Direct debit

A direct debit enables a sum of money to be withdrawn automatically from the debtor’s bank account, as in the case of a subscription, for example.

SEPA Direct Debit: a simple and reliable way to collect your customers

Related definitions

SCT

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

Transfer order

A transfer order is given by the owner of a bank account, whether an individual or a company, to pay

ISO 20022

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

Treasury transfer

A treasury transfer is the transfer of money between two bank accounts belonging to the same company or group…

Remittance

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

Direct debit order

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

Need more information?

Find all our definitions in the Glossary section.