What is SEPA Direct Debit?
A SEPA direct debit is a payment instrument for cashless payments. The payee debits money from the account of the payer. To do this, he requires a form signed by the debtor, the SEPA Direct Debit Mandate. Only then is the Creditor authorised to debit funds one or more times.
This type of payment is often used when paying invoices for recurring amounts (standing orders). For example, rent payments. In addition, almost all major internet service providers and merchants offer the option of paying by SEPA direct debit.
SAVE TIME AND MONEY
Fewer payment defaults
By automating collections from your customers, you will receive payments on time. Eliminate manual processes and failed payments quickly and easily.
Manage payments right
- 100% visibility of incoming payments and outstanding invoices
- Full transparency on the status of your payments
- No more organizational chaos: you have all information in one place
EASY, TRANSPARENT, AUTOMATED
Value for your customers
Customers can easily set up the entire process online.
Reduced manual effort through automated collection.
Less stress from missed invoices.
No direct debit charges without prior approval.
How it works
- Open a Penta account in 48h
You apply for a Penta account quickly and completely digitally. We verify your documents and open your new Penta account within 48 hours.
- Apply for a creditor identifier
To use the direct debit method you need a creditor identification number. You can apply for this number in advance at the Deutsche Bundesbank. We are happy to support you with the registration procedure.
- Register for Direct Debits
After opening your account you can register for the Direct Debit scheme. As soon as the credit check is completed, you can set up your Direct Debits.
Are you looking for a business account with Direct Debits? Get started now.
To enable you to set up SEPA core direct debits at Penta, four steps are necessary:
- Send us an email to firstname.lastname@example.org or register for SEPA core direct debits in your Penta account via the tab “Direct debits”.
- Confirm the general terms and conditions for direct debit, consisting of conditions for direct debit and conditions for tolerated overdrafts.
- Apply for your creditor identifier.
- Go through the credit check and make sure that you are using a Penta Premium Plan.
After you successfully registered, you receive your collection limit and you can start creating Direct Debits as well as check the status of your Direct Debits in your account in the menu section “Direct Debits”.
In general, Direct Debits are available to all Penta customers on the comfort plan, which match the following criteria:
- Businesses with a legal form, which is register in the commercial register.
- Businesses, which are older than 12 months.
- Businesses, which have a credit score that is stored at Creditrefom.
We can currently support those legal forms: GmbH, GmbH & Co. KG, KG, eK and OHG.
The Penta team does not require additional information to start the registration process but your confirmation of the T&C’s. We start the credit check as soon as you accept the T&C’s. In the meantime, you can already apply for your creditor identifier at the Deutsche Bundesbank to get started immediately once the credit check was successfully finalized. In addition, you need to send your customers a Direct Debit mandate, which has to be signed by them to authorize you to collect money from their accounts.
For each Direct Debit, we charge a fee of 0.30 €. Direct Debits are available in all plans.
We offer SEPA Core Direct Debits, which allows you to collect payments from individual and business customers.
Yes, you can! Direct Debits are especially useful to collect recurring payments but it is also possible to collect one-off payments.