Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Banks don't need a SEPA mandate to allow a direct debit?


The SEPA mandate is between the parties in the transaction. While banks require their existence, it is usually not shared with the banks involved.


So only a creditor ID is needed if someone has a set of IBANs and then things will be processed?


A creditor ID and a direct debit agreement with some bank, yes. After you have those, (usually) the banks won't verify individual transactions.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: