(Version 2.0 | 5 October 2026)
This addendum (“Addendum”) governs the use of the “Personal IBAN” service (“IBAN Service”) and supplements the General terms and conditions for the "Satispay Consumer" service in force between you and Satispay Europe S.A. (“Agreement”).
All terms not otherwise defined in this Addendum shall have the meanings given to them in the Agreement. In case of conflict between the provisions of the Agreement and this Addendum, the latter shall prevail.
The IBAN Service consists of the assignment of a unique Luxembourg International Bank Account Number (“IBAN”), starting with “LU”, associated with your Account. This enables you, based on the specific functions and instructions made available to you in the App, to:
The availability of these features may be subject to ongoing development and phased rollout schedules. The IBAN Service shall be considered a "Service" for the purposes of the Agreement.
For the purposes of the Agreement, SCTs and SDD Core collections executed under this Addendum shall be treated as “Transactions”, except where the context requires otherwise.
By using the IBAN Service, you will be able to:
An outgoing Instant SCT can only be initiated where the payee’s payment service provider is reachable for Instant SCTs and the outgoing SCT is eligible for instant execution. Before you authorise the SCT, the App will show whether it can be sent as an Instant SCT or only as a Standard SCT. Where an Instant SCT is not available, you may decide whether to proceed with a Standard SCT.
Each SCT and SDD Core collection under the IBAN Service must be authorised by you in the manner applicable to it, in accordance also with the relevant instructions in the App.
An outgoing SCT is authorised when you confirm the payment order in the App. Before confirmation, the App will show whether the SCT will be sent as a Standard SCT or an Instant SCT and the expected execution time. An SCT payment order may be revoked only within the time limits permitted by applicable law. Once it has become irrevocable, you can no longer cancel it. If it has already been executed, you may ask Satispay to attempt to recover it, but recovery is not guaranteed and may depend on the applicable payment scheme rules, the availability of the funds and, where applicable, the payee’s consent.
Before you are given the opportunity to authorise an outgoing SCT, Satispay will check that the IBAN provided matches the name of the beneficiary and notify you in case of a mismatch between the provided information. If you authorise an SCT after being informed that the name you provided does not match, or does not closely match, the name associated with the payee’s IBAN, the SCT may be sent to an account other than the one you intended. Satispay may not be liable for the resulting incorrect execution to the extent permitted by applicable law and the Agreement.
An SDD Core payment is authorised where you have granted a mandate to the relevant creditor authorising that creditor to initiate SDD Core collections and Satispay to debit your Account in accordance with that mandate. The mandate is granted to and managed with the relevant creditor; information relating to the mandate may be made available to you in the App when we receive an SDD Core collection. Any instructions you give Satispay to block SDD Core collections are separate from the underlying mandate and are subject to the controls made available to you under clause 8 below.
Satispay does not currently charge any fees for using the IBAN Service to send or receive SCTs or to make payments by SDD Core. Where a specific service or request may be subject to a fee, we will inform you of the applicable fee before you request or authorise it, in accordance with the Agreement and applicable law.
You may schedule an SCT for a future date and/or set up recurring SCTs following the relevant instructions in the App, specifying the amount, execution date or frequency, payee and, where available, whether you want the SCT to be executed as a Standard SCT or an Instant SCT.
If you select Instant for a scheduled or recurring SCT, we will assess at each scheduled execution whether the SCT can be executed as an Instant SCT. If it cannot be processed as an Instant SCT, we will execute it as a Standard SCT only where you have expressly agreed to this when setting up the scheduled or recurring instruction. Otherwise, that occurrence will not be executed and we will inform you.
If an Instant SCT has already been submitted for execution and is not executed, we will not automatically resubmit it as a Standard SCT. If you still wish to make that SCT, you will need to submit a new payment order.
If the available balance in your Account is insufficient to execute a scheduled or recurring SCT at the scheduled execution time, or the SCT cannot be executed because your Account or the relevant payment functionality is suspended, blocked or restricted, that SCT will not be executed and we will inform you where permitted by applicable law. Satispay will not automatically retry the missed SCT. For recurring SCTs, the recurring instruction will remain active for subsequent scheduled execution dates unless you cancel it or we inform you otherwise.s.
