SEPA Direct Debit Mandate
Direct Debit is the most suitable payment method for transactions such as Recurring Services, Subscriptions and Donations.
Direct Debit must be instructed by the merchant through a written authorization, known as Direct Debit Mandate where both parties (beneficiary and payer) agree on the collection rules (frequency, value, date of first debit, etc).
This document is the merchant’s responsibility in order to reduce the risk of withdrawal as his customer’s bank may at any time request the Mandate, signed by both parties, to validate the charges. This document must include the following data:
- Beneficiary’s name;
- Indication of the product/service being purchased;
- Payer’s information (name, address, email, signature, etc);
- Frequency of charge (monthly, annual, etc);
- Amount to be charged;
- Date of first charge;
- in case of proper instruction of the Mandate, the withdrawal can be made in D+45 (after the charge date) at the bank;
- in case of any missing or unfilled fields, the payer has 13 months to withdraw.
Mandates can be issued in paper or electronic form and must contain the necessary elements to confirm the authorization granted by the payer to the beneficiary, to debit his account, such as the payer’s signature.
Example of Mandate:
Find here the characteristics of easypay’s Direct Debit!