Hey bunqers 🌈
In the world of banking and finance, SEPA Business to Business (B2B) Direct Debits play a crucial role in facilitating transactions between businesses. But what exactly are they, and how can you, as a bunq user, accept them? This topic will provide a comprehensive overview of SEPA B2B Direct Debits, explaining their purpose, how they function, and the steps you need to follow to accept them through your bunq account.
How do I accept SEPA B2B Direct Debits?
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.
How does it work in the app?
Here's how it works in the app:
- Go to your 👤 Profile tab
- 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 👍
You have 1 day (24 hours) to accept it before it expires and is automatically declined.
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