SEPA Direct Debit
Collect recurring payments easily
Do you want to collect recurring payments in an easy manner? If so, ING SEPA Direct Debit is the ideal solution. After receiving approval once, you can debit the amount due automatically every time, both in Belgium and in the rest of Europe.
In all SEPA countries payments can be collected in the same way using a direct debit.
The collection will cost you less because you only need one bank.
Efficient cash management
Since amounts are collected automatically, payments are more punctual. As a result, you have better control of your cash flow.
Once the agreement is signed, you do not have to undertake any more actions. Within SEPA, one account is enough for all payments.
The SEPA direct debit (also known as SEPA Direct Debit or SDD) is a simple and organised 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 authorised transactions.
*The SEPA consists of the Member States of the European Union (Austria, Belgium, Bulgaria, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal (including the Azores and Madeira), Romania, Slovenia, Slovakia, Spain, Sweden, the United Kingdom (including Gibraltar and Northern Ireland)) and Iceland, Liechtenstein, Monaco, Norway and Switzerland.
All organisations which have to collect recurring amounts regularly.
- Direct debit agreement: as creditor you first have to conclude an agreement with your bank.
- Mandate (direct debit message): the debtor must also fill in a mandate to give the bank permission to collect the amounts. When changing an existing direct debit to the 'normal' (core) version of the SEPA direct debit, no new mandate will have to be signed.
- Collection: as creditor you must notify your customer at least 14 days in advance about the next collection (prior notice). You also send the collection details to your bank. Your bank will then be able to collect the amount due from the debtor's bank.