*Available in France only
SEPA Direct Debit is a European-wide direct debit system that allows businesses to collect payments from customers' bank accounts in Euro within the Single Euro Payments Area (SEPA).
On Shares Pro, SEPA direct debit allows funds needed for your Investment Plans to be automatically debited, without manual intervention.
Who can set up a SEPA DD for their client?
For new clients onboarded on and after 01/05/2025:
SEPA Direct Debit is available for all these clients from all Wealth Managers and can be set up during the account creation process. Once set up, it becomes the default payment method for the client’s account. For step-by-step instructions, please refer to this article: How to set up SEPA Direct Debit on the Shares Pro platform?
For existing clients onboarded before 01/05/2025:
SEPA Direct Debit is also available for clients who did not sign the SEPA mandate during onboarding. It can be set up in the Cash section of the web platform. To switch from regular bank transfer to SEPA Direct Debit, please refer to this article: How to set up SEPA Direct Debit for clients onboarded before May 2025 on Shares Pro?
How SEPA DD works on Shares Pro?
SEPA Direct Debit Authorisation: During the account creation process, the client approves their account and authorises SEPA Direct Debit payments by signing the SEPA mandate. This single step grants permission to debit the client's bank account for future investment amounts.
Plan Creation: The Wealth Manager creates an Investment Plan and sets the Billing Date — this is the date when the funds will be debited from the client’s bank account via SEPA DD.
Plan Approval: The client reviews and approves the Plan.
Payment Collection: On the Billing Date, the authorised investment amount is debited from the client’s bank account.
Plan Execution: Once the funds are received and the market is open, the Plan is executed, and the investments are made.
Key Features of SEPA DD on Shares Pro
Automatic Payments: Once SEPA Direct Debit is set up and authorised by the client, the funds are debited directly from the client’s bank account on the billing date.
Support for Personal and Business Accounts and PEA: SEPA Direct Debit is available for personal, business accounts, for both CTO and PEA on Shares Pro.
Default payment method: Once SEPA Direct Debit is enabled for a client, it becomes the default payment method for their account, and cash deposited via regular bank transfer is no longer used for funding their investments.
Authorisation: Clients must sign the SEPA Direct Debit mandate during the account creation process to authorise Shares to initiate payments for both CTO and PEA accounts.
Notification: Clients will receive a notification before each transaction.
Revoking Authorisation: Clients can revoke SEPA Direct Debit authorisation by contacting their bank or Shares. This can be done up to 3 business days before the next execution date.