Consolidate your Euro payables and benefit from enhanced cash flow control
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Payments
SEPA Direct Debit
SEPA Direct Debits are charged the same as your automated debit fees within your service charge.
How we could help your business
SEPA Direct Debit Claims enables your company to pay suppliers in the 41 Single Euro Payment Area (SEPA) countries using a single account held with NatWest, signing up to the same debtor mandate for all the SEPA countries you pay to.
Benefits
An integrated solution to pay Euro Direct Debits from your business account to the suppliers based in all the SEPA countries.
Consolidation of your Euro Account payables across the SEPA countries.
Capability to accept Core and Business to Business mandates according to the need of your suppliers or local tax authorities*.
Safe and secure way of paying bills and regular payments helping to build trust with your suppliers.
Standardised mandates and refund terms across all 41 SEPA countries.
For clients who wish to:
- Regularly pay your suppliers or tax authorities in one or more of the 41 SEPA countries.
- Need to accept a Direct Debit in exchange of better payment terms.
- Desire to streamline the Euro account payables and integrate them into your company cash management.
Information Message
Considerations:
- SEPA payments are in Euros only.
- A SEPA Direct Debit Claims mandate can be set up using non-Euro Currency accounts, for example, Sterling account transactions will be subject to Foreign Exchange conversion and fees will apply.
- The Refund terms vary from scheme to scheme: 8 weeks on a “no questions asked” basis and 13 months if the mandate was not authorised for the Core scheme; no refund rights for the Business-to-Business scheme.
- € Currency Business Accounts are also available, supporting your European payables and receivables, for more information on how to apply please visit Business Currency Current Account.
Information Message
How it works
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01
Identify the need to pay your European suppliers by Direct Debit, our customer service teams, and Relationship Managers are available to provide additional detail you require.
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02
Agree the payment terms and frequency with your supplier, complete the mandate and return it directly to your supplier, the creditor (Core Scheme); ask for the application form and any specific terms. Business to Business mandates only, please return the completed mandate to your relationship manager, this will allow the bank to activate your mandate to enable the creditor to collect the monies due.
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03
Creditor notify the Collection your supplier or tax authority will notify the incoming debit, contractually or by specific communication, in order to prepare funds in your business account.
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04
The Direct Debit is collected, the creditor will instruct their bank to collect the funds and your business account will be debited one day later.
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05
Manage your rights, you have the right to allow specific creditors to debit your account as well as to request a refund within the period established by the scheme (Core scheme) or refuse specific claims. These rights are explained in the terms you will receive from us.
