SEPA Direct Debit for payers

By signing the SEPA direct debit mandate, you authorise the beneficiary of the payment to debit the amounts due from your account via SIEBK.

For your security, SIEBK authorises SEPA direct debits only on the basis of an original copy of the duly signed SEPA mandate. In addition, you must first sign the SEPA Core Direct Debit application form to set up this system.

You have a right of objection of 8 weeks / 56 calendar days following the debit date, without having to provide a reason. In the event of an unauthorised direct debit, the right of objection may be requested up to 13 months after the debit date.

PREREQUISITES

In order to be able to use the SEPA direct debit procedure for payers, the following prerequisites must be met:

• Hold a SIEBK account in CHF or EUR
• Sign the SEPA Core Direct Debit application form
• Sign the basic SEPA direct debit mandate and submit an original copy to SIEBK

How it works

1. You hold a SIEBK account. You sign the SEPA Core Direct Debit application form to set up the SEPA direct debit procedure for payers.
2. You register for a service provided by your collecting party who gives you a SEPA direct debit mandate as a means of payment.
3. You return the duly signed mandate to the collecting party.
4. An original signed copy of the mandate must be submitted to SIEBK to authorise the debit(s) for this collecting party.
5. The collecting party informs you of the next direct debit, e.g. by means of an invoice.
6. The collecting party sends his financial institution the direct debt order with all the information provided in the SEPA mandate.
7. The collecting party's bank forwards the direct debit order to SIEBK.
8. SIEBK debits your account after checking the validity of the information provided in the SEPA direct debit mandate.
9. The amount is debited from the SIEBK account and credited to the collecting party's bank account.
10. The amount is credited to the collecting party's account.