There are two types of Sepa Direct Debits, B2C and B2B. The B2C scheme (Business to core) is used for all types of debtors. The B2B scheme (Business to Business) is designed for companies only.
There are two sides to SEPA Direct Debits, the Debtor side and the Collector side. The Debtor side has their account debited by a third party and the Creditor side is collecting from an account of a third party.
Below we will share information about the SEPA Direct Debit – Debtor side.
- No mandate registration.
- The debtor is allowed to instruct their bank to refund a transaction up until 8 weeks after the debit.
- The debtor is allowed to start up a refund process for an unauthorized SDD up until 13 months after the debit.
- The debtor has to send the debtor bank a signed mandate for registration before the first debit.
- No refunds or rejects are allowed.
There are several options for blocking SEPA Direct Debits on accounts;
- No SEPA Direct Debits;
- No B2C SEPA Direct Debits;
- No B2B SEPA Direct Debits;
- No First and no One Off;
- No SEPA Direct Debits for a specific Creditor ID;
- No SEPA Direct Debits for a specific IBAN;
- No SEPA Direct Debits for a specific country.
If there are any questions about refunds, blocking, or more information on SEPA Direct Debits , please e-mail the Client Service Desk (firstname.lastname@example.org) stating below details:
- Debtor IBAN;
- Debtor name;
- The amount;
- The date of the SEPA Direct Debit;
- Creditor name;
- Creditor IBAN;
- Creditor bank.
Please click on the below link for the SEPA Reason Codes document. This document contains information about the different SEPA return/reject/refund codes.