SEPA Direct Debit

Types of SEPA DD Schemes

There are two types of SEPA DD schemes:

1. SEPA Core Direct Debit (Core)
2. SEPA Business to Business (B2B)

Core Scheme
The Core Scheme can be used by both Personal and Business Customers. Agreements will automatically be created for customers using the Core scheme when a SEPA DD is received and customers are not required to sign anything with the bank. Just like a standard domestic DD.

However, customers with eBanking can choose to prevent the collection of new SEPA DD's without their prior approval. See Refund/Return Rules further down for more information.

B2B Scheme
The B2B scheme can only be used between large businesses/corporate customers.

Before B2B SEPA DD mandates can be created and SEPA DD collections made from the B2B debtor’s account, a SEPA Direct Debit Agreement must be signed by the customer.
A B2B customer must always pre-advise the bank of any new incoming B2B SEPA DD's.

Time Limits
The originator can send requests for 4 types of payments. SEPA DD's are always received for a future payment date, but not earlier than 14 calendar days before the payment is due. Different time limits exist for the receipt of each payment type, depending on the scheme being used, as illustrated in the table below:

Refund/Return Rules
Different refund/return rules exist depending on the scheme being used, as illustrated in the table below:

A core customer can request a no questions asked refund within 8 weeks of the payment.