- Standardized method of cashless transfers via direct debiting in EUR within SEPA countries
- The beneficiary sends a payment order for direct debit to the bank and based on your Authorization the bank will debit your account and transfer the funds to the beneficiary’s account
How the Direct debit works
- direct debits in EUR are executed within all SEPA countries
- you will receive a notification about a pending direct debit
- you may cancel a pending direct debit one day prior to its maturity (at a branch or over Internetbanking)
- within 8 weeks you may ask for a refund of your direct debit without any specific reason
- you just need to enter one identifier of the direct debit – Mandate Reference
- the funds from your account are credited to the beneficiary’s account on the same day
- a direct debit executed in Slovakia and other SEPA countries has the same fee
- you provide your direct debit authorization for CID – unique creditor identifier based on which the creditor is able to receive direct debits to any of their accounts within SEPA countries
List of SEPA countries
EEA countries: Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Greece, Holland, Croatia, Iceland, Ireland, Liechtenstein, Lithuania, Latvia, Luxembourg, Malta, Hungary, Germany, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Italy, United Kingdom of Great Britain and Northern Ireland
Other territories and autonomous areas: Martinique, Guadeloupe, French Guyana, Reunion, Gibraltar, the Azores, Madeira, the Canary Islands, Ceuta and Melil, Aland Islands, Mayotte, St. Bartholomew, St, Martin, St. Pierre and Miquelon
Countries that have joined SEPA: Switzerland, Monaco, San Marino, Andorra