SEPA Direct Debit mandates

To allow certain companies to debit money from your account as a one-time or recurring payment, you need to set up a SEPA Direct Debit mandate. This permits the company to withdraw money from your account. After it's activated, the company can automatically process payments from your account.

There are two types of payment mandates:

• Business-to-Consumer (B2C) mandate: direct debit agreement between a company and an individual in euros.
• Business-to-Business (B2B) mandate: direct debit agreement between two companies in euros.

It's important to know the difference between these mandates because they handle different kinds of payments and have their own setup process, which is explained in this article.

Business-to-Consumer (B2C) mandates

When you enter into a contract with a merchant, such as a utility or real estate company, they may initiate SEPA Direct Debit Core (SDD Core) transactions to your account. To enable these transactions, you must return a signed B2C mandate document to the supplier.

The supplier will automatically add the mandate to your account. You don’t need to send it to Swan.

B2C mandate form requirements

Your B2C mandate form should have the following information:

1. Mandate title and reference: a unique identifier to track your financial agreement.
2. Debtor: your full name, address, and contact information.
3. Creditor: merchant’s name, address, and identifier number.
4. Bank account details: bank account number and Bank Identifier Code (BIC).
5. Type of payment: frequency of payments, such as recurrent or one-off.
6. Date and location: when and where the direct debit mandate form was signed.
   Signature: consent to the direct debit arrangement.

Direct debit mandate forms may differ depending on the merchant or country. Some mandates may require you to specify start or end dates.

Business-to-Business (B2B) Mandates

A B2B mandate allows a business to automatically withdraw money from your business's payment account.

Submitting a B2B Mandate

Your B2B mandate can be submitted by your company's legal representative, a member with permission to initiate payments.

To submit your B2B mandate, choose one of the following options:

• Upload it directly to your Web Banking interface if possible.
• Submit a request to Swan Support in your Web Banking app. Make sure you attach your mandate.

You'll receive a request to validate the mandate and will be notified after it is active.

B2B mandate form requirements

Your B2B mandate form should have the following information:

1. Title: the form must specify a business-to-business direct debit mandate.
2. Mandate reference: a unique identifier to track your financial agreement.
3. Debitor: company name, registered address, registration number, and relevant business details.
4. Bank account details: bank account number and Bank Identifier Code (BIC).
5. Creditor: merchant’s name, address, and business identifier number.
6. Type of payment: frequency of payments, such as recurrent or one-off.
7. Date and location: when and where the direct debit mandate form was signed.
8. Signature: consent to the direct debit arrangement.
   
   

If you have any issues relating to SEPA Direct Debit mandates, submit a request to Swan Support.