and companies in the Single Euro Payment Area.

If you are not acquainted with SEPA payments, we suggest you study this guide carefully to learn the basics of how the system works. Should you be interested in specific questions, please refer to the Table of Contents to find the section that will give you a comprehensive answer

What is SEPA?2022-07-08T10:16:39+00:00

Single Euro Payments Area is a payment integration initiative of European countries, which simplifies the execution of transfers in euro, both in terms of speed and cost efficiency.

What are the use cases of SEPA transfers?

European citizens and residents use SEPA for different motivations. These include but are not limited to billing for services or products, receiving salaries, pensions, and various regular payouts, sending money to friends and family, etc. Many businesses fully rely on SEPA within Europe, as the system help them satisfy their main needs: purchasing raw materials, buying and selling ready products, sending salaries to their employees, clearing money obligations with their partners, and the list goes on.

Although certain banks may apply small commissions for the Single Euro Payments Area transactions, the system is completely free on a general scale. Moreover, as all payments are in Euro only, customers also save on exchange rates. Any given transfer that amounts to less than 50,000 EUR will only require a couple of hours to reach the beneficiary. Besides, the instant credit transfer option that takes 10 seconds at most, is being gradually integrated all over Europe.

The euro currency and its coverage

Euro has the status of national currency in nineteen countries of the Eurozone, as well as in nine other non-EU territories, including two states outside Europe.

Euro is the only available currency in the SEPA system, as it covers not only the EU member-states, but also Norway, Denmark, Poland, and other countries. Open financial and customs borders give businesses in these countries an opportunity to conveniently trade and operate in Euro, alongside the local currency.

SEPA countries2022-07-08T10:17:44+00:00

The thirty-six territories that support SEPA greatly boost the economic capacity of the region. At the moment, the SEPA zone consists of twenty-eight EU member-states: Germany, France, Estonia, Belgium, Spain, Denmark, Italy, Greece, Finland, Hungary, Austria, Slovenia, Ireland, Bulgaria, Malta, the Netherlands, Lithuania, Poland, Croatia, Portugal, Sweden, Cyprus, Latvia, Romania, the Czech Republic, Luxembourg, Slovakia, and the United Kingdom.

However, SEPA is not only about the EU countries. Such territories as Norway, Iceland, Liechtenstein, Switzerland, Andorra, San Marino, and Monaco, are also part of the network.

Considering the population of the above-mentioned states, almost half a billion people reside in the SEPA area and generate more than 120 billion SEPA transactions each year.

This makes SEPA the primary means for Euro transactions in the EEU. All citizens and businesses residing or possessing bank accounts in the countries of the SEPA zone can enjoy international Euro transactions of the same speed and convenience as the ones executed domestically.

SEPA and the UK2022-07-27T09:02:35+00:00

Despite the fact that GBP is the national currency of Great Britain, SEPA transfers are still available for its citizens and residents. Despite Brexit, the UK has retained its SEPA membership, as the system is an excellent tool that currently has no analogs for private and corporate transactions in Euro. This payment method combines a perfect set of standards for improving the efficiency of cross-border transactions and merging separated local markets into one.

In Europe, any customer can make a transfer Euro to a UK bank account using the SEPA system. Moreover, such transactions won’t require currency exchange or any relevant commissions. Euro accounts in the UK come with IBANs that are no different from the ones issued in Europe. A SEPA transfer can also be chosen to execute a transaction between the USA and the United Kingdom, given that the American party has a Euro account opened in an EU banking institution. In order to open a current account in Euro, the UK citizens and businesses only have to provide the very basic personal data, which falls under European requirements.

EUR currency account2022-07-08T10:20:37+00:00

So, what are the privileges of having a Euro current account? Because current accounts in Euro allow you to transact without inquiring extra commissions and extensive waiting times.

You are free to open a Euro account anywhere beyond the Eurozone; the conditions will be quite similar as those relevant for the local currency in that jurisdiction. Most banks also offer very competitive fees for the conversion of local currency to Euro.

