SEPA Direct Debit

SEPA Direct Debit is a non-cash payment where the beneficiary collects funds from the payer’s account, whereas the payer and beneficiary have agreed upon this in advance and the payer has signed the so-called mandate for the beneficiary.

Other conditions:

• The payment currency: EUR
• The payer’s as well as beneficiary’s bank: EEA
• Order format: ISO 20022 XML

The direct debit settlement on the payer as well as beneficiary part is on the same day, which is the maturity day. In the case of deficit of funds on the payer’s account, the attempt to settle the SEPA Direct Debit shall not be repeated.

Consumer SEPA Direct Debit (CORE scheme) is used by companies to debit recurring payments for services provided, especially from Consumers. Business SEPA Direct Debit (B2B scheme) is used to collect payments among business partners (entrepreneurs, companies) when paying their business commitments.

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SEPA Basic Information

Foreign payment

Cross-border transfers are an easy and widespread means of transferring funds between the payer and the beneficiary, who are in different countries. They are also used for transfers of funds in foreign currency within the Slovak Republic. Cross-border transfers over EUR 33 thousand where conversion is necessary are converted by the Bank using individual exchange rates.

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Cheques

Cheques are payment orders through which the drawer orders the drawee (a financial institution where the drawer’s account is held) to pay the person indicated in the cheque or the bearer the cheque amount.

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Cash payment

Client can make cash payments based on cash transfer orders both in domestic and foreign currency.

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