SEPA Direct Debits definition
Examples of SEPA Direct Debits in a sentence
The Account Holder is entitled to terminate the present agreement for the execution of SEPA Direct Debits.
In the case of SEPA Direct Debits, the Debtor is the owner of the debit account that provides the Mandate to the Creditor (as these terms are defined below) in order for the Creditor to initiate collections.
In the case of SEPA Direct Debits, the Creditor is the holder of the credit account that receives the Mandate from the Debtor to initiate collections, which are at the same time orders to receive funds from the Debtor's Entity through the process of debiting the amount to the Debtor's account.
Issuance of direct debits, The Mandate or Domiciliation Order: The issuance of SEPA Direct Debits is based on the use of a Direct Debits or Mandate, through which the Originator (Debtor) authorizes the Beneficiary (Creditor) to make collections in a Payment Account owned by you.
You can only limit SEPA Direct Debits to particular amounts or by frequency if they were set up under the (SDD B2B) scheme.
In the case of SEPA Direct Debits, PCSIL only offers direct debits under the CORE Scheme (or basic): Direct Debits in Euros based on the regulations contained in the SEPA CORE Direct Debit Rulebook (or SEPA CORE Direct Debits Regulations), published by the European Payment Council.
You must let us know who may / may not collect SEPA Direct Debits from your account.
As Single Euro Payments Area (SEPA) Direct Debits are initiated in Euro they will be converted to Sterling at the exchange rate on the day prior to settlement.
With SEPA Direct Debits your Instruction will become invalid after 36 months of inactivity.
You must let us know who may/ may not collect SEPA Direct Debits from your account.