update direct debits. filip vandenbroecke francis de roeck information session mob 22 march 2010

Update Direct Debits.

Filip Vandenbroecke

Francis De Roeck

Information session MOB

22 March 2010

2Information session Febelfin - 11/5/2009

1. Core scheme

2. Continuity/migration of DOM80 mandates for SDD

3. B2B scheme

4. Questions ?

Appendixes

5. Possible future developments

Agenda


1. SDD Core scheme : Comparison with DOM 80(Post 1/4/2010)

DOM 80- PSD compliant

SEPA Direct Debits

Use local local & cross-border Creditor ID given by the NBB given by the Creditor

bank Format CIRI XML format Mandate yes yes Storage of the mandate

Debtor Bank Creditor ( DOM 70)

Creditor

Mandate reference given by the Debtor bank

given by the creditor

Type of DD recurrents one-off’s and recurrents

Pre-notification yes yes cut-off times D-1 D-5 / D-2 Unpaids D+3 D+5 Refunds 8 weeks

13 months 8 weeks (authorised trx) 13 months (unauthorised)


1. Core scheme : Consequences for the Debtor

• Mandate managed by the Creditor• The debtor will send his mandate to the creditor (and not to

his bank) • The debtor bank can offer specific services to the debtor

(visualization of mandates, controls…)

• Transparency• The debtor is well informed by the creditor about the collection• Good information about the product, rights, … from his bank

• Good protection• Easy process for refund

• Belgian end European invoices • Recurrent and one-off invoices


1. Core scheme : Consequences for the Creditor

• Mandate managed by the creditor• The debtor will send his mandate to the creditor• The creditor is responsible for dematerialisation & archiving

• New process and timelines• New roles & responsibilities• New contracts• Same refund period as for DOM80(post PSD).

• New formats between the customer and the bank : • IBAN/BIC• XML Standard for Collections & Reversals (will be published in April)

• Full automated processing : • End-to-end carrying of customer remittance data with a unique reference• Ability to automate exceptions handlings like rejects, refunds, … • Ultimate debtor and creditor

• Belgian and European invoices • Recurrent and one-off collections• Later extension to : E-signature & Business-to-Business


1. Core scheme : first experiences

• Some creditors started• Only with new mandates• No major issue

• new elements for Belgian Creditors• Mandate management • XML formats

• Limited volumes so far• As from 1/4/2010 : possibility to issue SDD(core) collections

based on ‘migrated’ DOM80 mandates.• Migration to Isabel 6.


2. Migration of 'old' BE mandates

Creditor

bank

Debtor

bankDebtor

Creditor X

monthly upload

Active mandates + BIC + IBAN

By Nov 1st, 2009

request for migration

download request

individual notification of enriched mandates data

data of Creditor X


Direct DebitsMigration of existing Belgian mandates

• Belgian banks decided to limit the impact (for creditors & debtors) by enabling the continuity of the 30 millions existing mandates

• Procedure :– Debtor Bank will upload to the NBB the electronic datas about the

DOM80 mandates of their customers (debtors) with IBAN/BIC– The NBB will store all mandate information in a central database– The Creditor can ask to his bank a file will all mandates in his

favor– The Creditor Bank will then ask the download to the NBB which

will send the file to the Creditor– Debtor Banks have to keep the archived mandates

• Mandates migrated are only Core scheme mandates, for B2B mandates, a new signature is needed


3. B2B (Business to Business) scheme

• Major differences versus the core scheme:

- Specific mandate.

- No refund- Eligible debtors :

- only ‘business’.- Concrete criteria left to debtor banks

- Confirmation of consent by debtor to his bank required.

- Shorter timelines- D-1 for presentations- D+2 for returns

– No Migration of DOM80 mandates into B2B mandates. – Only new mandates

- The B2B scheme is optional for Banks - (for the Core scheme, each bank must participate as debtor bank).- but 12 banks are already operational in Belgium


3. B2B scheme : first experiences

• Some creditors started

• Major attention points • Too many collections returned due to lack of

consent available at the level of the debtor’s bank

– Ask your debtor to confirm to his bank about his consent (f.i. copy of the mandate)

• Eligibility of debtors– This can not be imposed to debtor banks (optional

scheme). Ask your debtor to contact his bank


Following information is available on the site www.Sepabelgium.be

• Rule books– Core & B2B

• Implementation guidelines – Core & B2B– bank to bank – Customer to bank (Unifi 20022)– Bank to Customer (CODA 2)

• Brochure SEPA DD (Febelfin)

• Migration of DOM80 mandates to core scheme mandates– Migration procedure for banks (debtor banks & creditor banks)– Migration contract for banks (debtor banks & creditor banks) (soon

available)

more info ?


