‘SEPA Direct Debit’

• On the same basis
• On client accounts in Luxembourg
• ​On client accounts in all other countries in the SEPA zone

The introduction of the SDD system is a significant impact on creditor companies:

• a choice between two mandates: ‘core’ or ‘B2B’:
  • the ‘Core’ mandate applies for private and business clients. It gives the debtor the right to an unconditional reimbursement for eight weeks.
  • The ‘B2B’ mandate is for companies that work with business clients only. It does not include a right to reimbursement.
• Mandates and the related data managed by the creditor company.
• Adaptations required for the payment order files and a return to the .xml file format.
• Compliance with a specific procedure for migration of domiciliations currently in place to the SDD system.

Our Raiffeisen advisors can help with:

• Detailed information on the new SDD system to answer all your questions
• Support though all the necessary procedures for successful integration of the SEPA Direct Debit system
• Advice on the choice between the ‘Core’ and ‘B2B’ models
• Advice on migration of your current mandates