SDD Definition.

SEPA Direct Debit: the SEPA direct debit, based on a mandate the debtor signs in favor of the creditor (identified by its SEPA creditor identifier and the unique mandate reference). It comes in two versions. Core serves any debtor, with a no-questions-asked refund right for 8 weeks and 13 months for an unauthorized debit. B2B is for businesses only, with no refund right and a mandate registered with the debtor’s bank. Returned payments flow back as R-transactions, and the creditor is charged for them.

See also

→ SEPA creditor ID (SCI)→ UMR (mandate reference)→ R-transactions

Where this term appears

GuidePayment regulationGuidePayments in GermanyGuidePayments in the BalkansGuidePayments in the Netherlands and BelgiumGuidePayments in Germany, Austria, and SwitzerlandGuidePayments in FranceGuideMonaco, Andorra, San Marino, Liechtenstein, and the Crown DependenciesGuidePayments in the Nordic countriesGuidePayments in Norway and DenmarkGuidePayments in SwedenGuidePayments in SwitzerlandGuidePayments in Portuguese-speaking and southern Africa

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