Good to know : Average number of direct debits per citizens (2006)


Questions

???

Update Direct Debits.full version

Filip Vandenbroecke

Francis De Roeck

Information session MOB

22 March 2010


0. PSD & impact on DOM80

1. Core scheme

2. Continuity/migration of DOM80 mandates for SDD

3. B2B scheme

4. Questions ?

Appendixes

5. E-mandate

6. Possible future developments

Agenda


0. PSD versus SEPA

•Scope of PSD– Covers all forms of electronic

payments, including:• Cash to bank (deposits)

– Out of scope:• Pure cash payments (cash to

cash)• Cheques, bills of exchange etc.

– Geographic area is • EU – 27 countries• EEA – 3 countries

– Covers transactions in all EU currencies – 15 currencies (incl. EEA currencies)

– Bank to customer– Law, hence: Mandatory

•Scope of SEPA– Applies to limited number of

payments:• credit transfers• cards• direct debits

– Geographic area is EU 27 + EEA + CH

– Covers only transactions in Euro!

– Interbank area– Voluntary adherence


0.Comparison DOM 80/ DOM 80 PSD compliant

DOM 80 DOM 80- PSD compliant

Use local idem Creditor ID given by the NBB idem Format CIRI idem Mandate yes idem Storage of the mandate


idem

Mandate reference

given by the Debtor bank

idem

Type of DD recurrents idem Pre-notification yes (in practice ?) yes cut-off times D-1 idem Unpaids D+4 D+3 Refunds 4 days 8 weeks (authorised tr)

13 months (Dom70) (unauthorised)


0. Impact of the PSD on DOM 80

1. Refund period needs to be integrated• - 8 weeks for authorised transactions: unconditional

refund (DOM 70/80)• - 13 months for unauthorised transactions (DOM 70)

2. Value date = Book date

3. New contract to be PSD compliant

4. The existing mandate forms can still be used but need to give an explicit reference to the underlying contract

5. The pre-notification ( the debtor has to be advised before the debit)

6. The execution time: D+3 (instead of D+4)

Application 01/04/2010


1. SDD Core scheme : Comparison with DOM 80(Post 1/4/2010)

DOM 80- PSD compliant

SEPA Direct Debits

Use local local & cross-border Creditor ID given by the NBB given by the Creditor

bank Format CIRI XML format Mandate yes yes Storage of the mandate


Creditor

Mandate reference given by the Debtor bank

given by the creditor

Type of DD recurrents one-off’s and recurrents

Pre-notification yes yes cut-off times D-1 D-5 / D-2 Unpaids D+3 D+5 Refunds 8 weeks

13 months 8 weeks (authorised trx) 13 months (unauthorised)


2. The customer receives a contract / an invoice anda mandate form from his provider

1. The customer buys a service / a good from the provider

Contract / InvoiceReference : 123456789Provider’s name : subscription Magazine ABCAmount : 57,23 €Payment by :European Direct Debit


1Your name

Name of the debtor(s)

Your address * 2Your address

Street name and number

* 3

Postal code City

* 4

Country

Debtor identification code 5Debtor identification code

For business users: write any code number here which you wish to have quoted by your bank.

6Creditor's name

Creditor name

** 7

Creditor Identifier

** 8


** 9

Postal code City

** 10

Country

11Creditor reference party: Creditor must complete this section if collecting payment on behalf of another party .Creditor reference party: Creditor must complete this section if collecting payment on behalf of another party .

Your account number * 12Your account number Account number - IBAN

Account number - IBAN

* 13SWIFT BIC

Person on whose behalf 14payment is made Debtor Reference Party: If you are making a payment in respect of an arrangement betw een {NAME OF CREDITOR} and another

person (e.g. w here you are paying the other person's bill) please w rite the other person's name here.If you are paying on your ow n behalf, leave blank.

Person on whose behalf Debtor Reference Party: If you are making a payment in respect of an arrangement between {NAME OF CREDITOR} and another payment is made person (e.g. where you are paying the other person's bill) please write the other person's name here.

