SEPA Direct Debit at UBS

November 2009 saw the launch of cross-border SEPA direct debits. From the outset, we have been on hand to support both SEPA Core Direct Debit and SEPA Business-to-Business (B2B) Direct Debit. The SEPA B2B Direct Debit is subject to shorter periods, does not offer the right of revocation and may only be applied between respective businesses.

Thanks to these services, you can collect your euro receivables within SEPA more easily and pay your bills from within SEPA in a convenient and reliable manner.

SEPA Direct Debit - debit payments

Application
If you buy goods or services from the Single Euro Payments Area (SEPA) - either on a single occasion or on a regular basis - and want a simple and efficient way to pay for them, the SEPA Direct Debit can ensure that your euro payments (e.g. regular payments for services, your vacation home or one-off payments for your purchases in another European country) are executed reliably and on time.

Major advantages

  • Single and recurrent bills in euros are paid simply and quickly via your UBS account in Switzerland.
  • You no longer need to hold an account in neighboring European countries.
  • Once you've signed a SEPA Direct Debit mandate, you have nothing left to worry about.
  • When you conclude a SEPA B2B Direct Debit mandate, you should also submit the mandate to us for entry purposes.
  • You save time and money by, for example, no longer having to enter information separately for each payment.
  • You can specify a maximum amount for permitted collections or define which creditors are allowed to debit your account.
  • In the case of a SEPA Core Direct Debit, you have eight weeks to file an objection after your account is debited. In the case of an unauthorized collection (e.g. no mandate in place), this period is 13 months.
  • The SEPA B2B Direct Debit is not subject to an eight-week objection period. However, in the case of an unauthorized collection, you also have a period of 13 months in which to return the debit.
  • Creditors advise you in advance of every debit.

Requirements

  • UBS account.
  • Signed UBS declaration of consent to "SEPA Direct Debit for debtors" (SEPA Core or B2B Direct Debit). To participate, your account must be activated a single time. To do this, please contact your client advisor or download the UBS declaration of consent to SEPA directly.
  • Signed SEPA Core Direct Debit mandate / SEPA B2B Direct Debit mandate (debit authorization) for each creditor. This authorizes the creditor to collect the amount due from your account. The mandate is valid for an unlimited period until revoked by you.
  • The creditor must have an account with a bank that participates in the SEPA Direct Debit system.
  • Currency: euro.
  • Use of IBAN (International Bank Account Number) and BIC (Business Identifier Code).

Further information

Alternative products

SEPA Direct Debit - incoming payments

Application
Do you have clients in neighboring European countries and would like to collect your single or recurring euro receivables in an efficient manner? Since November 2009, thanks to uniform processing and data format standards and on the basis of a common legal framework, this has been possible with SEPA Direct Debit.

Do you deal exclusively with commercial clients? If so, you can also use the SEPA B2B Direct Debit, which is subject to shorter periods and does not offer the right of revocation.

Major advantages

  • Low-cost collection of single or recurring euro receivables on a UBS account from anywhere in Europe.
  • Uniform and clear processes, deadlines and obligations cut administrative and operational expenditure for you and your clients.
  • Simply by extracting the data you need from your accounts receivable software, you can more easily control receipts and send reminders.
  • Improved cash flow planning as incoming payments arrive on time. Amount and date of each incoming payment are known in advance.
  • SEPA B2B Direct Debits cannot be returned and is irrevocable within two days after the value date.

Requirements
To be able to use SEPA direct debit, you need:

  • UBS euro account.
  • Your clients need to have an account with a bank that participates in the SEPA direct debit system.
  • Signed UBS declaration of consent to SEPA Direct Debit for creditors (SEPA Core Direct Debit / SEPA B2B Direct Debit).
  • Valid SEPA Core Direct Debit mandate / SEPA B2B Direct Debit mandate (direct debit authorization) from all of your clients from whom you want to be able to collect receivables. This authorizes you to collect the due amount from the account of the debtor. The mandate is valid for an unlimited period until it is revoked by the debtor.
  • Currency: euro.
  • Use of IBAN (International Bank Account Number) and BIC (Business Identifier Code).
  • Business software with a SEPA Direct Debit interface (standard XML-based SEPA data format).
  • Business software with a UBS KeyDirect and SEPA Direct Debit interface, or access to payCOMweb for the purpose of forwarding the collection file.

Further information

Alternative product
Stating your UBS account number (IBAN, BIC) when sending bills to clients within SEPA.