How do I know my Mandate is SEPA-ready?
Your Mandate must be approved by your Creditor bank prior to use. This is typically with the bank that holds the bank account used to collect SEPA Direct Debit payments. Your Creditor bank are bound by the rules of the scheme and are responsible for you as a participant of the scheme, ensuring adherence to the rules around such documents and how they are used.
Is this the same for all SEPA Documents?
YesYou must obtain approval from your Creditor bank for all and any documents intended for use within a SEPA Direct Debit process.