diff --git a/account_banking_mandate/data/mandate_reference_sequence.xml b/account_banking_mandate/data/mandate_reference_sequence.xml
index 6a83bb8b9..34454eb34 100644
--- a/account_banking_mandate/data/mandate_reference_sequence.xml
+++ b/account_banking_mandate/data/mandate_reference_sequence.xml
@@ -5,5 +5,6 @@
         <field name="code">account.banking.mandate</field>
         <field name="prefix">BM</field>
         <field name="padding" eval="7" />
+        <field name="company_id" eval="False" />
     </record>
 </odoo>
diff --git a/account_banking_mandate/models/account_banking_mandate.py b/account_banking_mandate/models/account_banking_mandate.py
index 6eea0682e..4eb898ddf 100644
--- a/account_banking_mandate/models/account_banking_mandate.py
+++ b/account_banking_mandate/models/account_banking_mandate.py
@@ -60,7 +60,7 @@ class AccountBankingMandate(models.Model):
         required=True,
         default=lambda self: self.env.company,
     )
-    unique_mandate_reference = fields.Char(tracking=10, copy=False)
+    unique_mandate_reference = fields.Char(tracking=10, copy=False, default="/")
     signature_date = fields.Date(
         string="Date of Signature of the Mandate",
         tracking=50,
@@ -176,8 +176,8 @@ class AccountBankingMandate(models.Model):
     @api.model_create_multi
     def create(self, vals_list):
         for vals in vals_list:
-            unique_mandate_reference = vals.get("unique_mandate_reference")
-            if not unique_mandate_reference or unique_mandate_reference == "New":
+            unique_mandate_reference = vals.get("unique_mandate_reference", "/")
+            if unique_mandate_reference == "/":
                 vals["unique_mandate_reference"] = (
                     self.env["ir.sequence"].next_by_code("account.banking.mandate")
                     or "New"
diff --git a/account_banking_mandate/tests/test_mandate.py b/account_banking_mandate/tests/test_mandate.py
index c8f80cb03..4862738da 100644
--- a/account_banking_mandate/tests/test_mandate.py
+++ b/account_banking_mandate/tests/test_mandate.py
@@ -124,9 +124,8 @@ class TestMandate(TransactionCase):
 
     def test_mandate_reference_03(self):
         """
-        Test case: create a mandate with "New" as reference
-        Expected result: the reference of the created mandate is not empty and
-        is not "New"
+        Test case: create a mandate with "TEST" as reference
+        Expected result: the reference of the created mandate is "TEST"
         """
         bank_account = self.env.ref("account_payment_mode.res_partner_12_iban")
         mandate = self.env["account.banking.mandate"].create(
@@ -134,15 +133,32 @@ class TestMandate(TransactionCase):
                 "partner_bank_id": bank_account.id,
                 "signature_date": "2015-01-01",
                 "company_id": self.company.id,
-                "unique_mandate_reference": "New",
+                "unique_mandate_reference": "TEST",
             }
         )
         self.assertTrue(mandate.unique_mandate_reference)
-        self.assertNotEqual(mandate.unique_mandate_reference, "New")
+        self.assertEqual(mandate.unique_mandate_reference, "TEST")
+
+    def test_mandate_reference_04(self):
+        """
+        Test case: create a mandate with "/" as reference
+        Expected result: the reference of the created mandate is not "/"
+        """
+        bank_account = self.env.ref("account_payment_mode.res_partner_12_iban")
+        mandate = self.env["account.banking.mandate"].create(
+            {
+                "partner_bank_id": bank_account.id,
+                "signature_date": "2015-01-01",
+                "company_id": self.company.id,
+                "unique_mandate_reference": "/",
+            }
+        )
+        self.assertTrue(mandate.unique_mandate_reference)
+        self.assertNotEqual(mandate.unique_mandate_reference, "/")
 
     def test_mandate_reference_05(self):
         """
-        Test case: create a mandate with False as reference
+        Test case: create a mandate without reference
         Expected result: the reference of the created mandate is not empty
         """
         bank_account = self.env.ref("account_payment_mode.res_partner_12_iban")
@@ -151,23 +167,6 @@ class TestMandate(TransactionCase):
                 "partner_bank_id": bank_account.id,
                 "signature_date": "2015-01-01",
                 "company_id": self.company.id,
-                "unique_mandate_reference": False,
-            }
-        )
-        self.assertTrue(mandate.unique_mandate_reference)
-
-    def test_mandate_reference_06(self):
-        """
-        Test case: create a mandate with a empty string as reference
-        Expected result: the reference of the created mandate is not empty
-        """
-        bank_account = self.env.ref("account_payment_mode.res_partner_12_iban")
-        mandate = self.env["account.banking.mandate"].create(
-            {
-                "partner_bank_id": bank_account.id,
-                "signature_date": "2015-01-01",
-                "company_id": self.company.id,
-                "unique_mandate_reference": "",
             }
         )
         self.assertTrue(mandate.unique_mandate_reference)
diff --git a/account_banking_mandate/views/account_banking_mandate_view.xml b/account_banking_mandate/views/account_banking_mandate_view.xml
index ebde21253..5b2335e90 100644
--- a/account_banking_mandate/views/account_banking_mandate_view.xml
+++ b/account_banking_mandate/views/account_banking_mandate_view.xml
@@ -50,7 +50,7 @@
                             <field
                                 name="unique_mandate_reference"
                                 class="oe_inline"
-                                readonly="1"
+                                attrs="{'readonly': [('id', '!=', False)]}"
                             />
                         </h1>
                     </div>