Operating Model:
Operating Model:

Mandate Setup

Mandates are a prerequisite for funding by direct debit (can be considered a power of attorney). Via a mandate, a user authorises Upvest to collect payments on their behalf.


The mandate is created in accordance with SEPA Core regulation, the European standard. Currently, SEPA direct debit is the only supported funding method on our Investment API.


Soon your users will also be able to fund their cash balance with additional funding methods, such as SEPA credit transfers.

How mandate creation works

Before a mandate creation request can be triggered, the user must be presented with the mandate details in order to review them. Mandate information which should be present include:

  1. User personal data: including full name and address. This can be retrieved by calling GET /users/{user_id}.
  2. Creditor (Upvest) information: This will be provided to you during your onboarding process.

After reviewing the contents of the mandate, the user must explicitly authorise Upvest to collect funds on his behalf. Authorisation can be given in the form of a checkbox in which the user confirms the verification of the mandate. The responsibility for the validity of a mandate lies with you, the client.

How to implement mandates


Before any mandate can be set up, we require that a user is onboarded and active on the Upvest platform.

Creating a validated mandate

Once the user’s bank account details have been collected and a mandate is authorised, you can trigger a mandate creation request with POST /payments/mandates including a confirmed_at value. Any additionally required mandate data is populated by Upvest.

Example request:

  "user_id": "83d83ec2-d2ca-49ff-bbea-b92b5c3be202",
  "iban": "DE89000000000000000000",
  "bic": "ABCDEXXX",
  "confirmed_at": "2021-12-08T08:38:48.021Z"

  • IBAN used for a user's mandate can differ from a user's reference bank account.
  • All created mandates will be assigned type recurring.

Next steps

Now you are ready to jump into triggering direct debit funding.

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