The direct debit mandate at a glance
The direct debit mandate is the cornerstone of the European direct debit system. The debtor completes the mandate and sends it to the recipient, rather than to their bank.
- Recipient's details.
- Debtor's details.
- Debtor's BIC (Bank Identifier Code, i.e. the code used to identify a bank within the European payments system).
- Debtor's IBAN (International Bank Account Number, i.e. the account number made up of alphanumeric characters given to an account within the European payment system).
- Date and signature of debtor.
- European reference number for the mandate (completed by the recipient).
- Type of direct debit: one-off or recurring.
- A clear reference to the underlying contract.
Differences from the existing direct debit mandate
- Addition of the European reference number.
- Accounts identified by IBAN.
- Reference to the underlying contract.
- Note of whether the payment is a one-off or recurring transaction.