Stipulated among the rules are:

• the applicable processes, deadlines and form specifications (such as: mandate administration, one-time and recurring direct debits) are clearly and internationally defined;
• a right to objection must be granted;
• the pre-notification of the customer is required;
• clearly defined charging back processes are in place;
• the transactions are to be processed using standard formats (ISO 20022) and data content, including the provision of the IBAN and BIC.

SEPA direct debits for Swiss financial institutions

Swiss financial institutions that participate in the euroSIC system and which have debtors as customers will be reachable for SEPA-compatible direct debits. They will also be able to carry out payments. An offer for banks with creditors is optional according the SEPA direct debit procedure and will be implemented at a later date.

Further information

SEPA Core Direct Debit Scheme Rulebook, Version 2.3

SEPA Direct Debit Scheme Implementation Guidelines, Version 2.3

SEPA Data Model, Version 2.2

Format standards according UNIFI (ISO 20022) XML

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