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What to be aware of as an entrepreneur when a payment counterparty switches banks?

When your payment counterparty (customer or payee, e.g. your employee) appeals to the Bank switching service to switch banks, the service will let you know.

 

When do I receive notifications of a bank switch?

 
  • The payment counterparty pays your invoices by active direct debit;  
  • You are e.g. an employer or benefit agency and you regularly transfer money to the payment counterparty's account.
 

Content of the notification

 

The notification contains:

  • The new and previous account number;
  • The bank transfer date;
  • The mandate reference in the case of direct debit transfers;
  • The name of the new account in case of recurrent transfers;
  • A copy of the request form signed by the payment counterparty.
 

How do I receive notifications?

 
  • You will automatically receive notifications by letter if you do not specify a digital channel.
  • If you prefer to receive them digitally, you can register by sending an email to info@bankswitching.be. This offers many advantages. You receive the notifications earlier, the transmission is secure, the notifications automatically reach the right service, etc.
 

You can find more info about the technical specifications here (only in Dutch/French).

 

Questions?

If you have any further questions, do not hesitate to contact us via info@bankswitching.be

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