The timeline lists the different stages of a SEPA Direct Debit. It is accompanied by an explanation.
You can submit an authorisation up to one year before the collection date.
According to the rules, notification needs to take place at least 14 days prior to the collection date, unless agreed otherwise with the debtor.
Buckaroo submits the authorisation to the bank on the day prior to the display in the consumer’s banking environment.
When an authorisation is submitted, the following day is a bank waiting day. This is one day prior to the collection date. For more details, see the waiting days explanation
D is the day of the collection date. On that day, the money is debited to the debtor’s account and credited to the beneficiary’s account.
Direct debit amounts are displayed on the bank statement 0 to 5 days following the collection date.
Reversals of payment are displayed on the bank statement 0 to 56 days following the collection date. This right only applies to SEPA Direct Debit Core (B2C or consumers) authorisations.
Report Unjustified Direct Debit (MOI) is mentioned on the bank statement 56 days up to 13 months following the collection date. This right no longer applies when consumers use a Digital Direct Debit Authorisation.
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