Timelines

SEPA Direct Debit Timeline

The timeline lists the different stages of a SEPA Direct Debit and is accompanied by an explanation.

Stages

1. Authorization Submission:

   • You can submit an authorization up to one year before the collection date.

2. Notification:

   • Notification needs to take place at least 14 days prior to the collection date, unless agreed otherwise with the debtor.

3. Bank Submission:

   • Buckaroo submits the authorization to the bank on the day prior to the display in the consumer’s banking environment.

4. Bank Waiting Day:

   • When an authorization is submitted, the following day is a bank waiting day (one day prior to the collection date).

5. Collection Date (D):

   • On this day, money is debited from the debtor's account and credited to the beneficiary's account.

6. Bank Statement Display:

   • Direct debit amounts are displayed on the bank statement 0 to 5 days following the collection date.

7. Reversals of Payment:

   • Reversals of payment are displayed on the bank statement 0 to 56 days following the collection date. This right only applies to SEPA Direct Debit Core (B2C or consumers) authorizations.

8. Report Unjustified Direct Debit (MOI):

   • Report Unjustified Direct Debit (MOI) is mentioned on the bank statement 56 days up to 13 months following the collection date. This right no longer applies when consumers use a Digital Direct Debit Authorization.