If you are paying on your own behalf, leave blank.

In respect of the contract ** 15In respect of the contract:

Identification number of the underlying contract

** 16Description of contractDescription of contract

Type of payment * Recurrent payment or One-off payment 17Type of payment Recurrent payment or One-off payment

City or town in which you are Date * D D M M Y Y 18signing DateCity or town in which you are Locationsigning

Please sign here *

Creditor's name **

Country

Country



Postal code City

By signing this mandate form, you authorise (A) {NAME OF CREDITOR} to send instructions to your bank to debit your account and (B) your bank to debit your account in accordance with the instructions from {NAME OF CREDITOR}. As part of your rights, you ar

Your name *

Creditor name

Creditor Identif ier

Sreet name and number

Postal code City

For business users: w rite any code number here w hich you w ish to have quoted by your bank.

Mandate reference - to be completed by the creditor

CREDITOR'S NAME & LOGO

SEPA Direct Debit Mandate

Signature(s)Signatures

Identif ication number of the underlying contract

Location

1Your name




* 3

Postal code City

* 4

Country



6Creditor's name

Creditor name

** 7

Creditor Identifier

** 8


** 9

Postal code City

** 10

Country




* 13SWIFT BIC










Please sign here *

Creditor's name **

Country

Country



Postal code City


Your name *

Creditor name



Postal code City







Location

Mandate

+

3. If the debtor chooses the European Direct Debit as payment instrument, he fills & signs the mandate form4. He sends it to the creditor

The customerThe buyerThe debtor

The providerThe sellerThe creditor

1. Core scheme : Process for the mandate

5. The creditor updates his administration and archives the mandate.


1. Core scheme : Process for the payment (1)

The creditor can send the pre-notification separately or can join it to a statement or an invoice.

An overview or a plan for several collections is also acceptable

The creditor & the debtor can agree about another timing for the pre-notification

1. The provider sends to the debtor a pre advice at least 14 days before the due date.

Pre-notificationMandate reference : 123456789Name of the supplier : Subscription Magazine ABCAmount : 57,23 eurosPayment date : every year 15th of JanuaryFirst payment : 15th of January 2009

Pre-notificationMandate reference : 123456789Name of the supplier : Subscription Magazine ABCAmount : 57,23 eurosPayment date : every year 15th of JanuaryFirst payment : 15th of January 2009


1. Core scheme : Process for the payment (2)

Creditor’s bank

Clearing

Settlement

4. The debtor’s bank debits the account of the debtor

3. The creditor’s bank sends the collections + MRI to the debtor’s bank

5. The debtor’s bank pays the creditor’s bank

2. The creditor sends the collections with the Mandate Related Information (MRI) to his bank

Debtor’s bank

DebtorCreditor

6. The creditor’s account is credited


1. Core scheme : Exception handling & The R messages (1)


• Reject: is DD collection that is diverted from normal execution prior to inter-bank settlement by the Creditor Bank, CSM or Debtor Bank (invalid format, wrong IBAN, check digit, refusal by the debtor, …)

• Refusal: is a claim initiated by the Debtor before settlement for any reason, requesting the Debtor Bank not to pay a DD collection (the Debtor bank will then generate a reject)

• Return: is DD collection that is diverted from normal execution after inter-bank settlement and is initiated by the Debtor Bank within 5 target days. (insufficient balance on the account, …)

• Refund: is a claim by the Debtor for a reimbursement of an already settled DD

1. Core scheme : Exception handling & The R messages


• Revocation: is requested by the Creditor to recall the instruction for a DD collection prior to the acceptance by the Creditor Bank.

• Request for cancellation: is requested by the Creditor Bank to recall the instruction for a DD collection prior to acceptance by the CSM

• Reversal: when the Creditor concludes that a DD collection should not have been processed after the Clearing and Settlement and reimburses the Debtor with the full amount of the erroneous collection within 2 days after settlement.

Can be initiated by Creditor Bank for the same reasons.

1. Core scheme : Exception handling & The R messages


1. Core scheme : Consequences for the Debtor

• Mandate managed by the Creditor• The debtor will send his mandate to the creditor (and not to

his bank) • The debtor bank can offer specific services to the debtor

(visualization of mandates, controls…)

• Transparency• The debtor is well informed by the creditor about the collection• Good information about the product, rights, … from his bank

• Good protection• Easy process for refund

• Belgian end European invoices • Recurrent and one-off invoices


1. Core scheme : Consequences for the Creditor

• Mandate managed by the creditor• The debtor will send his mandate to the creditor• The creditor is responsible for dematerialisation & archiving

• New process and timelines• New roles & responsibilities• New contracts• Same refund period as for DOM80(post PSD).

