SEPA direct debit

It is called SEPA Direct Debit to a pan-European system also known as Direct debit that allows direct debit and debiting of receipts with the same simplicity, ease and interaction that was done in any country within its borders.

The SEPA direct debit is a payment service intended to charge the account of the debtor, identifying the account by means of the IBAN code.

Types of SEPA direct debit

There are two types of direct debit:

1. Basic mode (CORE): It allows making collections in euros debiting the debtor's account, whether it is a consumer, company or self-employed.
2. SEPA B2B: It allows you to make payments in euros between non-consumers, and that differentiates it from the basic one in that it has a reduced return period.

The characteristics of the basic debts are:

• Direct debits are in euros.
• The prior consent of the account holder is required.
• They must include the details of the direct debit order.
• They must be presented in advance of their collection date, which will be the one on which the debtor must comply with his payment obligation.

We are talking about a system that affects the collections and payments that are made between economic subjects, whether they are individuals or companies from the 27 countries of the European Union, with the addition of Iceland, Norway and Liechtenstein plus two luxury guests such as Switzerland. and Monaco.

SEPA unifies and standardizes this payment instrument at a pan-European level, extending the repayment terms compared to those established in the past in each national system.

In this sense, issuers of national receipts have had to negotiate and expand their lines of credit with their banks in order to continue anticipating and / or arranging on the due date the amount of transfers to national clients.