SEPA
PAYMENTS SIGNAL · REFERENCE CARDSEPA Direct Debit — Core
A biller pulls a euro invoice from a customer under a signed mandate: the collection instruction flows from the creditor's side while the money moves the opposite way, from debtor to creditor.
Actors
- Riya (debtor / customer)customer
- Bank Alfa (debtor bank)bank
- STEP2-T (CSM)infrastructure
- Nordbank (creditor bank)bank
- Asha Traders (creditor / biller)customer
Messages
- pain.008
- pacs.003
The sequence
| # | Step | Route | Kind |
|---|---|---|---|
| 1 | Mandate check — Asha Traders confirms the mandate | Asha Traders | internal |
| 2 | Pre-notification — Asha Traders pre-notifies Riya of the collection | Asha Traders → Riya | message |
| 3 | pain.008 — Asha Traders submits the collection to Nordbank | Asha Traders → Nordbank | message |
| 4 | pacs.003 — Nordbank submits the interbank collection | Nordbank → CSM | message |
| 5 | Clearing cycle — The CSM calculates obligations | CSM | clearing |
| 6 | Settlement — Positions settle in central bank money | Bank Alfa → Nordbank | settlement |
| 7 | DR debtor — Bank Alfa debits Riya | Bank Alfa | posting |
| 8 | CR creditor — Nordbank credits Asha Traders | Nordbank | posting |
Exception rails
| Rail | Trigger | Where the money ends up | Next action |
|---|---|---|---|
| Refund: 8-week no-questions-asked | Within 8 weeks of the debit date, Riya asks Bank Alfa for a refund of the direct debit. For a Core collection this refund is unconditional — no reason is required. | Returned to Riya's account after the refund settled. · Original collection settled, then reversed by a separately settled refund. | Riya — Asha Traders resolves the disputed invoice with Riya directly; beyond 8 weeks a claim is possible only for unauthorised collections, up to 13 months, and is not automatic. |
| Return: no valid mandate | When Bank Alfa checks the incoming collection it finds no valid mandate on file for Riya (or the account cannot cover it), so it must send the collection back rather than complete the debit. | Never stayed with the biller — the collection was returned before or shortly after settlement. · The collection was reversed by a separately settled return carrying the reason code. | Bank Alfa — Asha Traders obtains a fresh, valid mandate from Riya before attempting to collect again. |