• New formats between the customer and the bank : • IBAN/BIC• XML Standard for Collections & Reversals (will be published in April)

• Full automated processing : • End-to-end carrying of customer remittance data with a unique reference• Ability to automate exceptions handlings like rejects, refunds, … • Ultimate debtor and creditor

• Belgian and European invoices • Recurrent and one-off collections• Later extension to : E-signature & Business-to-Business


Creditor Identifier in Belgium

BE 98 001 0456810810

BE 98 300 000000008DZZZ

BE 98 001 0000012345

1. When Creditor has an Enterprise nb:– 8 17 : Enterprise number (10 pos.)– This ID remains the same, whatever bank is that delivers it

2. When Creditor has no Enterprise nb:– 8 10 : Creditor Bank Code (3 pos.) ING=300– 11 : “D”– 12 20: Sequential Number (9 pos.)

• Remark: The dom80 IDs that begin with 4 or more zeros may not be used

• Creditor Bank obligations: – Issue the Creditor Identifier (AT-02)– Issue the unique sequential nb when no enterprise nb exists– Deliver Creditor Identification issuance certificates when requested


Informing creditors of the reason of an R-transaction via CODA (4)The bank of the creditor

– Maps the SDD reason codes received into CODA reason codes– Differentiates between 4 code groups

• CODA reason 1 : maps codes indicating technical problems

– Codes MD02, MD03, AG02, RC01, AM05

• CODA reason 2 : maps codes indicating other/unknown reason

– Codes AM04, MS03

– CODA reason 3 : maps codes indicating explicit disagreement by the debtor

– Codes MD01,MD06 and MS02

• CODA reason 4 :maps codes indicating account problems

– Codes AC01, AC04,AC06, AG01,BE01,MD07, RR01,SL01


• One set of signatures• Each DD batch:

– Same due date– Can not mix Sequence Type:

• First (D-5)• Recurrent (D-2)• Final (D-2)• One-off (D-5)

– Can not mix core with B2B– Can mix different timelines in same Seq Type

• Recurrent normal (D-2) with Bank Changed (D-5) = when Debtor goes to another bank & decides to keep the same mandate

– Individual procuration check (for NL)• Different batch in file when

– Different due date– Different scheme (core vs B2B)– Different sequence type

Collection initiation files

rule


1. Core scheme : first experiences

• Some creditors started• Only with new mandates• No major issue

• new elements for Belgian Creditors• Mandate management • XML formats

• Limited volumes so far• As from 1/4/2010 : possibility to issue SDD(core) collections

based on ‘migrated’ DOM80 mandates.• Migration to Isabel 6.


2. Migration of 'old' BE mandates

Creditor

bank

Debtor

bankDebtor

Creditor X

monthly upload

Active mandates + BIC + IBAN

By Nov 1st, 2009

request for migration

download request

individual notification of enriched mandates data

data of Creditor X


Direct DebitsMigration of existing Belgian mandates

• Belgian banks decided to limit the impact (for creditors & debtors) by enabling the continuity of the 30 millions existing mandates

• Procedure :– Debtor Bank will upload to the NBB the electronic datas about the

DOM80 mandates of their customers (debtors) with IBAN/BIC– The NBB will store all mandate information in a central database– The Creditor can ask to his bank a file will all mandates in his

favor– The Creditor Bank will then ask the download to the NBB which

will send the file to the Creditor– Debtor Banks have to keep the archived mandates

• Mandates migrated are only Core scheme mandates, for B2B mandates, a new signature is needed


3. B2B (Business to Business) scheme

• Major differences versus the core scheme:

- Specific mandate.

- No refund- Eligible debtors :

- only ‘business’.- Concrete criteria left to debtor banks

- Confirmation of consent by debtor to his bank required.

