Can a SEPA Direct Debit Mandate be amended?
Yes Mandate details can be amended under the SEPA Direct Debit scheme however the amendment is handled between the Creditor and the Debtor and not via the banks. If an amendment is required, upon receipt of the request the Creditor must store the new information and this should be sent with the next collection. This helps ensure regular collection remain uninterrupted.
An amendment may be required when:
- The Creditor needs to provide a new Unique Mandate Reference (UMR). The Debtor must be notified in advance of next payment
- The Creditor has changed their Creditor Identifier information (The Debtor must be notified in advance of next payment)
- The Name of the Creditor has changed (The Debtor must be notified in advance of next payment)
- The Debtor wishes to change the account to be debited in the same bank
- The Debtor wishes to change the account to be debited in another bank
How long does the amendment take to reach the Debtors Bank?
To avoid interruption to an existing collection, the Debtor bank must receive the amended details in a given time prior to the SEPA Direct Debit collection (the Due Date).
- Latest, 2 Business Banking Days* prior to the due date
Mandate Amending transactions must be received by your Debtor’s bank 2 Business Banking Days* at the very latest, prior to the due date.
- Latest, 5 Business Banking Days* prior to the due date
This is an exception to the 2-day rule above, and occurs where the Debtor has moved banks, in which case, the Creditor should use the transaction type ‘First’ when submitting the mandate with the new Debtor bank and this must be 5 Business Banking Days* at the very latest, prior to the due date.
Transactions received any later than the timeframes described above will be rejected.
*Business Banking Days (BBD)
BBD could be seen as typical working days, but a UK working day may differ to that of one in the Eurozone. In SEPA, Business Banking Days are days on which a bank is typically open for business. This varies across Europe when you consider the Public and National holidays in each country. Its recommended that Creditors are aware of whats relevant for the countries they are collecting from.
Note: For a full list and description of the varying ‘days’ used under the SEPA Direct Debit Scheme, come on our SEPA Training or alternatively, there are SEPA Direct Debit rulesbooks available online and free to download from the EPC’s website. www.europeanpaymentscouncil.eu