This article is about: Setting up different Bank accounts for PostFinance and LSV+ System to ensure, the correct SEPA mandate is used for the customer.
Table of contents:
- Overview of Swiss Direct Debit Mandates
- Steps to Configure the Special Format
- Important Settings to Note
Fast lane:
- Navigate to Settings / Finance / Studio bank
- Create studio bank account
- Assign the Bank accounts for collection
- Save Changes and ensure that the setup applies to all relevant customer profiles.
Overview of Swiss Direct Debit Mandates
In Switzerland, direct debit mandates may require a special format that complies with local banking regulations. This setup ensures that transactions are processed correctly and meet all Swiss banking standards, especially for commercial or business-related direct debits.
The two systems LSV+ for direct debits from private bank accounts and CH-DD for direct debits from PostFinance accounts are available for direct debit collections. To be able to use direct debit collections, you must have an activated account with a private bank or PostFinance for the respective system.
With the activation of direct debit collections in Switzerland, corresponding direct debit mandates were also implemented, which consider the respective special features for both collection systems (LSV+ and CHDD). Magicline automatically creates the correct mandate depending on the member's bank account.
Steps to Configure the Special Format
To configure the direct debit mandate in Magicline:
- Access Payment Settings: Navigate through the Magicline menu by selecting Settings and then Finance / Studio bank
- Create studio bank account: Once in the payment settings, locate the options for direct debit mandates and choose the format specific to Switzerland.
- Input Mandate Details: Make sure to fill out the necessary fields, such as Bank account holder and IBAN
- the Swiss IBAN will trigger the additional fields like RS-PID for PostFinance or LSV Ident depending on the type of Bank account IBAN
- Save and Apply Changes: Confirm the settings and ensure that they are applied to the customer profiles that require this mandate.
PostFinance account input mask
LSV account input mask
Assign the Bank accounts accordingly using the three-dot menu on the right-hand side:
Important Settings to Note
- IBAN vs. Bank Account: Ensure that customer profiles have the correct IBAN information, as this is a requirement in Switzerland.
- Mandate Type: Verify that you are using the appropriate mandate type (e.g., for businesses or individuals).
- Automatic Updates: The system should automatically update the mandate format for future transactions once configured.