Electronics from the Netherlands and screws from France. The production machine is manufactured in Germany and is finally in Poland. Imports and exports within Europe are on the agenda. Previously, transfers were in the EU still problematic. As of 1 February 2014, that will change, as the cashless payment traffic is regulated. The 28 EU countries, Iceland, Liechtenstein, Norway and Monaco and Switzerland use the new schemes for credit transfers and direct debits.
Two defining elements: IBAN and BIC
The IBAN is an international standardized account number. It contains the account information and is therefore replaced in Germany the account number and the bank code. Both are part of the IBAN.
IBAN and BIC are in this combination 31 up to and including January 2014 used in all national payments. The Bank Code (BIC) does not apply to the national payments from 1 Februar 2014. For all payments within the European Economic Area (EU, Iceland, Liechtenstein and Norway) it applies from 1 Februar 2016.
What about the issue of direct debits?
The SEPA Direct Debit there is future in two versions:
- SEPA Core Direct Debit - comparable to today's debit authorization
- SEPA Direct Debit - similar to today's debiting procedure
The basic method can be used by consumers and businesses.
Direct Debit Mandate
The relevant components are the mandate, the creditor identification number, the mandate reference number and the preliminary information. The mandate is the legal legitimacy. It involves the consent of the payer to the payee to collect outstanding payments via direct debit and bank transfer to the bank or savings bank for redemption charged to the appropriate account. Core Direct Debit and Direct Debit mandate have different texts. The SEPA direct debit mandate is valid indefinitely until canceled by the debtor. If, however, filed no subsequent direct debit within 36 months after the last collection, a new direct debit mandate must be obtained from the payer.
