SDD

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

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A direct debit enables a sum of money to be withdrawn automatically from the debtor’s bank account, as in the

SCT

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

SCI

SCI stands for SEPA Creditor Identifier. All creditors wishing to issue SEPA direct debits must have an SCI enabling them

Transfer order

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

Remittance

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

ISO 20022

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

Need more information?

Find all our definitions in the Glossary section.