Hi All,
Can somebody share the complete basic data setup for SEPADD payment in IFS ?
Best Regards,
Vindya.
Solved
Basic Data for SEPADD
Best answer by Eranda
Hi Tom,
IFS still doesn't support direct debit version via ISO20022. As you know ISO20022 is only for credit transfer. i.e. for supplier/vendor payments. Direct debit is common in EU/UK which allows supplier to deduct money from customer’s account under the pre-agreed conditions which is call “Mandate”. So, SEPA DD is for customer side and it is governed under European Payment Council (EPC) guidelines.
Attached herewith the standard overview of SEPA CT and SEPA DD payment setup. Please note the document is bit old. But, if I remember correctly there were no big changes recently other than few legislation adjustments such as removing “IBAN only rule”, “Mandate sequence types”.
If you have specific questions, please don’t hesitate to raise.
This topic has been closed for replies.
+11Hi Tom,
IFS still doesn't support direct debit version via ISO20022. As you know ISO20022 is only for credit transfer. i.e. for supplier/vendor payments. Direct debit is common in EU/UK which allows supplier to deduct money from customer’s account under the pre-agreed conditions which is call “Mandate”. So, SEPA DD is for customer side and it is governed under European Payment Council (EPC) guidelines.
Attached herewith the standard overview of SEPA CT and SEPA DD payment setup. Please note the document is bit old. But, if I remember correctly there were no big changes recently other than few legislation adjustments such as removing “IBAN only rule”, “Mandate sequence types”.
If you have specific questions, please don’t hesitate to raise.
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