General Information

SEPA Direct Debit

SEPA (Single Euro Payments Area) has ushered in new, uniform procedures and standards in European electronic and card-based payment transactions.

From November 2, 2009, Credit Suisse will offer the SEPA Direct Debit procedure for debtors (payers).


This procedure enables you to make cross-border payments for goods and services in euros in EU/ EEA countries and Switzerland via direct debit from your Credit Suisse account.

The creditor's (payee's) financial institution must also offer SEPA Direct Debit for the creditor. Each financial institution and creditor decides individually about whether to use SEPA Direct Debit.

You can find a list of participating financial institutions here (European Payments Council).

Benefits at a Glance

  • Convenient payments in EUR throughout Europe via direct debit from your account at Credit Suisse.
    For instance, you can pay bills for your vacation home in another European country directly from your Credit Suisse account – so there's no need to hold an account abroad.
  • Both one-time and recurrent direct debits with various amounts are possible. This means, for example, that you can also pay for one-time purchases via direct debit.
  • You have the right to raise an objection:
    - Within 8 weeks after the debit date without having to provide reasons
    - Within13 months after the debit date if the direct debit was unauthorized (e.g. lack of a SEPA Direct Debit Mandate).
  • Credit Suisse does not levy a fee for collection

How It Works

Upon or after purchasing goods or services, you sign a SEPA Direct Debit mandate (collection and debit authorization) in favor of the provider (creditor); together with your details, this mandate authorizes the creditor to collect the amount owed via its financial institution.

A written agreement must first be concluded with Credit Suisse to ensure collections are debited from one of your accounts. This agreement exists between you and Credit Suisse, and is independent of the SEPA Direct Debit mandates between you and the creditors. If you do not conclude an agreement with Credit Suisse, your account will not be activated for collection of direct debits based on SEPA Direct Debit mandates.

Please download the SEPA Direct Debit Application form here, fill it in and send it to the following address:

Service Center, CIF Data Management, CH-8070 Zurich.

Your advisor will also be happy to answer any questions you may have.

For detailed information on how the SEPA Direct Debit procedure works, please refer to the SEPA Direct Debit Fact Sheet PDF (260 KB).

Summary of the main standards for SEPA Direct Debit:

  • Bilateral mandate between the creditor and the debtor
  • Collection currency: EUR
  • IBAN (International Bank Account Number) required
  • BIC (Bank Identifier Code) required
  • Collection is announced in advance by the creditor
  • Rights to raise an objection

Secondary Content

Advice and Contact