diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6d9f936ac08..dc7cc885485 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,9 @@
 
 ## XX.XX.XX - 2023-XX-XX
 
+### PaymentSheet
+* [FIXED][](https://github.com/stripe/stripe-android/pull/) Fixed an issue where SEPA mandate texts were being displayed to payment method forms when they shouldn't be.
+
 ## 20.30.0 - 2023-09-11
 
 ### PaymentSheet
diff --git a/paymentsheet/src/main/java/com/stripe/android/paymentsheet/forms/PlaceholderHelper.kt b/paymentsheet/src/main/java/com/stripe/android/paymentsheet/forms/PlaceholderHelper.kt
index 5065cc9b439..ed6986d587c 100644
--- a/paymentsheet/src/main/java/com/stripe/android/paymentsheet/forms/PlaceholderHelper.kt
+++ b/paymentsheet/src/main/java/com/stripe/android/paymentsheet/forms/PlaceholderHelper.kt
@@ -39,7 +39,6 @@ internal object PlaceholderHelper {
             PlaceholderField.Email,
             PlaceholderField.Phone,
             PlaceholderField.BillingAddress,
-            PlaceholderField.SepaMandate,
         )
 
         val modifiedSpecs = specs.mapNotNull {
@@ -61,10 +60,6 @@ internal object PlaceholderHelper {
                     configuration.address == AddressCollectionMode.Never
                 }
 
-                is SepaMandateTextSpec -> it.takeIf {
-                    requiresMandate
-                }
-
                 is PlaceholderSpec -> specForPlaceholderField(
                     it.field,
                     placeholderOverrideList,
diff --git a/paymentsheet/src/test/java/com/stripe/android/paymentsheet/forms/PlaceholderHelperTest.kt b/paymentsheet/src/test/java/com/stripe/android/paymentsheet/forms/PlaceholderHelperTest.kt
index 96612b8e089..9a3e358665a 100644
--- a/paymentsheet/src/test/java/com/stripe/android/paymentsheet/forms/PlaceholderHelperTest.kt
+++ b/paymentsheet/src/test/java/com/stripe/android/paymentsheet/forms/PlaceholderHelperTest.kt
@@ -40,7 +40,6 @@ class PlaceholderHelperTest {
                 EmailSpec(),
                 PhoneSpec(),
                 AddressSpec(),
-                SepaMandateTextSpec(),
             ),
         )
         assertThat(specs).isEmpty()
@@ -109,6 +108,54 @@ class PlaceholderHelperTest {
         )
     }
 
+    @Test
+    fun `Test when requiresMandate is true, SepaMandateSpec is only added when specified`() {
+        val specs = specsForConfiguration(
+            configuration = PaymentSheet.BillingDetailsCollectionConfiguration(),
+            placeholderOverrideList = emptyList(),
+            requiresMandate = true,
+            specs = listOf(
+                NameSpec(),
+            ),
+        )
+
+        assertThat(specs).containsExactly(
+            NameSpec(),
+        )
+
+        val specsWithSepa = specsForConfiguration(
+            configuration = PaymentSheet.BillingDetailsCollectionConfiguration(),
+            placeholderOverrideList = emptyList(),
+            requiresMandate = true,
+            specs = listOf(
+                NameSpec(),
+                SepaMandateTextSpec()
+            ),
+        )
+
+        assertThat(specsWithSepa).containsExactly(
+            NameSpec(),
+            SepaMandateTextSpec()
+        )
+
+        val specsWithSepaPlaceholder = specsForConfiguration(
+            configuration = PaymentSheet.BillingDetailsCollectionConfiguration(),
+            placeholderOverrideList = emptyList(),
+            requiresMandate = true,
+            specs = listOf(
+                NameSpec(),
+                PlaceholderSpec(
+                    field = PlaceholderSpec.PlaceholderField.SepaMandate,
+                )
+            ),
+        )
+
+        assertThat(specsWithSepaPlaceholder).containsExactly(
+            NameSpec(),
+            SepaMandateTextSpec()
+        )
+    }
+
     @Suppress("LongMethod")
     @Test
     fun `Test correct spec is returned for placeholder fields`() {
@@ -160,6 +207,14 @@ class PlaceholderHelperTest {
                 configuration = billingDetailsCollectionConfiguration,
             )
         ).isEqualTo(AddressSpec(hideCountry = true))
+        assertThat(
+            specForPlaceholderField(
+                field = PlaceholderField.SepaMandate,
+                placeholderOverrideList = emptyList(),
+                requiresMandate = true,
+                configuration = billingDetailsCollectionConfiguration,
+            )
+        ).isEqualTo(SepaMandateTextSpec())
     }
 
