SEPA Direct Debit Transaction Types
|FRST||First or First of reccurring/re-presented collection|
|RECUR||Reccurring collection (after FRST)|
|OOFF||One-off collection, future attempts rejected|
|FNAL||Final collection (Mandate destroyed)|
The types of transations listed above are required when a Creditor submits thier file of Mandates or Collections. The must be within the file of mandates and/or collections submitted to the Creditor Bank and correct use of each to is required under the scheme to avoid rejection of the transaction.
- The First Collection (FRST) is the first collection in a series of direct debit collections. This code must also be used for recurrent mandates i.e. the must be a FRST (First) transaction, before their can be a RCUR or FNAL (Recurrent or Final) transaction. This transaction type must also be received at the debtor bank no later than 5 working days prior to the Due Date.
- The Recurrent Collection (RCUR) is a subsequent collection in a series of direct debit collections and can only be sent after a First Collection type. A recurrent Collection must be received by the debtor bank at the latest, 2 Business Banking Days* before the Due Date. This transaction type cannot be presented after a FNAL (Final) transaction.
- The One off (OOFF) is a once off mandate that cannot be reused and must be received at the debtor bank at the latest 5 Business Banking Days* before the due date. An example of a one-off a one-off collection could be to collect debt without disturbing the regular payment or if wanting to take an additional payment, after this the mandate has expired and is redundant. Any subsequent direct debits attempts using the mandate details will be rejected.
- The Final Collection (FNAL) is the final direct debit in a series of direct debit collections and must be received by the debtor bank no later that 2 Business Banking Days* prior to the Due Date. Once processed on the Debtor’s bank account, the mandate is destroyed. Any subsequent collection attempts using this mandate will be rejected.
NOTE: Transactions can be rejected if details such as the BIC, IBAN and UMR have been submitted previously using an OOFF, FRST, RCUR, or FNAL transaction type.
*BBD (Business Banking Days). For further explanation click Mandate Amendment