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 (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/unlock their account for SEPA Direct Debits.

SEPA Direct Debit benefits

  • initiation - payments initiated by the beneficiary on the basis of prior consent
  • 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 format - thanks to the uniform format and standardised conditions observed by all participating banks, payments can be easily matched with receivables or payables in the clients' accounting systems

 

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 fully 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 (DOC)
  • Model Business SEPA Direct Debit (B2B) Mandate (DOC)

 

SEPA Direct Debit requirements

  • the currency of transfer is EUR
  • the beneficiary's SEPA Direct Debit payments (B2B SEPA Direct Debits) account at UniCredit Bank CZ is maintained in EUR
  • the account number of both the beneficiary and the payer must be entered in the international IBAN format
  • the payer's account is authorised/unlocked for SEPA Direct Debit (Consumer Direct Debit) and the Mandate is enabled on it in favour of a specific beneficiary (at least for B2B Direct Debit purposes)

Participating banks

  • Business SEPA Direct Debit - B2B
  • Consumer SEPA Direct Debit - CORE

SEPA Direct Debit requests can only be made through the following direct and electronic banking channels:

  • BusinessNet
  • MultiCash
  • EuropeanGate
  • UC eBanking