- Shorter timelines- D-1 for presentations- D+2 for returns

– No Migration of DOM80 mandates into B2B mandates. – Only new mandates

- The B2B scheme is optional for Banks - (for the Core scheme, each bank must participate as debtor bank).- but 12 banks are already operational in Belgium


2. The customer receives a contract / an invoice and a mandate form from his provider

1. The customer and the provider negotiate a commercial transaction



1Your name




* 3

Postal code City

* 4

Country



6Creditor's name

Creditor name

** 7

Creditor Identifier

** 8


** 9

Postal code City

** 10

Country




* 13SWIFT BIC










Please sign here *

Creditor's name **

Country

Country



Postal code City


Your name *

Creditor name



Postal code City







Location

1Your name




* 3

Postal code City

* 4

Country



6Creditor's name

Creditor name

** 7

Creditor Identifier

** 8


** 9

Postal code City

** 10

Country




* 13SWIFT BIC










Please sign here *

Creditor's name **

Country

Country



Postal code City


Your name *

Creditor name



Postal code City







Location

Mandate

+

3. If the debtor chooses the European Direct Debit as payment instrument, the mandate form is to be filled & signed



3. B2B : Process for the mandate

4A. The debtor sends the filled and signed mandate to the creditor


Debtor’s bank

4B. The debtor informs his Bank about the signed mandate

Additional step for B2B :


3. B2B : Process for the payment

Creditor’s bank

Clearing

Settlement

4B. The debtor’s bank debits the account of the debtor

3. The creditor’s bank sends the collections + MRI to the debtor’s bank

5. The debtor’s bank pays the creditor’s bank

2. The creditor sends the collections with the Mandate Related Information (MRI) to his bank

Debtor’s bank

Debtor

Creditor

6. The creditor’s account is credited

1. The provider sends to the debtor a pre advice at least 14 days before the due date.

Additional step for B2B : 4A. The debtor’s bank checks the agreement of the debtor


Return (Deb Bk)

Refusal (Debitor)

reject

3. Exception handling & The R messages – B2B

D+5

collectionsent 1) to CSM2) to Deb bank

Creditorsends Collectionto his bank

D+2DD-1D-14

Due dateSettlement dateDebit date

Pre-notification

Specific for B2B :

- Shorter timelines

- No Refund

Limit to send collection1) to CSM2) to Deb bank

Time line for the B2B scheme :


3. B2B scheme : first experiences

• Some creditors started

• Major attention points • Too many collections returned due to lack of

consent available at the level of the debtor’s bank

– Ask your debtor to confirm to his bank about his consent (f.i. copy of the mandate)

• Eligibility of debtors– This can not be imposed to debtor banks (optional

scheme). Ask your debtor to contact his bank


Following information is available on the site www.Sepabelgium.be

• Rule books– Core & B2B

• Implementation guidelines – Core & B2B– bank to bank – Customer to bank (Unifi 20022)– Bank to Customer (CODA 2)

• Brochure SEPA DD (Febelfin)

• Migration of DOM80 mandates to core scheme mandates– Migration procedure for banks (debtor banks & creditor banks)– Migration contract for banks (debtor banks & creditor banks) (soon

available)

more info ?


Good to know : Average number of direct debits per citizens (2006)


Questions

???


4. In the pipeline : E mandates : objectives• Higher security : Validation by the debtor bank of :

• the correctness of the account and openness for SDD collections• the access to the account based on the used identification mean. less refunds for unauthorized collections.

• Paperless : Faster & easier process• Fully automated E2E STP mandate processing • One integrated process with the ordering / signing of the contract.

• The Debtor bank can store the MRI at that time • Instead of based on the MRI sent with the first collection• To improve its offering for visualisation / additional controls

• Dependencies : • Documentation & standardisation (ISO)• Offering of routing & validation services

• Facultative; no impact on the collections.

• Available for both schemes : core & B2B (later)

• No commitment yet on Belgian level. (analysis to be done)


4. SDD e-Mandate Service DescriptionSuccessive steps of the issuing process:

• Step 1: Debtor initiates e-Mandate on Creditor’s Web-Site; checking by Creditor

• Step 2: Creditor submits e-Mandate proposal through routing service• Step 3: to validation service of Debtor Bank• Step 4: Debtor Bank invites Debtor to enter authentication means• Step 5: Debtor Bank validates Debtor’s means of authentication and confirms to Debtor• Step 6: Debtor Bank confirms validation result through the original routing service• Step 7: to the Creditor• Step 8: Creditor confirms final acceptance to Debtor and stores e-Mandate

The collection is processed via the normal standard SDD procedure


4. SDD e-Mandate Diagram of the 4 party model

1. Initiation 2 &3 Mandate request

Authorisation4. Confirmation6 &7 E-Mandate8 Confirmation


• Scheme ‘fixed amount’ – (no refund)

• Mandates via Zoomit

• MRI before first collection

5. Other possible developments


• Major characteristics : – Specific mandate : the mandate contains the amount of the

future collection(s).– The debtor renounces explicitly his refund right – The periodicity (f.i. one collection per month) is also an

option in this scheme

• Target – No eligibility limitations at debtor side.– Eligibility at creditor / business side not yet clear. There may

be a code of conduct reserving this scheme to the payment of goods & services that by their nature cannot be returned.

