Direct Debit Collections
SEPA Direct Debit enables the collection of Euro-denominated payments from accounts across the single European payment area.
Through our API, you can initiate collections (pull payments) from a debtor's account after obtaining the appropriate mandate, with support for both single and recurring transactions.
We currently support Euro collections across 21 countries, on the SEPA Direct Debit Core scheme.
Core Capabilities
Our Direct Debit solution provides comprehensive collection management through:
- Collection Scheduling: Initiate collections up to one business day before settlement
- Exception Handling: Automated processing of cancellations, reversals, and refunds
- Status Tracking: Collections updates and comprehensive reporting via API
- Mandate Management: Complete lifecycle handling of payment authorizations
- Open Banking Integration: Account validation and funds verification
Learn more about Direct Debit Collections lifecycle
Dynamic Mandate Management
A mandate is the authorisation to collect future payments from the debtor. With Banking Circle's Dynamic Mandate Management offering, our system ensures that all the necessary information for collecting payments is available and that the mandate is properly archived (created, selected, sent, archived and stored).
We offer three types of mandate management solutions, each providing different levels of security and validation:
- Click mandate: Basic mandate management solution suitable for low risk clients. Your client signs the mandate electronically, which we then check and archive in line with legal and regulatory requirements.
- TAN mandate: An enhanced version of the click mandate where your client is required to confirm the mandate signature via a Two Factor Authentication number sent via email or SMS.
- AIS mandate: Our most robust solution suitable for higher risk customers / transactions. The client authenticates through their online banking portal, allowing us to verify account ownership, IBAN validity, and available funds, significantly reducing the risk of chargebacks.
Updated 26 days ago