1. What is SEPA Debit?
The Single Euro Payments Area (SEPA) is an initiative of the European Union to simplify payments within and across member countries. They established and enforced banking standards to allow for the direct debiting of every EURO-denominated bank account within the SEPA region.
In order to debit an account, businesses must collect their customer’s name and bank account number in IBAN format. As part of their payment confirmation, customers must accept a mandate that gives the business an authorization to debit the account. Stripe is able to generate this mandate for businesses to present to their customers.
Customers are able to dispute a SEPA Direct Debit transaction within 8 weeks on a “no questions asked” basis: funds will automatically be returned to them. Beyond that point and over the following eleven months, they are still able to dispute transactions that were not backed by an appropriately authorized mandate. During that period, the arbitration process involves both the bank of the creditor (business) and the customer (debtor). After 13 months, disputes are no longer possible.
SEPA Direct Debit is an important method for any business interested in recurring billing.
What happens if my customer cancels a booking paid by SEPA debit method?
The payment method using "direct debit" is a very popular and convenient payment method for European customers. For you as a provider, however, in addition to the positive aspects, there are also a few other points to consider when you offer this payment method for your store.
What you should bear in mind:
- Direct debit authorizations issued can be revoked by the customer up to the day before the debit is made
- Amounts already debited can be easily revoked by the customer at his bank up to 8 weeks after the account has been debited.
- If the customer's account is not covered or the bank details are incorrect, a return debit note is automatically issued.
- Direct debit is a comparatively slow payment method. On average it takes 5 days until the money is collected from the customer or to determine whether his account is covered. - -
- Regiondo has no influence on return debits and can not prevent them. If the payment of a booking, for which you have already received a payment from us, is reclaimed by the customer, the already made payment will be reversed by us.
- You must then claim the outstanding amount from the customer yourself, as we have no way of collecting the amount from the customer again.
Where can I set my payment options in the dashboard?
Go to Shop configuration > payment options in your dashboard to find your payment options.
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Term
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Definition
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Answer
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Booking type
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In which type of accept bookings is the payment method possible?
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No appointment needed, accept new booking automatically
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Payer geography
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Where can you use this payment method?
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France, Germany, Spain, Belgium, Netherlands, Luxembourg, Italy, Portugal, Austria, Ireland
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Currency
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Which currencies are supported for this payment method?
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EUR
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Disputes
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Is there a dispute to receive the payment from the customer?
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Yes
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Payment confirmation
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How long will it take to get the confirmation?
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6 business days
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2. What does it look like for the customer?
3. Why is the payment option not displayed in the check-out process?
If the customer address is considered as a kind of risk by Payone because of Credit Check, payment method is not offered in the check-out process of the user.