No matter what EU country we are speaking about, having a private or business account in Euro has become an essential requirement for hassle-free international travels and smooth cross-border trade.

Although currency exchange is very simplified within Europe, it is best to open a Euro current account in countries that use Euro as national currency.

SEPA Direct Debit vs SEPA Credit Transfer (CT)2022-07-08T10:21:49+00:00

Even though the two may sound quite similar, SEPA CT and Direct Debit are two different ways to send money and come with different requirements. Both support transactions in Euro, but the mechanism is distinct for each.

SEPA Credit Transfer is a simple money transfer, which only requires the recipient’s IBAN. It is most frequently used to make single payments for services or goods within the SEPA network. For instance, if a person living in Italy purchases an item from a supplier in the Netherlands, he can use SEPA Credit Transfer as a payment method. In most cases, the beneficiary receives the payment in one business day after the transaction is executed.

Alternatively, SEPA Direct Debit is managed by the customer’s bank, credit union or another money institution, on his behalf. This process works under the conditions of signed authorization.

Having a much simpler option like the SEPA Credit Transfer on the other side, this may sound too complicated, however, sending a Direct Debit payment doesn’t require immediate personal approval of every transaction by the customer.

Most of the Direct Debit transfers are recurring payments of a certain amount that are executed every month, or another set timeframe; they can also take the form of conditional cashless payments, like sending a particular amount to the beneficiary after the account balance hits an indicated threshold. Direct Debit is widely used to subscribe for services, pay debts or rent. Businesses heavily rely on this option, as lengthy contracts may include several predefined payments.

What is an IBAN and a BIC?2024-03-22T18:01:25+00:00

Within the SEPA system, all transactions require the sender’s and beneficiary’s IBAN, or International Bank Account Number, which is a unique code that serves as an address from and to which the payment is sent. IBAN contains the bank identifier, the country code, and the account number in the bank itself, which makes it sufficient to execute most payments, especially Credit Transfers.

An IBAN contains the bank chain number or code, a two-digit country code, a checksum to ensure its integrity, and the account number in the financial institution itself. A regular IBAN looks like this:

 Example: DE89 3704 0044 0532 0130 00

Here, DE — is the code for Germany, 89 is the control number, calculated using all other digits, 3704 0044 is the code of the bank, as well as of the bank office the account was opened at, and 0532 0130 00 is the account number. Such a precise coding system minimizes the possibility of errors and ensures that every transaction reaches its recipient.

It is worth mentioning, that in different countries IBANs may contain extra letters together with digits; however, the length and overall appearance is generally identical.

Business Identifier Code, or BIC, is a unique short code that serves for the identification of banks, their branches, credit unions, and other money institutions. For SEPA CT within the Eurozone, these are usually not needed, but sometimes a bank may require this information to issue Direct Debit payments.

A BIC contains four digits that stand for the bank code, a two-digit country code, and two to five digits (letters or numbers) that indicate the exact bank office. Here’s an example:


Here, STUA is the designated code for Swaggy Premium, LT is the country code of Lithuania, and 21XXX is the company’s designation for the central office in Vilnius.

SEPA vs SWIFT2022-07-08T10:23:51+00:00

SWIFT is another cross-border wire transfer network, which is accessible from pretty much anywhere. Currently, over 10,000 banking institutions in 210 states are connected to SWIFT. Its rules are practically identical to those of SEPA; however, SWIFT transactions are executed in pretty much any currency. Businesses located in Europe use SWIFT for their financial operations, but there are several key differences that make SEPA much more convenient for Euro payments.

Unlike SEPA, SWIFT is not free. Any bank is allowed to set and charge commissions, for both incoming and outgoing transactions. Not all financial institutions are connected to SWIFT without third parties, but instead use correspondent banks that act on their behalf, following mutual agreements. Thus, one simple transaction may sometimes be subject to fees from a couple of different institutions!

