Streamlining of SDD Mandates

Streamlining of SDD Mandates

24 October 13

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The Direct Debit (SDD) mandate, at first glance, may seem large and complicated.  In actual usage, however, this will not be the case, and to bring greater clarity on this point, a guidance document is in preparation which will give practical information on how selected information may be used in various situations.  Practical examples of 'what is allowed and not allowed' will also be included.

In this context, it should also be noted that most of the information on the mandate as illustrated in the SDD Rulebook will anyway be shared with the underlying contract.  The forthcoming guidance document will illustrate how this will significantly reduce the amount of information requested specifically for the mandate itself.

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