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Direct debit order

Direct debit order

A direct debit order is an instruction to a bank to debit an amount due from a specific bank account.

Related definitions

ISO 20022

International standard used for the exchange of financial data (payments, direct debits) between companies and banks, or between financial institutions.

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SCT

SCT stands for SEPA Credit Transfer. It enables payments to be made in euros in the 36 member countries of

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Remittance

Whether you’re talking about a transfer remittance or a direct debit remittance, the remittance form must be filled…

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A direct debit enables a sum of money to be withdrawn automatically from the debtor’s bank account, as in the

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