Buckaroo IBAN Solution Premium
With Buckaroo IBAN Solution Premium, the merchant gets a Buckaroo IBAN that has their own merchant name as account holder which is more recognizable on the customers’ bank account. General information regarding Buckaroo IBAN Solution can be found on the Buckaroo IBAN Solution page. Below are the additional implications of the Premium version.
Credit transfers and refunds
Transfers and refunds will still use the Buckaroo IBAN. However, consumers will now see the merchant name instead of Stichting Derdengelden Buckaroo for debits and credits on their bank account. This provides a lot more clarity to customer regarding which party their money came from or which party their money was sent to.
SEPA Direct Debits
SEPA Direct Debits will be carried out using the Buckaroo account as well, rather than being done through a general Buckaroo account. Once again this means the customer will see your merchant name instead of Stichting Derdengelden Buckaroo.
In addition, showing the merchant name in the description part of the bank statement has become redundant since the merchant name is already shown as the initiating party. This leaves more characters for the merchant’s transaction description to be shown on the customer's bank statement.
On top of that, Dutch merchants will also receive their own creditor ID. This is based on the merchant’s Chamber of Commerce number. The creditor ID, like the IBAN, can be found in the Buckaroo Plaza, by clicking on "My Buckaroo" in the left menu and then on "Accounts". Behind "Creditor ID" is the Creditor ID used for SEPA Direct Debits. The advantage of having your own creditor ID is that direct debit blocks set up by consumers at their bank based on the general Buckaroo creditor ID will not affect the SEPA Direct Debits of a merchant with their own creditor ID. Your own creditor ID does not apply if e-mandates (digital direct debit mandates) are used. In that case, Buckaroo's creditor ID will remain in use.
Your own creditor ID does not apply if e-mandates (digital direct debit mandates) are used. In that case, Buckaroo's creditor ID will remain in use.