SEPA direct debit is a non-cash payment in euros within the SEPA area. It is conducted on the basis of an order from payment beneficiary and the payer grants consent (mandate) to SEPA direct debit execution.

The product is intended for all clients with activities abroad. Do you pay rent, vacation or telephone bills? You can make use of SEPA direct debit for making any regular or single payments.

SEPA direct debit can be used in SEPA countries (countries of the Single Euro Payments Area) representing all countries of the European Union along with Iceland, Liechtenstein, Norway and Switzerland.

What does it offer?
Every Tatra banka client with an opened current account in euros is free to execute cross-border direct debit payments in countries of the EU and EEA:

• Simply - an easy way of making payments for goods and services. The client only activates SEPA direct debit and makes use of its benefits.
• With no risk - no payment delay and related consequences.
• Cheaply - SEPA direct debit charges for payments up to EUR 50,000 equal charges for domestic payments.
• Fast - the date the payment is debited from payer's account equals the date the payment is credited to beneficiary's account.

What does it cost?
Currently valid SEPA direct debit charge is available in the Service Charges.

Are you interested to know more about the new product?
We will be glad to present and activate it for you at any Tatra banka branch.

The entire process unburdens the payer from unnecessary activities and leaves all duties to be provided by Tatra banka and payment beneficiary.
Use of the product requires collaboration of several parties: payer, payment beneficiary and their banks.

SEPA direct debit process
1. Steps taken by payer

• Signing consent - Payer or payment beneficiary agree upon purchasing a service or product to use SEPA direct debit as the remittance means.
• Accessing account - Payer makes the account available for SEPA direct debit upon a visit to Tatra banka, authorising the payment beneficiary to send calls for SEPA direct debit.

2. Steps taken by beneficiary

• Notice of remittance - In case the transaction is executed or payment for services is made, payment beneficiary notifies the payer of payment date and sum at latest 14 days before the actual clearing date.
• Call for direct debit - Payment beneficiary sends a call for remittance via their bank to the payer's bank.

3. Steps taken by bank

• Debiting money from account - If the payer made his account available for SEPA direct debit payments, the payment will be debited from the payer's account on the clearing date.
• Crediting money to beneficiary's account - Money is credited to the beneficiary's account on the same date.

Client's current account is maintained in euros and at the same time it is made available for SEPA direct debit at different levels, which can be changed by the client:

Level 1 - enables to execute all payments from client's account on the basis of a received call for SEPA direct debit.

Level 2 - only those payments the payer has granted SEPA direct debit authorisation (mandate) for also in Tatra banka will be debited from client's account on the basis of a received call for SEPA direct debit.

Requirements for placing SEPA direct debit authorisation in Tatra banka:

• SEPA direct debit mandate reference / Unique Mandate Reference
• Payment beneficiary ID / Creditor Identifier
• Maximum limit for direct debit payment

If the payer provides the bank with no information of SEPA direct debit authorisation, call for SEPA direct debit will be rejected.

Level 3 - no payment related to SEPA direct debit will be executed from client's account and call for SEPA direct debit will be rejected.

Client accounts in EUR are set for Level 2. The client is allowed to change the account access level for free.