Management of SEPA debit requests Clause Samples

Management of SEPA debit requests. The process of collecting a SEPA Direct Debit is initiated by the Creditor. If the direct debit collections report a Creditor Identifier referring to a Creditor that participates in the SEDA service, the receiving Debtor PSP carries out the specific controls described below. 1. The Creditor sends the SEPA Direct Debit collection to the Creditor PSP. 2. The Creditor PSP sends the SEPA Direct Debit collection to the Debtor PSP. 3. At the reception of the SEPA Direct Debit collection, the Debtor PSP checks for the presence of the Creditor Identifier (attribute AT-02), including the Business Code, in the master data of SEDA service participants (CRI000). If the Creditor Identifier (AT-02), including the Business Code, is included in the master data of SEDA service participants (CRI000), the Debtor PSP uses the unique mandate key indicated in the direct debit collection to access the archive and find the corresponding entry. If the Debtor PSP does not find a corresponding active mandate in its archives, it rejects the direct debit collection; if, on the other hand, the PSP finds the corresponding active mandate, it carries out at least the following controls:  verification that no notice of amendment (attribute AT-24) of the mandate data is indicated in the direct debit collection. If that indication is present, it does not make any change and rejects the direct debit collection24 (any mandate amendments must be reported by the Creditors participating in SEDA using the message “Request to amend mandate data initiated by the Creditor” referred to in the Operating Rules paragraph);  verification that the business code indicated in the direct debit collection coincides with the code recorded in the mandate. If the control has a negative result, it rejects the direct debit collection;  verification that the scheme code indicated in AT-20 (Core, B2B, other Schemes) is compliant with the debit account classification. If the control has a negative result, it rejects the direct debit collection. If all of the above controls have a positive result, the Debtor PSP performs the debit on the IBAN associated with the mandate recorded in the archive. 24 As an exception to this general principle, in the first SEPA direct debit collection associated with a RID mandate to be converted to a SEPA mandate, it is possible to assign a value to the attribute AT-24 “The reason for amendment of the Mandate” to amend only the mandate identification code (AT-01 “The unique Mandate ref...

Related to Management of SEPA debit requests

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