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Direct Debit Authorisation Form

Direct Debit Authorisation Form Template for Switzerland

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Key Requirements PROMPT example:

Direct Debit Authorisation Form

"I need a Swiss Direct Debit Authorisation Form for my software company that can handle both CHF and EUR recurring payments from enterprise clients, with a maximum monthly transaction limit of 50,000 CHF and specific provisions for early termination."

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Document background
The Direct Debit Authorisation Form is a fundamental document in the Swiss banking system, designed to facilitate automated payment collections in both Swiss Francs and Euros. It serves as a legal mandate that authorizes a specified creditor to initiate direct debits from the account holder's bank account. This form is essential for businesses and organizations that collect regular payments from customers or members, and it must comply with Swiss banking regulations, including the Swiss Federal Banking Act and relevant data protection laws. The document can be used for both the Swiss Direct Debit scheme (LSV+) and the SEPA Direct Debit scheme, making it versatile for domestic and European transactions. The authorization remains valid until explicitly revoked by the account holder, providing a secure and efficient method for managing recurring payments while protecting both the debtor's and creditor's interests.
Suggested Sections

1. Bank Details Section: Account holder's bank information including bank name, address, and IBAN/account number

2. Account Holder Information: Debtor's full name, address, and contact details as registered with the bank

3. Creditor Information: Details of the company/entity authorized to collect payments, including creditor ID

4. Authorization Declaration: Clear statement authorizing the direct debit arrangement and the terms of the authorization

5. Payment Details: Specification of payment type (recurring/one-off), currency (CHF/EUR), and maximum amount if applicable

6. Signature Block: Space for date, place, and legally binding signature(s) of the account holder(s)

Optional Sections

1. SEPA Specific Fields: Additional fields required for SEPA direct debits, used when EUR payments are involved

2. Mandate Reference: Optional pre-printed mandate reference number, used when the creditor pre-assigns reference numbers

3. Payment Schedule: Details of payment frequency and dates, included when payments follow a fixed schedule

4. Cancellation Rights: Detailed explanation of the account holder's right to cancel, included when required by specific creditor policies

5. Language Options: Multiple language versions on the same form, used in cases where the form needs to be multilingual

Suggested Schedules

1. Terms and Conditions: Standard terms and conditions for the direct debit service, usually printed on the reverse side or as an attachment

2. Bank Verification Form: Additional form for bank internal use to verify account details and signatures

3. Direct Debit Rules Summary: Summary of LSV+ or SEPA direct debit rules and customer rights, typically provided as an information sheet

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Banking and Financial Services

Insurance

Utilities

Telecommunications

Property Management

Subscription Services

Education

Healthcare

Professional Services

Retail

Non-Profit Organizations

Government Services

Relevant Teams

Finance

Accounts Receivable

Treasury

Legal

Compliance

Customer Service

Operations

Credit Control

Banking Operations

Payment Processing

Relevant Roles

Finance Manager

Accounts Receivable Manager

Billing Coordinator

Treasury Manager

Payment Services Manager

Compliance Officer

Legal Counsel

Customer Service Manager

Operations Manager

Banking Relationship Manager

Financial Controller

Credit Control Manager

Industries
Swiss Federal Banking Act (Banking Act): Fundamental legislation governing banking activities in Switzerland, including payment services and requirements for financial transactions
Swiss Federal Data Protection Act (FDPA): Regulates the processing of personal data by private persons and federal bodies, crucial for handling customer information in direct debit arrangements
Swiss Code of Obligations (OR): Contains general contract law provisions that apply to the direct debit mandate relationship between the bank, payer, and payee
SIX Rulebook for LSV+ (Swiss Direct Debit): Technical and operational rules for the Swiss Direct Debit system (LSV+) established by SIX Group, including mandatory form requirements
SEPA Direct Debit Rulebook: Applicable for EUR-denominated direct debits, providing rules and requirements for SEPA direct debit mandates in Switzerland
Swiss Financial Market Infrastructure Act (FMIA): Regulates the organization and operation of financial market infrastructures, including payment systems
Swiss Anti-Money Laundering Act (AMLA): Requirements for customer identification and documentation in financial transactions, including direct debit arrangements
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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