EPC Publication: Shortcut to SEPA Direct Debit (SDD)

The European Payments Council () makes available the publication 'Shortcut to Direct Debit (SDD)' (four-page flyer) which summarises the main features of the SDD Schemes ( and SDD Business to Business) including their key benefits. The publications released in the 'Shortcut Series' highlight key Single Euro Payments Area () concepts and deliverables in non-technical terms. To view the entire series and more information supporting bank customers transitioning to , refer to this page on the Website: SEPA Customers.

For detailed information on the SDD Schemes, refer to this page on the Website: SEPA Direct Debit.

The invites readers to be mindful of the European Union (EU) 'Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009' (the Regulation) adopted by the EU legislator in February 2012. The Regulation defines 1 February 2014 as the deadline in the euro area for compliance with the core provisions of this Regulation. In non euro countries, the deadline will be 31 October 2016. Effectively, this means that as of these dates, existing national euro credit transfer and direct debit schemes will be replaced by Credit Transfer () and SDD. For more information on the Regulation, refer to this page on the Website: SEPA Legal and Regulatory Framework.

The jurisdictional scope of the Schemes currently consists of the 28 Member States plus Iceland, Norway, Liechtenstein, Switzerland, Monaco and San Marino. Please refer to the List of SEPA Scheme Countries.

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