Make a deposit by SEPA Direct Debit

With SEPA Direct Debit, you sign an authorization (a mandate) only once. After that, each time you request a deposit on the Spiko platform, Spiko collects the amount directly from your bank account.

How does it work?

1. When you make your first deposit by SEPA Direct Debit, you will be asked to sign a mandate from your client area, for one of your verified bank accounts. Under the B2B scheme, your bank must register this mandate on its side before it accepts any direct debit. It is therefore important to send the mandate to your bank, otherwise the direct debit will be rejected.
2. For each deposit request, Spiko sends a direct debit request for the amount you chose to the bank account linked to the mandate. A direct debit deposit is created at the same time.
3. Once the direct debit is received, the direct debit deposit is credited to your balance.
4. Your deposit is then included in the next processing of operations, which takes place every business day for the product, and confirmed.

3-business-day return period

Even after it has been received, a direct debit can still be reversed by your bank, which then takes the funds back. Spiko therefore treats every direct debit as reversible until the end of the 3rd business day (TARGET2) after it is received. TARGET2 business days follow the calendar of banks in the euro area. They exclude weekends and TARGET2 closing days.

For example, a direct debit received on a Thursday remains reversible until the end of the following Tuesday.

Why is part of my balance blocked?

During these 3 business days, the amount of your deposit is included in your balance and earns interest from day one. However, it cannot be used on your Spiko account yet. Because your bank can still take the funds back, Spiko blocks an equivalent amount. This amount is deducted from what you can withdraw or transfer, and released automatically at the end of the period.

Prefer a bank transfer? See Make a deposit by bank transfer.