DenizBank AG

FAQ SEPA for Corporate Customers

  1. Where can I obtain my business partner’s IBAN and the BIC?

    If you are paying an invoice, then you can read the IBAN and BIC from your business partner's invoice or letterhead. If you are unable to find the information you need from there, please contact your business partner directly.

  2. What is a creditor identifier?

    As a payee or direct debit creditor, you will need a creditor identifier (or CI) to use the Euro direct debit based on the SEPA Direct Debit Scheme. This code is valid throughout all of SEPA, and it uniquely identifies you as a direct debit creditor.

  3. Where can I obtain my creditor identifier?

    In Germany you can apply to the Deutschen Bundesbank for your creditor identifier. If you have any questions, please contact your customer adviser – they will be glad to assist you further.

  4. Are there new pre-printed payment transaction forms for Euro transfers (SEPA)?

    There is a new pre-printed form for Euro transfers, which you can obtain in our branch offices. You can also make payments easily using your online banking access.

  5. Are there new pre-printed payment transaction forms for the SEPA Direct Debit Scheme?

    There will no longer be pre-printed forms for national direct debit schemes, because submissions will usually be made electronically. As direct debit creditor, you can make your direct debit payment collections simply via your online banking account. Our advisors are ready and will to help you. Simply ask.

  6. From when will I be able to use the new SEPA Direct Debit Scheme?

    As of right now, you can use the new SEPA Direct Debit Scheme to collect payments - both inland and across borders using the SEPA Core Direct Debit, or if you are a corporate customer you can also use the SEPA B2B Direct Debit Scheme. The new SEPA Direct Debit Scheme is similar to that of the Austrian Einzugsermächtigung (direct debit collection mandate) and the Abbuchungsauftrag (a type of direct debit authorisation). It is based on direct debit collection mandates issued by the relevant payers.

  7. What are the benefits of these changes?

    The direct debit collection mandate can in future also be used for the SEPA Core Direct Debit. This negates any need for payees to go to the effort of obtaining SEPA direct debit collection mandates for existing debit collection authorisations. Another advantage is that under SEPA, direct debit payments under the direct debit authorisation scheme are now also insolvency-proof.

  8. What are the legal consequences of the switch from the post-authorised to the pre-authorised direct debit scheme?

    As is already the case with the SEPA Direct Debit Scheme, the reimbursement right under § 675x paragraph 2 BGB  applies to the direct debit collection mandate procedure following the change. A standard reimbursement period of 8 weeks applies from the date of the debit entry – without any need for stating reasons. This also makes direct debit payments under the direct debit authorisation scheme insolvency proof.

  9. Are there any changes regarding the submission of direct debit payments under the direct debit authorisation scheme?

    No, direct debit creditors will be able to collect direct debit payments under the direct debit authorisation scheme as before.

  10. What is a direct debit collection mandate in a legal sense?

    For the payee the direct debit collection mandate is the instruction to collect amounts from the specified bank account via direct debit payment collections. For the bank of the payee, the direct debit collection mandate constitutes an instruction to redeem the direct debits of the payer. With the SEPA Core Direct Debit Scheme the direct debit collection mandate is known as the "SEPA direct debit collection mandate", in the SEPA B2B Direct Debit Scheme it is known as the "SEPA B2B direct debit collection mandate".

  11. What is a pre-notification?

    To ensure that direct debit payment collections are successfully executed, direct debit creditors are obliged to notify the payee of the amount and date of the payment before it is actually collected. This enables the payee to ensure that an appropriate sum is available on its account. If both parties have not made any other agreement, the payee must inform the payer of the pending direct debit 14 days ahead of its due date. A comparable procedure is already customary today. Alternative agreements can also be made between the payer and creditor regarding the pre-notification. For example, it may be sufficient to give notice of the direct debit by way of a comment on an invoice (as is the case today).

  12. Is it possible for the 14-day period for issuing the pre-notification to be reduced by the payee's general terms and conditions?

    As a rule, the pre-notification must be dispatched at least 14 days prior to the due date. However there is the option for the payer and the payee to agree a shorter time period.

  13. Is a SEPA Core Direct Debit authorised even without pre-notification?

    A SEPA Core Direct Debit will be authorised once the corresponding direct debit collection mandate has been signed. A SEPA Core Direct Debit is therefore deemed to be authorised in a legal sense even without pre-notification. As an obligation within a payments collection agreement, the dispatch of a pre-notification must be observed regardless. The payee should note the possible consequences of failure to issue a pre-notification, such as repayment due to lack of sufficient funds in the account or by way of a demand for the reimbursement of authorised payments. It is in the interests of the direct debit creditor that the payer be informed in good time prior to the due date or debit date of the direct debit payment collection, to enable it to ensure that sufficient account funds are available. This procedure likewise corresponds to current practice.

  14. What is the situation with standing orders and bank transfer slips?

    We will attend to the conversion of your standing orders and bank transfer slips on your behalf.

  15. Will there be any changes to my reference account?

    No, DenizBank (Wien) AG will automatically attend to the IBAN and BIC conversion of the reference account (e.g. for direct debit payment collections or savings deposits).

  16. Will there be any change to my online banking log-in details?

    No, there will be no change to your online banking log-in data (account number and PIN). Please continue to use your current details!

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