SEPA-Transfer

SEPA Direct Debit and Bank Transfers

SEPA Direct Debit: How Does It Work?

The SEPA direct debit procedure is very simple. We'll show you how!

  1. To create a SEPA direct debit, you need a valid SEPA mandate. Here, our SEPA Transfer solution provides you with preformatted templates. You can simply print these with the deposited data and assign a reference number to the ready-to-send SEPA mandate. The payer, e.g. your customer or club member, only has to sign the SEPA mandate.

  2. You initiate the direct debit by transferring the bank data securely to your bank with SEPA Transfer. SEPA Transfer automatically calculates a valid execution date taking into account the prescribed lead time.

  3. Your bank submits the transaction to the payer's bank.

  4. If it is a B2B direct debit (i.e. a company direct debit), the bank checks the SEPA mandate. If there is a CORE direct debit (i.e. a basic direct debit), this step is omitted.

  5. The payer's bank transmits the payment to your bank.

  6. The amount collected is debited from the debtor's account.

  7. Your bank will credit the payment to your account.

 

Do you need to perform multiple bank transactions on a specific date? For example, transfer salaries? With SEPA Transfer, you can make all your transfer orders in one go.