Bank Direct Debit

Direct debit is a means of payment that allows you to transfer money from account to account. With your consent, payment is triggered by your creditor which addresses your bank directly.

The sample may be punctual (for a single invoice) or automatic and regular (for a subscription, insurance contributions, loan repayment...).)

The amount of the levy may be fixed or variable (consumption-related bill: energy supply, internet ...))

To pay your invoices by direct debit, you (debtor) give the authorization to the beneficiary (your creditor) to be paid by deducting an amount from your bank account.

A direct debit may be made in euro or in another currency

A SEPA direct debit is made in euro in the countries of the SEPA zone.

Direct debit requires your consent. For a one-time payment or for a regular payment, you must complete and sign a SEPA direct debit mandate.

The SEPA Direct Debit Mandate may be in paper or electronic format.

The form is provided by the creditor (the business or body that will take you) and must contain:

• The title ‘ SEPA Direct Debit Mandate »
• The name and address of the creditor payee of payment
• THESEPA creditor identifier (ICS): it is a unique number that identifies each direct debit issuer, it is issued to the creditor by his bank
• The single mandate reference (RUM): it is a unique number that allows to recognize each direct debit mandate, the RUM is generated by the creditor for each commercial relationship
• The legal formula: " By signing this money order, you authorize (A) {NAME DU CREDITOR} to send instructions to your bank to debit your account, and (B) your bank to debit your account in accordance with the instructions of {NAME DU CREDITOR}. You have the right to be reimbursed by your bank under the conditions described in the agreement you have with it. A refund request must be submitted within 8 weeks of your account's debit date for an authorized direct debit.»

As debtor, you must complete the SEPA Direct Debit Mandate indicating:

• The type of payment: one-off or regular
• Your contact details: surname, first name, postal address
• The bank references of the account on which you authorize the direct debit: the IBAN and the code BIC
• The date
• Your signature

You then forward the signed mandate to your creditor, attaching your bank identity statement (RIBS)

At the same time as he sends you his invoice, your creditor can provide you with a document called Interbank payment instrument (SEPA Tip).

You can then pay by signing the SEPA Tip and sending it back by post.

On 1^er payment of this kind, you must attach to your shipment the bank identity statement (Rib) the account you authorize the direct debit from.

The SEPA Tip is then sent by the creditor to your bank, which deducts the corresponding amount from your account.

Each SEPA Tip is for single use for a specific amount, pre-recorded on the document.

The creditor must inform you at least 14 days before the expected date of the debit (unless otherwise agreed) of the date and amount of the direct debit.

This information may be communicated to you by a provisional timetable or a notice of collection.

The execution of each payment transaction is notified to the holders of the two accounts concerned (account credited and account debited).

You can agree with your bank on the means and frequency of notifications (e.g. direct debit notices, text messages, account statements, etc.).

The term of the mandate depends on the authorization you have given.

A mandate for which no SEPA direct debit order has been submitted during 36 months can no longer be used. If the creditor If you want to use it again, it will have to sign a new direct debit mandate.

The bank cannot carry out a direct debit transaction without your authorization. You may withdraw your consent until the withdrawal has taken place.

If you don't have enough money in your account, your bank may refuse to pay the direct debit. She has to tell you notify and state the reason for the refusal. This refusal may result in bank charges, depending on your account agreement.

In case of rejection of a SEPA direct debit, it is advisable to contact your creditor to regulate the situation. You can ask them to represent the direct debit or to provide another method of payment (by payment card or SEPA transfer for example).

If the direct debit is rejected again, the bank must not charge you any new fees. If she does, she has to pay you back.

The levy can be paid. However, in the majority of banks, online procedures via the customer area are free of charge.

In its information documents on banking services, the bank must distinguish between set-up costs of sampling and the execution costs of the sampling.

Banks can also charge for opposition transactions to direct debit, revocation of mandate, or rejection of direct debit.

Check your account agreement to know the rates set by your bank.

Bank transfer and direct debit are 2 secure transactions allowing a transfer of money from account to account.

The transfer is carried out by the person who pouring the money.

The direct debit shall be carried out, with the consent of the account holder, by the person who receive the money.

The rates applied by your bank for transfers or direct debits are set by your account agreement.