SEPA direct debit

A SEPA Direct Debit is an easy way to collect your euro receivables within SEPA, and a convenient and reliable way to pay your bills from within SEPA.

November 2009 saw the launch of the cross-border SEPA Direct Debit scheme. UBS was involved from the start, supporting both the SEPA Core Direct Debit and SEPA B2B Direct Debit. The SEPA B2B Direct Debit has shorter time periods, no right of objection, and can only be used between businesses.

Advice & contact

SEPA Direct Debit for creditors

SEPA Direct Debit for creditors

How you benefit

  • Low-cost collection of single or recurring euro receivables into a UBS account from anywhere in Europe
  • Less administrative and operational effort for you and your clients
  • Easier management of your accounts receivables and reminders through simple data transfers from your accounts
  • Improved liquidity planning as incoming payments arrive on time
  • Debtors have no right of objection to authorized collections for SEPA B2B Direct Debits

Requirements

  • UBS euro account
  • Currency of collection amount: euro
  • Your clients must have an account with a bank participating in the SEPA Direct Debit scheme
  • Signed UBS declaration of consent to "SEPA Direct Debit for Creditors" (SEPA Core Direct Debit or SEPA B2B Direct Debit)
  • Valid SEPA Core Direct Debit mandate / SEPA B2B Direct Debit mandate (collection authorization) from all clients you want to collect receivables from. This authorizes you to collect amounts due from the account of the debtor. If no collections are made over a 36-month period under a recurring collection, the creditor (you) must get a new mandate
  • Use of IBAN (International Bank Account Number) and BIC (Business Identifier Code)
  • Collections must be submitted using software compatible with the SEPA Direct Debit scheme in the uniform SEPA data format in XML (ISO20022) via UBS KeyDirect or SWIFT for Corporates – FileAct to UBS or via payCOMweb to SIX Payment Services

    

SEPA Direct Debit for debtors

SEPA Direct Debit for debtors

How you benefit

  • Quick and simple payment of your single and recurring bills in euros directly via your UBS account in Switzerland
  • You no longer need to hold accounts in neighboring European countries
  • Once you've signed a SEPA Direct Debit mandate, you have nothing more to take care of
  • You save time and money, for example by no longer having to enter information separately for each payment
  • You can specify a maximum amount for permitted collections, or define exactly which creditors may debit your account
  • Creditors will advise you in advance of every debit
  • For SEPA Core Direct Debits, you have eight weeks to file an objection after your account is debited. In the event of an unauthorized collection (e.g. no mandate in place), this period is 13 months
  • The SEPA B2B Direct Debit has no objection period. However, if debits are proven to be unauthorized because there is no SEPA B2B Direct Debit mandate or it is invalid, you may file an objection within 13 months of the debit date

Requirements

  • UBS account
  • Currency of collection amount: euro
  • Signed UBS declaration of consent to "SEPA Direct Debit for Debtors" (SEPA Core Direct Debit or SEPA B2B Direct Debit). Please contact your client advisor for this, or download the declaration of consent to SEPA
  • Signed SEPA Core Direct Debit mandate / SEPA B2B Direct Debit mandate (debit authorization) for each creditor. This authorizes the creditor to collect the amounts due from your account. If no collections are made over a 36-month period under a recurring collection, the creditor must get a new mandate
  • When you conclude a SEPA B2B Direct Debit mandate, please send us the mandate data or a copy of the SEPA B2B Direct Debit mandate in good time and as agreed
  • The creditor must have an account with a bank that participates in the SEPA Direct Debit scheme
  • Use of IBAN (International Bank Account Number) and BIC (Business Identifier Code)

    

Ask us about SEPA Direct Debit

UBS Client Management Corporations will be glad to answer your questions and put you in touch with our cash management specialists. Call us at +41 (0) 844 853 002 or arrange an appointment.