SEPA Direct Debit

SEPA Direct Debit is a non-cash direct debit in EUR within the SEPA area, initiated by the beneficiary based on a prior agreement with the payer (the so-called Mandate).

The beneficiary of a SEPA Direct Debit can only be a business entity duly registered with the relevant local authority (the CNB for the Czech Republic). By registering with the relevant authority, the beneficiary of a SEPA Direct Debit receives a Creditor ID (also CID, PRINK), which is part of the Mandate and each SEPA Direct Debit request. Anyone (a business entity or a private person) can be a SEPA Direct Debit payer if they authorise their account for the SEPA Direct Debit.

SEPA Direct Debit benefits

  • simplicity – convenient execution of one-off and recurring payments in fixed and variable amounts within the SEPA area
  • no additional costs – the payment is not limited in amount and is made in full, i.e., the beneficiary's account is always credited with the full amount transferred, the fees of the payer's and beneficiary's banks are charged separately (the so-called SHA fee)
  • information
    • the beneficiary has the option to send a message to the payer together with the SEPA Direct Debit request
    • the payer is informed in advance of the incoming SEPA Direct Debit request and the due date
  • uniform legislation applicable across the EU/EEA

SEPA Direct Debit types

 

Consumer Direct Debit (CORE) is intended for both consumers and businesses. A direct debit is revocable, i.e., you can request a refund without giving a reason for a set period of time. The client may arrange additional services with the bank, e.g., the execution of the payment may be conditional on a successful check against the entered SEPA Direct Debit Mandate.

UniCredit Bank CZ offers only the passive part of the Consumer SEPA Direct Debit, i.e., processing the received SEPA direct debit request and sending the direct debit payment or rejecting such a request.

Business Direct Debit (B2B) is intended solely for business entities. In order to make a payment based on a Business SEPA Direct Debit request, a SEPA Direct Debit Mandate must be entered. This type of SEPA Direct Debit is irrevocable and therefore the payer cannot request a refund of the SEPA Direct Debit made.

UniCredit Bank CZ supports the Business SEPA Direct Debit in its entirety, i.e., sending direct debit requests, processing incoming SEPA Direct Debit requests and sending the direct debit payment or rejecting the request.

 

Mandate

 

A mandate is a written agreement between a payer and a beneficiary by which the payer confirms that a particular beneficiary is authorised to receive funds debited from the payer’s account. The Mandate will automatically expire 36 months after the last request sent. The beneficiary is obliged to archive the Mandate.

  • Model Consumer SEPA Direct Debit (CORE) Mandate
  • Model Business SEPA Direct Debit (B2B) Mandate

 

SEPA Direct Debit participating banks

  • Business SEPA Direct Debit (B2B)
  • Consumer SEPA Direct Debit (CORE)

SEPA Direct Debit requests can only be made through the following e-Banking Products:

  • BusinessNet Professional
  • MultiCash
  • EuropeanGate

Bank in all the above channels