Q: How to set up a SEPA direct debit

Direct debit agreement: as creditor you first have to conclude an agreement with your bank. Mandate (direct debit message): as creditor you ask the debtor to sign a direct debit mandate. Collection: as creditor you use the data of the mandate to send the collection details to your bank. Your bank will then be able to collect the amount due from the debtor's bank.

Q: Charges

Consult the fees brochure (PDF) .

Question 1

What is a SEPA direct debit?

Accepted Answer

The SEPA direct debit (also known as SEPA Direct Debit or SDD) is a simple and organized way of automatically collecting money. With one account for the entire SEPA*, you can correctly collect your payments using direct debits. You only have to notify your customer-debtor 14 days before the collection (prior notice). You will then be able to debit their account automatically.

There are two kinds of SEPA direct debit:

'Normal' SEPA direct debit (SEPA Core Direct Debit): for consumers and non-consumers.
Business to Business SEPA direct debit (SEPA Business to Business Direct Debit): if your customer is not a consumer. In this case the right of repayment will not apply for authorized transactions.

Click here to find the list of SEPA countries.

Question 2

Who is it for?

Accepted Answer

All organisations which have to collect recurring amounts regularly.

Question 3

How to set up a SEPA direct debit

Accepted Answer

Direct debit agreement: as creditor you first have to conclude an agreement with your bank.
Mandate (direct debit message): as creditor you ask the debtor to sign a direct debit mandate.
Collection: as creditor you use the data of the mandate to send the collection details to your bank. Your bank will then be able to collect the amount due from the debtor's bank.

Question 4

Charges

Accepted Answer

Consult the fees brochure (PDF).

Question 5

Are you interested in the SEPA direct debit?

Accepted Answer

Consult our leaflet for more information about Direct Debits for creditors.
Consult this page for more information about the upload of Direct Debit files in Business Bank.