     @Test
@@ -222,6 +277,7 @@ class PlaceholderHelperTest {
             PlaceholderField.Email,
             PlaceholderField.Phone,
             PlaceholderField.BillingAddress,
+            PlaceholderField.SepaMandate,
         )
 
         placeholders = basePlaceholders()
@@ -230,6 +286,7 @@ class PlaceholderHelperTest {
             PlaceholderField.Name,
             PlaceholderField.Phone,
             PlaceholderField.BillingAddress,
+            PlaceholderField.SepaMandate,
         )
 
         placeholders = basePlaceholders()
@@ -238,6 +295,7 @@ class PlaceholderHelperTest {
             PlaceholderField.Name,
             PlaceholderField.Email,
             PlaceholderField.BillingAddress,
+            PlaceholderField.SepaMandate,
         )
 
         placeholders = basePlaceholders()
@@ -246,6 +304,16 @@ class PlaceholderHelperTest {
             PlaceholderField.Name,
             PlaceholderField.Email,
             PlaceholderField.Phone,
+            PlaceholderField.SepaMandate,
+        )
+
+        placeholders = basePlaceholders()
+        removeCorrespondingPlaceholder(placeholders, SepaMandateTextSpec())
+        assertThat(placeholders).containsExactly(
+            PlaceholderField.Name,
+            PlaceholderField.Email,
+            PlaceholderField.Phone,
+            PlaceholderField.BillingAddress,
         )
     }
 
@@ -257,6 +325,7 @@ class PlaceholderHelperTest {
             PlaceholderField.Email,
             PlaceholderField.Phone,
             PlaceholderField.BillingAddress,
+            PlaceholderField.SepaMandate,
         )
 
         placeholders = basePlaceholders()
@@ -268,6 +337,7 @@ class PlaceholderHelperTest {
             PlaceholderField.Name,
             PlaceholderField.Phone,
             PlaceholderField.BillingAddress,
+            PlaceholderField.SepaMandate,
         )
 
         placeholders = basePlaceholders()
@@ -279,6 +349,7 @@ class PlaceholderHelperTest {
             PlaceholderField.Name,
             PlaceholderField.Email,
             PlaceholderField.BillingAddress,
+            PlaceholderField.SepaMandate,
         )
 
         placeholders = basePlaceholders()
@@ -290,6 +361,7 @@ class PlaceholderHelperTest {
             PlaceholderField.Name,
             PlaceholderField.Email,
             PlaceholderField.Phone,
+            PlaceholderField.SepaMandate,
         )
 
         placeholders = basePlaceholders()
@@ -301,6 +373,19 @@ class PlaceholderHelperTest {
             PlaceholderField.Name,
             PlaceholderField.Email,
             PlaceholderField.Phone,
+            PlaceholderField.SepaMandate,
+        )
+
+        placeholders = basePlaceholders()
+        removeCorrespondingPlaceholder(
+            placeholders,
+            PlaceholderSpec(field = PlaceholderField.SepaMandate)
+        )
+        assertThat(placeholders).containsExactly(
+            PlaceholderField.Name,
+            PlaceholderField.Email,
+            PlaceholderField.Phone,
+            PlaceholderField.BillingAddress,
         )
     }
 
@@ -383,5 +468,6 @@ class PlaceholderHelperTest {
         PlaceholderField.Email,
         PlaceholderField.Phone,
         PlaceholderField.BillingAddress,
+        PlaceholderField.SepaMandate,
     )
 }