Payment mandates

For account funding, the Swan account holder or eligible account member gives Swan explicit permission to pull money from their non-Swan account. For SEPA Direct Debit B2B the signed payment mandate or payment mandate information must be declared to the user's non-Swan banking institution.

Consenting to the direct debit mandate updates the status to Enabled for both the mandate and the funding source.

Signing payment mandates

The Swan account holder or eligible account member consents to the account funding source payment mandate through Strong Customer Authentication (SCA). Swan takes the SCA validation time as the signatureDate for the payment mandate.

Payment mandate statuses

The full payment mandate status machine, with the diagram and every status definition, lives on account funding statuses.