Another difference is transaction speed. While SEPA instant credit transfers only need ten seconds to be executed, some SWIFT transactions may take up to a few working days.

SWIFT supports any currency, and this is both an advantage and a drawback. Let’s say, the recipient and sender operate in two different currencies. In this case, the funds will be converted automatically using exchange rates that are not beneficial to the parties, along with institutional commissions.

SWIFT is a fundamental worldwide payment instrument that is, however, slowly giving up to SEPA transfers, as more and more businesses outside of Europe are opening Euro current accounts to operate within the system.

It is worth mentioning that since these two methods are different, SWIFT transfer cannot be received on a SEPA account, and vice versa.

SEPA Instant Credit Transfer2022-07-08T10:24:48+00:00

Since 2017, financial institutions in eight Eurozone countries started offering SEPA Instant Credit Transfers, also known as SCT Inst. Essentially, these are credit transactions that are usually processed in under 10 seconds, and under unusual circumstances – in up to 20 seconds. Currently, SEPA Instant payments are executed in all the Eurozone states.


As suggested by this guide, SEPA has various advantages, which makes it one of the most popular money transfer methods in Europe. Both individuals and businesses continue to increasingly integrate SEPA transfers into their daily operation.

At Swaggy Premium we are ready to become your trusted partner and guide in the world of fast and cost-efficient Euro transfers. Apply for a European current account today, without leaving your home or office, and enjoy all the benefits of SEPA payments!

Where can I find my IBAN?2024-03-22T18:00:01+00:00

You can find your account details by taking the following steps:

Swaggy Premium Web Client office → Sign in to your Swaggy Premium account using a One-time Password → Go to the Accounts tab on the left side of your screen → Click on the Account that you need the information for → Click on the Funding Instructions tab and expand the details.

Swaggy Premium Mobile app → Sign in to your Swaggy Premium account → go to the Accounts tab → Click on the Account that you need the information for → Click on the Funding Instructions tab.

How long does it take to transfer money from my SwaggyBank account?2022-07-08T10:30:30+00:00

The processing time for outgoing transfers depends on the transfer type. Internal system transfers are instant. SEPA transfers take between 1-2 business days. SWIFT transfers take between 3-5 business days.

I want to send/receive a transfer in other currency than EUR, what should I do?2022-07-08T10:31:24+00:00

International outgoing/incoming bank transfers in other currencies than EUR are available only via our Shared IBAN service. To order accounts in other currencies, please submit a SWIFT order form and we will get back to you with the most suitable solution for your transactional needs.

I did not receive a transfer in its full amount. Were additional fees charged?2024-03-22T17:59:18+00:00

We do not charge any fees when you deposit money to your Swaggy Premium account via a bank transfer. However, when making an international payment, the sender can choose you as the party that covers the outgoing transfer fees. Additionally, when receiving SWIFT transfers, the correspondent (intermediary) bank may deduct processing fees, hence a smaller amount can be credited to your account.

I did not receive an incoming transfer. What should I do?2024-03-22T17:58:04+00:00

In case a transfer that was sent to you has not been credited to your account, you should obtain a payment confirmation from the sender and send it to our Customer Support team at support@swaggypremium.com or via chat.

I made a transfer to a wrong IBAN. What should I do?2024-03-22T17:57:53+00:00

If you made a transfer to a wrong IBAN, please immediately notify our Support Team at support@swaggypremium.com or via chat and ask them to initiate a Payment Recall.

Please note, that if the transfer has already been credited to the recipient’s account, we will not be able to reverse the transaction. In this case, we would advise to contact the recipient directly and ask for a return.

How can I make a transfer to another Swaggy Premium account?2024-03-22T17:57:38+00:00

To make an internal transfer, you will only need the short account number of the recipient.

Choose the “Internal transfer” payment type in your Client office, enter the account number, and the system will automatically search the database. After selecting the beneficiary, you will be requested to enter the amount of the transaction and confirm the payment. The transfer will be executed instantly.

