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What is a SEPA Direct Debit Refund?


This occurs when the debtor account has been debited with a claim that they do not now wish to pay. There are two types:

Authorised - one day to eight weeks after account debited
The debtor does not have to give a reason. The transaction will be processed and their account credited normally the same day. The Creditor Bank must accept the returned debit.

Unauthorised - between eight weeks and 13 months after account debited
The Debtor Bank has to approach the Creditor Bank who, in turn, liaises with the customer. Whether the debtor subsequently is credited or not, depends on the outcome of this liaison.

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