SEPA direct debit

Everything you need to know about SEPA direct debit.

SEPA is one of the most common payment methods in Europe. With SEPA direct debit you can easily collect payments (automatically) from accounts in 36 different European countries. So you have less to worry about incoming payments and a structured cash flow.

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What is SEPA direct debit?

A SEPA direct debit is an authorization that allows you to automatically collect an amount from customers abroad. Of course, you have to enter into an agreement with the customers for this; it is not allowed to just collect money.

An important feature of a SEPA mandate is that it allows you to collect money from foreign customers. There is both a B2C and a B2B version.

SEPA direct debit is mainly used for subscription services, streaming services and for (one-time) payment of low amounts.

What does SEPA stand for?

SEPA stands for Single Euro Payments Area. As the abbreviation suggests, it is a system for euro payments in a particular area. This area consists of 36 countries within Europe and affiliated areas. Transferring as well as collecting payments within the SEPA countries is thus a lot easier.

Which countries belong to the SEPA zone?

There are 36 countries that belong to the SEPA zone. These are all 27 Member States of the European Union (EU): Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Croatia, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the Czech Republic.

Plus the following 9 'loose' SEPA countries:Andorra, Iceland, Liechtenstein, Monaco, Norway, San Marino, United Kingdom (England, Scotland, Wales, Northern Ireland, including Guernsey, Isle of Man and Jersey), Vatican City and Switzerland.

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How does SEPA direct debit work?

A consumer who wants to pay something to a SEPA-affiliated company gives permission to debit money. This can be a one-time payment or a recurring payment, such as a subscription. The consumer must then give written authorization to the company. The company then sends a request to the bank to process the payment. Once the payment is approved, the money is debited from the account and the company receives the money. A direct debit can always be objected to.

Prior to a direct debit, the consumer must fill out an authorization form. This contains all the information required for a direct debit.

Is SEPA direct debit safe?

Yes, SEPA direct debit is secure. The system uses the secure environments of banks. These are subject to legal requirements regarding privacy and transaction security.

What is the advantage of SEPA direct debit?

The advantage of SEPA direct debit is that the payment can go through even if the consumer has no identification (phone, e-reader) with him at that moment. A (digital) signature is sufficient. It also makes recurring payments possible without a consumer having to give permission each time.

Why offer SEPA direct debit through Pay?

Pay. always offers low transaction costs. Every payment method, including SEPA, is easy to integrate and use in your webshop. Direct debits can easily be created via an API or via the Admin Panel.

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