About Paperless SEPA Direct Debit (SDD)
Paperless SDD channels include, taking authority over the phone, the internet, via a device – any sign-up where there is no paper involved. The mandatory requirements in terms of content are no different from the ‘paper’ SEPA Mandate. After receiving the signed Mandate (either written or ‘electronic’ using a nationally excepted and legally binding method) the process for submission of those details remains the same.
- No Paper! For easier Storage – electronic archiving, healthy audit trails
- Cost Efficient – No printing, signing and returning effort
- Less manual data entry
- Can be a fully automated ‘Straight Through Process’ (STP) possible for greater efficiencies and less errors