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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


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

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Direct debit

A direct debit enables a sum of money to be withdrawn automatically from the debtor’s bank account, as in the

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

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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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