The chronology of a SEPA Direct Debit follows a strict sequence of orders. R-transactions (failed transactions) can also occur at various stages of the process.
- D day or execution Date: This is linked to the bank clearing process. At D day, funds are transferred from debtor's bank to the merchant's SlimPay account.
- Value Date: Fixed at D+1, SlimPay values transactions during the night and then funds can be used by the creditor.
Note on SEPA direct debit payments
Since November 19th, the new version of the SEPA Rulebook came into actions. Here are the key changes:
SEPA Payments for Non-EEA* countries
Name and address of the debtor are now mandatory for direct debit payments processed in a Non-EEA country like Switzerland, Guernsey, Jersey, Isle of Man, Norway, Monaco and Saint Martin.
Note: This new obligation also applies for credit transfer made in case of customers refunds.
Extension of return deadline for B2B direct debits
The return deadline for B2B direct debits is extended from 2 to 3 banking working days.
For any further question, contact firstname.lastname@example.org.
*EEA: European Economic Area