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Direct Debit

Direct debit makes transfers easier

When you fill in our online application form, you can opt to tick the SEPA Direct Debit Mandate.
 
Once you have opened your Izola Saver account, you can use the SEPA (Single European Payment Area) direct debit to send funds to your Izola Saver account quickly and easily.
 
By signing a SEPA direct debit mandate, you will authorise Izola Bank to send a direct debit request to your principal bank to debit your account there and transfer funds to your Izola Saver account. Once this has been set up for you, you need only to enter the amount you wish to transfer from your principal bank account and confirm that transaction on the Izola Saver website. We will do the rest. There is no charge for this transfer.

 

Direct debit made easy

  1. If you opt to set up this SEPA direct debit, when you visit the Izola Saver website you simply go to ‘Transfer into Izola Saver Account’ under the ‘Transfer Money’ tab and enter the amount you wish to transfer from your principal bank account to your Izola Saver account and confirm the transaction.
  2. Izola will then send a direct debit request to your principal bank to transfer the funds to your Izola Saver account. There is no charge for this transfer.
  3. As an Izola Saver client you also have access to the Izola Saver App available for mobiles and tablets on iOS and Android platforms. The SEPA direct debit becomes very useful because it allows you to transfer funds from your principal bank account to your Izola Saver account from your phone. Once you have logged in, you can click on ‘Transfer into Izola Saver’ enter the amount you wish to transfer to your Izola Saver account and confirm the transaction. Easy!

 

There’s a SEPA rule to remember

If you use this direct debit method to transfer an amount into your Izola Saver account, you must allow nine weeks before you can transfer the equivalent amount out of your Izola Saver account again for whatever reason. Essentially, the amount that is transferred by direct debit is blocked in your Izola Saver account for the 9 week period. This is due to SEPA direct debit terms and conditions. So do bear this in mind if you think you might need the funds at short notice.