Login

Contact

Magnius Direct Debit


SEPA, what is it?

SEPA stands for Single Euro Payments Area. It is a European initiative, launched in 2002 by European financial institutions, aiming to ease and improve the ...


What is a SEPA mandate?

In order to collect Direct Debit on a bank account, any Creditor needs to get the approval of the Debtor through the acquisition of a valid SEPA Direct Debi...


SEPA, in which countries is it applicable?

The SEPA coverage consists in 35 countries:  - 19 countries in the euro zone: Andorra, Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, I...


SEPA Direct Debit Flow

The SEPA Direct Debit flow is composed of 3 main steps: Mandate capture and management: a SEPA Direct Debit Mandate has a "life". Once the debt...


What is a Creditor Identifier (CID)?

To get started with SEPA Direct Debit, any company or institution needs to get a Creditor ID (CI). This CI identifies a Creditor independently from its relat...


What is the IBAN?

The IBAN is the unique European identifier of a bank account. It contains information regarding the country, the bank, the agency, the account and some cont...


SDD, what is it?

It is the acronym for SEPA Direct Debit. SEPA is the European standard that harmonises bank transfers in Euro throughout the SEPA zone.


R-Transactions

Like any payment method, SEPA Direct Debit may experience unsuccessful transactions. These are called R-Transactions. There are 4 types of R-Transactions th...