Remittance

Whether you’re talking about a transfer remittance or a direct debit remittance, the remittance form must be filled in by the instructing party with all the information needed to proceed with the payment or direct debit, then sent to the bank for execution.

Related definitions

Direct debit

A direct debit enables a sum of money to be withdrawn automatically from the debtor’s bank account, as in the

Transfer order

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

Deposit slip

The deposit slip is a document handed over by a client to his banker, as part of a deposit or

SDD

SDD stands for SEPA Direct Debit. It enables the collection of payments in euros in the 36 member countries of

ISO 20022

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

Direct debit order

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

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Find all our definitions in the Glossary section.