Sepa Core Direct Debit Mandate: Fill & Download for Free

Hello,Yes, but only limited usage outside the EU zone. The EU zone is smaller than the SEPA zone.Eg. It is possible to use a SEPA direct debit mandate on a Norway account for instance. However it should be a transaction in EURO on an IBAN account. The debtor should be working with a bank reachable for SEPA Direct Debit which is some countries difficult to find.Additional countries beyond the EU zone areLiechtenstein (4 banks in CORE SDD)Monaco (30 banks in CORE SDD) (guess why ;-)Norway ( only ! 5 banks CORE SDD)San Marino (8 banks CORE SDD)Switzerland (23 banks CORE SDD)Iceland : none !Note: UK is in the EU (for the moment) - number of banks above is more limited for B2B - figures are 8/8/2017 figures.Kind regardsDominique

Dear, I took an extract from a blog which is on our website e-Mandates and SEPA Direct Debits which explains a part of it including also the attention points.In two words…With a Sepa Direct Debit the creditor has the possibility to take money from the account of his customer (in the Sepa-zone - in Euro). He can only do this when he has a mandate. Once he has a mandate from the Debtor he can start doing the collection in combination with his own bank. That bank will search the money with the Debtor bank.This illustration gives a summary. Beneath you will find more detailsStarting with direct debits: the mandateBefore starting with direct debits, you should consider the following elements:You must have the agreement of your bank to do direct debits. Your customer must have signed a mandate by which he gives you permission to automatically collect the money he owes. You have to send the collection instructions to the bank that will do the collection. In most cases this will be done by means of eBanking tools. It is always possible that a collection cannot be executed because there is not enough money on the account of your customer. Keep in mind that you must follow up the collections and may have to re-send some collection instructions to your bank.Step 1: Agreement with the bankYou must sign an agreement with the bank to be allowed to do “Core” or “B2B” direct debits. After that you will receive a Creditor ID from the bank. Please note that the bank may want to perform some verifications (business plan, turnover of the last few years). After all, the bank also takes a risk.There are considerable differences between the two types of direct debits:“Core”: The agreement is concluded between you and your customer and requires no intervention from your bank. The customer can also be a business. One of the key points here is that your customer can ask the bank to refund him up to 8 weeks after the collection took place without having to specify a reason for this refund. The invoice or contract remains valid but will have to be collected in another way.“B2B”: These agreements are concluded between companies. The intervention of the bank is required. The customer must give his consent to the bank, after which the agreement will be transferred to you. A vital point here is that the customer must have a business account.Step 2: Agreement by the customerOnce you have the agreement of the bank, you can invite your customers to sign a mandate. They can do this on paper (through a legally defined document structure!) or electronically (eg. via our platform Twikey).Each mandate must have a unique “mandate reference number “. Each bank has its own formatting rules but if you make sure that each mandate has a unique number you will encounter no problems.All banks require a written signature on the mandate. Also an electronic signature is sufficient under the law but the keep attention that the bank accepts it.For B2B agreements, it is important that you receive the confirmation that the agreement has been recorded at the bank of the final customer, otherwise you cannot proceed to any collection.An agreement remains valid as long as you use it. After that, it still remains valid for a period of 36 months. An invalid signed mandate (in line with the law) can be reclaimed up to 13 months.Step 3: Execution of the collectionsOnce you have the agreement of your customer, you can execute collections. The mandate data must be included in the collection instruction. A collection instruction can be delivered as follows:For small transaction volumes that you wish to input yourself each month, you can do this via the internet application of your bank or via a tool that can deliver files to the banks (e.g. via Isabel or Twikey).For both small and larger transaction volumes you can create a transaction file (XML SEPA Direct Debit file) which contains all the transaction instructions.Step 4: Collection follow-upThe bank will provide you feedback on the collections. In most cases the amount collected will appear on your account after a few days.Take into account that in some cases the money may be withdrawn from your account again. This may occur for example when your customer did not have enough money on his account.