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SEPA Direct Debit (SDD) is a national payment service in EUR for debiting clients' current or giro accounts in EUR, when the payment transaction is initiated by the payee based on a consent given by the client to the payee.
SEPA direct debit (SDD)
Do you pay utility bills regularly?
Use SEPA Direct Debit!
Sign the consent for payments using SEPA Direct Debit with payees offering that possibility. Based on your consent, the payee will deliver to the Bank the amount of the bill to be debited to the transaction account you listed in the consent.
You can define special conditions for SEPA Direct Debit in any Bank branch, such as:
- prohibition of execution of all SEPA Direct Debit orders per individual account or all accounts
- White and Black Lists
- limiting the SEPA Direct Debit order collection to a certain amount and/or time frame for each consent.
The Bank will execute the initiated SEPA Direct Debit order when the client has sufficient funds in the account for order execution and fee payment.
Benefits
- Simpler payment of bills without the risk of late payment and its consequences
- Easy payment tracking
- Transparent procedure of refunds to payers who are natural persons
- Arranging specific conditions
Arrangement
The consent for Direct Debit is a document based on which the client authorizes the payee to initiate orders for debiting the client's account and which authorizes the Bank to debit the account in accordance with such payment orders delivered by the payee. The payer gives the consent for account debiting to the payee, and in the bank only if that is agreed upon by the payee and the bank (the Bank receives the consent for debiting the payer's account on behalf and for the account of the payee - the bank is the payee's point of sale).
Use
There are fees for arranging specific conditions and fees for SEPA Direct Debit order execution. The fees have been defined pursuant to the Decision on Fees for Bank Services.