What are SEPA Business to Business (B2B) Direct Debits and how do I accept them?
Normally, accepting a business to business direct debit requires you to send a signed form to your bank and, after acceptance, it cannot be easily changed. We decided to do this differently- when another company sends a mandate form you can simply write down your bunq IBAN and send it back to them, no need to send us a copy! 🙌
When the company then gives the form to their bank, they will send the first direct debit. You will see this as an event in the app, which you can accept or decline. It's that easy! 👍
Upon accepting the mandate you’ll accept all future direct debits from that party and the limit is automatically set based on the original amount. You can always change the limit of both the mandate and your bank account at any time.
Did you receive a direct debit on your bunq bank account?
Personal direct debits: You have five days to accept or decline before it expires and is automatically accepted.
Business direct debits (B2B): you have 1 day (24 hours) to accept or decline before it expires and is automatically accepted.
You can also choose to automatically decline them after expiry to have the maximum control over your money. To no longer automatically accept them, go to Home > Sub-account > Settings > Automatic Debits.
You are always able to select another sub-account, for both paying directly or upcoming recurring direct debits.
Find out how to pay Direct Debits and learn how to accept all future Direct Debits in the video and process below:
- Tap on Events
- Select the awaiting event
- You can choose between Always accepting this Direct debit or to Accept only this direct debit
- Enter your security code
- Done 👍
What to do if a direct debit got accidentally declined?
In this case, you can contact the debiting company and transfer the amount you owe manually.
How to manage my Direct Debits?
You can easily manage your direct debits with the following steps:
- Open the bunq app
- Tap on your Sub-account
- Tap on Settings in the top right corner
- Choose Authorized Direct Debits
- You can change the limit or delete the merchant from this list
Please note that only the owner of the accepted direct debit can change the limit
Q: How do I set it up with the company that offers the service?
A: If a company makes use of B2B Direct Debits they will send you a form to fill out. Normally you will send this form back to the company and a copy to us (the debiting bank). With bunq you don't do the 2nd part and only return the form to the company (Creditor). The company will inform their bank to submit the debit request and you will get a push notification in the bunq app and have 1 day to accept the mandate.
Q: How do I set it up in the app?
A: No need to set anything up, just wait for the 1st Direct Debit request to appear on your timeline and accept the request. You have 1 day to accept the request.
Q: Can I refund or storneer a B2B SDD?
A: No, B2B Direct Debits are non-refundable. Make sure that the mandate reference and creditor ID correspond with the documents you signed.
Q:Is there a max amount a B2B SDD can remove (i.e. does it conflict with daily limits
A: We set the limit to the amount of the 1st debit request and you can adjust this limit. If any of your limits are bridged you will have toe opportunity to approve the debit request again, updating the limit for future requests.
Q: Can I go below 0 through a B2B SDD?
A: No, if you do not have sufficient funds on your account the B2B Direct Debit not go through and we give you a day to top up and accept the debit.
Q: Does this mean I can issue SDDs and send them to consumers?
A: No. That's still on the wishlist and can be done by a PSP in the meantime, for instance Buckaroo/Mollie
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