SEPA direct debit: Difference between revisions
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imported>Doug Williamson (Linked to The Treasurers Handbook - Payments and payment systems) |
imported>Doug Williamson (Link with SEPA credit transfer page.) |
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== See also == | == See also == | ||
* [[Direct debit]] | * [[Direct debit]] | ||
* [[SEPA credit transfer]] | |||
* [[Single Euro Payments Area]] | * [[Single Euro Payments Area]] | ||
* [[Straight-through processing]] | * [[Straight-through processing]] | ||
Revision as of 22:08, 23 March 2016
(SDD).
A direct debit made under the SEPA scheme rules, either within or across national boundaries within Europe, whereby one-off and repetitive payments are initiated by the payee to collect payments electronically from the debtor’s bank account based on a mandate giving pre-authorisation.
The scheme provides for mandate creation, predictable and convenient time-cycles, appropriate refund rules and the necessary features to permit end to end straight-through-processing.
