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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