How can I order a prepaid card?2024-03-22T17:57:27+00:00

You can follow this link to order a prepaid card, which will be linked to your Swaggy Premium account. Note: You can only order a prepaid Mastercard if you have a current account with Swaggy Premium.

Can I get a card without opening a current account with Swaggy Premium?2024-03-22T17:57:13+00:00

Unfortunately, this option isn’t available. In order to get a card, you have to open a current account with Swaggy Premium.

What is the difference between the Regular Spender and the Active Spender tariffs?2022-07-08T10:41:00+00:00

The difference is in the card limits and fees. The Active Spender tariff allows for higher limits with lower fees.

Can I upgrade my tariff from Regular Spender to Active Spender?2024-03-22T17:56:49+00:00

Yes, in order to request an upgrade, please contact our Customer Support team at support@swaggypremium.com or via chat.

When will my card be delivered?2022-07-08T10:42:48+00:00

After your order is placed, and given you have sufficient funds to cover the issuance and shipping fees, the card will usually be sent within the next 1-2 business days.

Standard delivery time is currently up to 1-2 months due to the Covid-19 emergency. Express delivery to the EU countries and the UK should take no longer than 3 business days. Express delivery to other countries should take up to 5 business days.

How many cards can I get with my Swaggy Premium account?2024-03-22T17:55:39+00:00

Personal account: 2 physical cards and 2 virtual cards per account holder.

Business account: a maximum of 5 cards (virtual or physical) for up to 5 cardholders per single Business account.

What currency can my Swaggy Premium card be issued in?2024-03-21T18:12:05+00:00

At the moment, all cards are issued in EUR.

How can I top-up my Swaggy Premium card?2024-03-21T16:01:32+00:00

Choose the Cards section in your Client office, select the card you need to top-up, enter the amount and the narrative, if necessary, and approve the transaction. The transaction will instantly reflect on your card’s balance.

Where can I find my card’s PIN?2024-03-21T16:01:09+00:00

You can always find it in the card settings. If you wish to change it, please contact our Customer Support team at support@swaggypremium.com or via chat.

Does my Swaggy Premium card have the contactless feature?2024-03-21T15:56:54+00:00

Yes, all Swaggy Premium cards support contactless payments.

What is the current limit for a contactless payment without authorization (PIN entering)?2022-07-08T12:27:26+00:00

The limit is set by the merchant’s bank, guided by World Payment Systems. Usually the limit is between 25-50 EUR. Nevertheless, all the limits for transactions being set up on the card in accordance to the tariff plan assigned remain the same.

Are there any card limits?2024-03-21T15:53:37+00:00

You can check the Swaggy Premium card limits here: Card page. In order to raise your card limit, please contact our Cards team via chat or at cards@swaggypremium.com.

Can I withdraw money from my Swaggy Premium card in an ATM?2024-03-21T15:45:59+00:00

You can withdraw money from your Swaggy Premium card in any ATM that supports Mastercard. Please note that there are limits on withdrawals in place.

Can I pay online with my Swaggy Premium card?2024-03-21T15:44:53+00:00

Yes, you can pay online with your Swaggy Premium card. Please be sure that the balance of the card is higher than the amount of the transaction you wish to perform.

My card is about to expire. What should I do?2024-03-21T15:42:41+00:00

One month before your card expires, you will receive a card replacement notification. In the same notification you will be asked to indicate your address for card delivery. Note: Please note that once you receive your new card, you must activate it through the Swaggy Premium web Client office or via the mobile app.

Can I block the Swaggy Premium cards linked to a currency account?2024-03-21T15:41:10+00:00

Yes. To do so, please send an inquiry to our Cards team via chat or at cards@swaggypremium.com

Can a company issue cards for its employees under a Business account?2024-03-21T15:39:08+00:00

Yes. For details, please contact our Customer Support team via chat or at info@swaggypremium.com

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