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‘SEPA Direct Debit’

The European ‘SEPA Direct Debit’ (SDD) domiciliation system came into force in Luxembourg on November 1st 2010.

The SEPA Direct Debit allows for cross-border direct debit payments in Euros

  • 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
Services for companies, the independents and freelancers

Contact an advisor in one of our Raiffeisen agencies or fill in the contact form

Where to find us

Raiffeisen has branches all over Luxembourg so you will be able to find a branch or ATM wherever you are.

Any questions?

Contact a Corporate advisor who will be able to answer your queries and guide you towards the most appropriate solutions.