Payment orders for outgoing Standard SCTs received before 2 p.m. (CET/CEST) on a banking day are processed the same day. Payment orders received after 2 p.m. (CET/CEST), or on a non-banking day, are treated as received on the following banking day. The funds will be credited to the payee’s payment service provider by the end of the banking day following the day on which the payment order is treated as received in accordance with this clause. The payee’s payment service provider is then responsible for making the funds available to the payee in accordance with applicable law. For the purpose of this Addendum, a “banking day” means a day on which the relevant payment systems are operational for the processing of Standard SCTs.
Instant SCTs are processed 24 hours a day, seven days a week, including weekends and public holidays. For an outgoing Instant SCT, where the payment order is successfully executed, the funds will be made available in the payee’s payment account within 10 seconds from the time Satispay receives your payment order. Immediately after receiving confirmation of completion, we will inform you through the App whether the amount has been made available on the payee’s payment account. If we do not receive confirmation within 10 seconds from the time of receipt of the payment order, we will inform you and restore your Account in accordance with applicable law.
For an Instant SCT scheduled for a future date or time, the time of receipt is the date and time agreed with you and shown in the App.
The timing of an incoming SCT depends on when the payer’s payment service provider processes the payment order. Incoming Instant SCTs are available 24 hours a day, seven days a week, and the amount will be credited to your Account as soon as it is received, within the timeframe required by applicable law.
Clause 7 (Suspension, blocking and restrictions) of the Agreement applies to the IBAN Service. The grounds and notification principles set out in clause 9 (Refusal and Decline) of the Agreement also apply, where relevant, to SCTs and SDD Core collections under this Addendum.
A Standard SCT may be delayed where necessary to complete applicable checks, provided that the applicable execution deadlines are met.
We will not delay an Instant SCT beyond the applicable execution timeframe for the purpose of completing manual checks.
An SDD Core collection may not be executed where there are insufficient funds in your Account, where applicable limits or blocking instructions apply, or where the collection must or may be refused under the Agreement, applicable law or the SEPA Core Direct Debit rules.
For Instant SCTs, you may set a maximum amount that can be sent by Instant SCT, either per day or per transaction, at your discretion. You may modify this maximum at any time before placing an Instant SCT payment order, through the channels made available by Satispay. If an Instant SCT exceeds, or would cause you to exceed, the maximum you have set, it will not be executed and we will inform you how to modify the limit.
You may give us instructions (via App or other channels we make available to you) to:
An instruction given to Satispay to block SDD Core collections does not cancel the underlying mandate between you and the creditor. If you wish to cancel the mandate itself, you must do so with the relevant creditor.
If an SDD Core collection has been debited from your Account, you have an unconditional right to request a refund of the full amount within eight weeks from the date on which your Account was debited. You do not need to provide a reason for requesting this refund.
If you believe that an SDD Core collection was not authorised by you, you must notify us without undue delay after becoming aware of it and, in any event, no later than 13 months after the date on which your Account was debited. We will handle the claim and any refund in accordance with clause 8 of the Agreement and applicable law.
You may submit a refund or unauthorised-transaction request using the functionalities made available in the App or the contact channels specified in the Agreement.
Communication regarding the IBAN Service, including information on the availability, execution and status of SCTs and SDD Core collections, will primarily be provided through the App or other channels specified in the Agreement, as appropriate.
The most up-to-date version of this Addendum will be available in the App and on our website. You may request a copy of this Addendum at any time, which will be sent to you by email free of charge.
We may unilaterally amend the Addendum. If we need to make any amendment to this Addendum, we will notify you 60 days prior to its effective date, except where the amendments are required by law or they do not cause prejudice to your rights and obligations, in which case they will be immediately effective.
The amendment notice will explain the proposed changes and their effective date. Unless you notify us before that date that you do not accept the changes, the changes will be deemed accepted by you. If you do not accept the changes, you have the right to terminate the Agreement free of charge, as per clause 11 of the Agreement.
Termination by Satispay is governed by clause 11 of the Agreement and applicable law.
This Addendum and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation are governed by and construed in accordance with the laws of the Grand Duchy of Luxembourg, provided that the law at the place of the User’s residence or domicile may also be applied if mandatory applicable or more consumer-protective provisions are concerned.
Each party irrevocably agrees that the courts of the User’s residence or domicile shall have jurisdiction over any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this Addendum or its subject matter or formation.
