SEPA direct debit: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson m (Category added 9/10/13) |
imported>Doug Williamson (Linked to The Treasurers Handbook - Payments and payment systems) |
||
| Line 10: | Line 10: | ||
* [[Single Euro Payments Area]] | * [[Single Euro Payments Area]] | ||
* [[Straight-through processing]] | * [[Straight-through processing]] | ||
* [[Payments and payment systems]] | |||
[[Category:Cash_management]] | [[Category:Cash_management]] | ||
Revision as of 11:26, 29 November 2014
(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.
