SEPA direct debit

SEPA Direct Debit Debtor

A SEPA Direct Debit service can be used for euro-dominated payments throughout the SEPA.

The SEPA direct debit for debtor consists of two services; CORE and B2B and can be used for euro-dominated payments throughout the SEPA.

The CORE service is targeted for corporates and consumers, whereas the B2B service is targeted for corporates only.

As a debtor you need to sign a service agreement with Nordea. This is done in Netbank (Other payments/SEPA direct debit/Open an agreement) or by contacting your own Nordea branch. For now, opening the agreement is only possible in the old Netbank and not in Nordea Mobile.

Your benefits:

An easy way to pay your recurring domestic and cross-border payments in time and with correct details.
With one euro account you can order and pay for services from both domestic and foreign companies.
Both the creditor and the debtor must comply with the same rules in all transactions.
Possibility to have payments refunded.

Cancellation and Refund

Cancellation

You can cancel a SEPA direct debit request before the due date by contacting your own Nordea Branch. The cancellation must be made no later than by 12.00 on the banking day preceding the due date.

Refund

A refund request of the payment can be made up to eight (8) weeks from the debit date of the collection by contacting your own Nordea Branch. However, making a refund request on a SEPA direct debit collection does not release you from the payment obligation in relation to the creditor which are to be contacted directly in relation to the payment.

Unauthorised debit from your account

If you suspect that a SEPA direct debit has been unjustifiably made (for example, a double payment, no mandate, incorrect amount), you have the right to request a refund within thirteen (13) months from the debit date. Please contact your local advisor in Nordea for further information.

Mandate

When a creditor offers you SEPA direct debit as a means of payment, you will receive a mandate to fill in. The signed mandate should be returned to the creditor.

The mandatory information required in a mandate has been specified on the European level by the European Payment CouncilOpens new window By signing the mandate, you authorise the creditor to debit your payment account. The debit account you have specified in the mandate needs to be the same account you connect to Nordea's service agreement and you need to be authorised to use the account.

The creditor cannot verify whether the account number given in the mandate is correct or whether the party that has given the mandate has the right to use the account. You must agree on any changes to the mandate directly with your creditor.

The creditor is responsible for ensuring that the mandate is up to date. If you want to revoke the mandate or change the means of payment, you must contact the creditor directly and agree on the changes.