SEPA Mandate via TransferWise

If you do not have a SEPA-compatible bank account with euros as your currency, you can create a multi-currency account with our partner TransferWise and use it for SEPA Direct Debit.

Using TransferWise for SEPA Direct Debit

This How To article helps you to set up a TransferWise Multi-Currency Account that you can use to enable CHANCEN to collect money from you via SEPA Direct Debit.

  • TransferWise is available in most countries and does not require a European residency in order to be able to get European bank details.
  • Besides that, you are able to convert money from nearly any currency into Euro at very fair rates.

If you use this link to create a TransferWise Account, CHANCEN gets a commission. However, we only recommend TransferWise because they are the easiest and cheapest option known to us to get a SEPA direct debit bank account with a balance in Euro if you live abroad.

You can expand the screenshots provided in this article by clicking on them.

Step 1

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  • Create a Multi-Currency-Account with our partner TransferWise
  • The Account is free, you only pay for currency exchange (see pricing)
  • Now select that it is a personal account and enter your email address and password

Step 2

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  • after verifying your email address you are asked what you want to do next
  • you can decide that later

Step 3

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  • now you are asked whether you want to transfer money
  • you can close this window (top right)

Step 4

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  • you are redirected into your dashboard
  • on the left side you can create balances
  • click “Get started”

5

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  • you can now get more information
  • simply hit “Let’s go”

Step 6

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  • Provide your personal details
  • Click save

Step 7

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  • You now need to verify your mobile phone number
  • Put in the verification code received via SMS and continue

Step 8

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  • Your EUR balance is now being created

Step 9

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  • On the left, you can now see your currency balances
  • Click the EUR balance
  • Now you can initiate to get your bank details by clicking the arrow down (top right)
  • Then click “Get bank details”

Step 10

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  • In order to get your bank details, you need to transfer money into your account
  • Choose to add EUR as currency and put in the amount you want to add to your account
  • Select the Currency you transfer the money in
  • The fees are transparently being calculated
  • Hit “Next”

Step 11

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  • Now you can decide how to transfer the money into your TransferWise EUR-Balance
  • Manual transfer from your bank account is in general the cheapest option

Step 12

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  • select the bank owner
  • and select the type of bank transfer you are doing

Step 13

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  • you now get the bank details and payment reference to transfer your money to

Step 14

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  • you can now choose an option to verify your identity
  • after that you’ll be done for now

Step 15

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  • Once the money has successfully been transferred to your TransferWise EUR-Balance you will be able to generate the bank details of your EUR-Balance
  • Please make sure to select a Belgian IBAN
  • From now on, you can always access your bank details via logging in to TransferWise, then clicking on your EUR balance on the left, expanding the bank details and there you are – your SEPA-ready IBAN!

Step 16

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  • Now log in to the CHANCEN Portal
  • On the bottom, you can grant a new mandate

Final step!

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  • Now provide the Country your IBAN is from (Belgium)
  • And paste the IBAN from your TransferWise EUR balance
  • Hit continue to grant the mandate

Great – now you are done!

From now on you just need to make sure to always have a proper balance in your TransferWise EUR balance so that we can deduct your payments.

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