Since November 21st, a new version of SEPA direct debit standards applies for the European payment area. Read now, to which changements of payment transaction attention should be paid to.
The COR1 debit does not exist anymore. Former COR1 debits were automatically converted into Core Direct Debits, which seem simplified: the initial timeliness is now set on a workday. The first-time direct debit is no longer required to be submitted with the sequence type „FRST“ but now also with the sequence type „RCUR“.
Four sequence types
Concerning debtors of direct debits, SEPA distinguishes private customers from corporate customers. So far, both could use CORE debit and COR1 debit. There is also a separate form of direct debit for companies (B2B). For all types of debit, every transaction is assigned to a certain sequence type.
- First dd sequence = FRST (no longer binding)
- One-off dd sequence = OOFF
- Final dd sequence: FNAL
- Recurrent dd sequence = RCUR
Exclusively for the B2B area
For business customers, the SEPA Business to Business Direct Debit Scheme (B2B) is provided. It can exclusively be used for B2B transactions. The regulations are to be found in the EPC rulebook version 7.2.
Time limits of different debits
- For CORE debits, advance information about the amount and the due date (D) should be transmitted to the debtor at least 14 workdays (D-14) before the due date
- The advance notice (= lead time, timeliness with the bank) for initial debits, single debits or following debits is at least one workday (D-1) and maximum 14 workdays before the due date (D-14).
- The execution of a direct debit takes place at the due date (D).
Rights of the debtor
- Rules for authorized debits: the debtor of the direct debit can request a chargeback within up to 8 weeks from the debit date.
- Rules for unauthorized chargebacks: the debtor of CORE- and B2B debits can request chargebacks within up to 13 months from the debit date.
- For private customers, the clearing period of a return by the bank must not exceed five workdays after the offsetting of the CORE debit. B2B company debits have a time limit of two days.
Outlook for November 2017
On November 19, 2017, the new policies „2017 SEPA Direct Debit Core Rulebook Version 1.0“ and „2017 SEPA Direct Debit Business to Business Rulebook Version 1.0“ become effective. With the upcoming regulations, the allowed clearing period for B2B debit chargebacks is raised to three TARGET2 workdays.
- D = Due date/debit date
- EPC = European Payment Council
- TARGET2 workday = Every weekday from Monday to Friday, except 1 January, Good Friday, Easter Monday, 1 May as well as 25 and 26 December. Daytime processing: between 7.00 and 18.00, cut-off deadline: 17.00 customer payments, 18.00 interbank payment transactions. The (new) TARGET2 business day is begun the previous day at 18.45. Overnight processing of subsystems, based on dedicated liquidity: between 19.30 and 22.00 as well as between 1.00 and 6.45.
More information and updates on this topic can be found at