SEPA direct debit: Difference between revisions
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* [[Single Euro Payments Area]] | * [[Single Euro Payments Area]] | ||
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Revision as of 10:11, 9 October 2013
(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.