– This scheme will be optional

• Status– Status at EPC level : for validation in the Plenary of

24/3/2010.– The Belgian banking community will support this scheme.

The timing is not yet discussed nor defined.

5.1. Other possible developments scheme ‘fixed amount’ – no refund


• Major characteristics : – Possibility for the creditor to submit mandates to the

debtor via zoomit– Possibility for the debtor to sign the mandate

electronically– Possibility for the creditor to be sure that the

mandate is signed by the owner of the account or his representative

– Pure Belgian idea – no European solution

• Status– Presented in last MOB; some positive reactions, but

limited interest expressed.– To be analysed in the context of a joint action plan

for the migration

5.2. Other possible developments : mandates via Zoomit


Browser window 2 Browser window 1

InternetBanking

Sender

Dr Bk 3

DocumentService Platform

DSP

Dr Bk 2

Dr bk 1IBAN

Mandate Requests

Mandate Requests

Check e-Mandates Availability

Send signed e-Mandate requestAccount X

Encrypted URL to DSP

Connector

Connector

Connector

Connector

Connector

Sign e-Mandate request

5.2. Other possible developments : Mandates via Zoomit.


• Major characteristics : – Possibility for the creditor to send the Mandate Related

Information (MRI) to the debtor bank as soon as the mandate has been signed by the debtor.

– The debtor bank checks the eligibility : i.e. that the account number is correct, open, and not blocked for Sepa Direct Debits.

– Possibility for the debtor bank to inform the owner of the account about this MRI; in this case : possibility for the debtor to react if required.

– (for B2B : Possibility for the debtor bank to submit to the owner of the account this MRI in order to get confirmation of his consent).

– This Belgian idea has been submitted (once again) to the EPC :• Support from major stakeholders (consummers; EACT)• Limited support from major banking community.

• Status– Presented in last MOB; some positive reactions.– We monitor the development at European level : The belgian

banking community is not in favor of local flavours.– To be analysed in the context of a joint action plan for the

migration

5.3. Other possible developments :MRI before first collection


2. The customer receives a contract / an invoice anda mandate form from his provider

1. The customer buys a service / a good from the provider



1Your name




* 3

Postal code City

* 4

Country



6Creditor's name

Creditor name

** 7

Creditor Identifier

** 8


** 9

Postal code City

** 10

Country




* 13SWIFT BIC










Please sign here *

Creditor's name **

Country

Country



Postal code City


Your name *

Creditor name



Postal code City







Location

1Your name




* 3

Postal code City

* 4

Country



6Creditor's name

Creditor name

** 7

Creditor Identifier

** 8


** 9

Postal code City

** 10

Country




* 13SWIFT BIC










Please sign here *

Creditor's name **

Country

Country



Postal code City


Your name *

Creditor name



Postal code City







Location

Mandate

+

3. If the debtor chooses the European Direct Debit as payment instrument, he fills & signs the mandate form4. He sends it to the creditor



5.3. MRI before first collection :same first steps in the process for the mandate …



5.3. MRI before first collection : additional steps before the first collection.

Creditor’s bank

CSM

10. The debtor’s bank can inform the debtor, can propose additional controls, etc.

7. The creditor’s bank sends the MRI to the debtor’s bank

9. The debtor’s bank sends a R message if relevant

6. The creditor sends the Mandate Related Information (MRI) to his bank

Debtor’s bank

DebtorCreditor

11. The creditor receives the R messages

8. The debtor’s bank checks that the account is eligible (account valid; open and not blocked for SDD’s

update direct debits. filip vandenbroecke francis de roeck information session mob 22 march 2010

Documents

creditor belgian

debtor mandate

creditor mandate reference

new mandates

information session

ultimate debtor

business slide

roeck information session