About the application form
We will send you the application form after your introductory meeting. The form is an interactive PDF that asks for:
- business details
- information on your anti-money laundering compliance
- operational information, including operational risk management framework and/or policies and procedures, incident management procedures and a Business Continuity Plan (BCP) or Disaster Recovery Plan (DRP)
- how you intend to access your ESAS account — either directly or alongside an agent
- information on your cyber risk management capabilities, which should be captured in your most recent cyber resilience survey for regulated entities, and any changes since your last survey or notifiable incidents. If your last cyber resilience survey was completed more than 12 months ago, you’ll need to submit a new one.
Having an agent is not a requirement for access to ESAS. For more information, see the agent information below.
The application process is the same whether you’re a registered bank or an NBDT. However, there are prerequisites separate from the ESAS application process that may apply, depending on how you want to use ESAS. Some prerequisites have upfront and ongoing costs.
If you're joining primarily to hold reserves
If you don't intend to settle payments with other ESAS account holders, you only require a non-connected BIC with no access to the Swift messaging network. If you already have a BIC, you can use it for an ESAS account. Non-connected BICs are provided free of charge by Swift, but Swift has advised us that it can take up to 3 months to obtain one (this is an estimated timeline if all required documents are submitted promptly).
Obtaining a non-connected BIC is a 3-step process:
Step 1: Register your company with Swift
Step 2: Receive credentials from Swift (this can take 3 to 4 weeks)
Step 3: Apply for a non-connected BIC
Register for a non-connected BIC on the Swift website
ESAS is a wholesale payments and settlement system that uses the Swift financial messaging network and other secure interfaces to process payments. Settlement banks (registered banks that use ESAS) are members of Swift and have the technical infrastructure to access the necessary Swift interfaces to move funds into ESAS accounts.
If you are applying to ESAS primarily to hold reserves and your application is successful, you will be set up with access to the ESAS web-based user interface where you will be able to:
- check your balance
- generate reports
- sweep funds back to your settlement bank (registered bank that uses ESAS).
However, unless you have a connected BIC with access to the Swift network, which has upfront and ongoing costs, you will need the services of a settlement bank to move funds into an ESAS account. Your settlement bank will use your non-connected BIC to direct funds. We’re happy to join discussions with you and your settlement bank about this, if it’s helpful.
NBDTs will likely need a registered bank that uses ESAS (settlement bank) to move funds into an ESAS account. If you’re a settlement bank and you have NBDTs as customers, they may contact you about banking arrangements for ESAS. We’re happy to join discussions you may be having with NBDTs about this, if it’s helpful.
We’re working with our ESAS vendor on an enhancement that will mean an NBDT account holder could move funds into their account themselves via automated means. We expect to have this enhancement in place in the second quarter of 2026. Contact us at [email protected] if you’d like:
- more information on the system enhancement
- ESAS technical information to assist with banking arrangements
- us to join settlement bank and NBDT discussions about ESAS.
If you are using a settlement bank, you may ask them to act as your agent. An ESAS agent is an existing ESAS account holder who is authorised to act on another account holder’s behalf in ESAS, via the ESAS user interface or Swift network.
An agent is optional and not a requirement for access to ESAS.
If you have an agent, in addition to moving funds into your ESAS account (a standard settlement bank function), the agent can sweep funds on your behalf. Your agent will need a connected branch code assigned and published by Swift to identify them as an ESAS agent. The lead time for this can be up to 3 months and there are associated costs. Your agent may pass on these costs and/or charge additional fees to act as your agent.
If you have questions
Email us at [email protected] if you have questions about the application process or would like more information about the BIC requirement, the role of settlement banks or the agent role and functionality.