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Q. Someone has debited my bank account and the references is "SEPA DD". Who took my money?
A. Bank of Ireland display the description "SEPA DD" on their Banking Online system for all direct debits on the first day the debit is processed. The next day they display the name of the company who debited your account. If you do not know who debited the account you can either wait until the next day and check online, or you can phone your bank to get details. Remember that the SEPA rules state that you are entitled to request a refund of any SEPA debit transaction for up to 8 weeks if you are unhappy with the transaction. Contact your bank if you wish to avail of this right.
Q. I do not want to change from my existing direct debit system. Can I continue to produce the EMTS files?
A. No. The legacy EMTS system (and all other legacy systems across 32 countries) will be switched off on 31st January 2014. Only SEPA direct debit transactions will be accepted from that date.
Q. Is the SEPA direct debit file very different from the EMTS file?
A. Yes, the SEPA direct debit file complies to XML ISO 20022 Standard. In EMTS there was 1 line per debit transaction. In SEPA XML there are approximately 40 lines per debit transaction.
Q. My software supplier cannot upgrade my direct debit software. What are my options?
A. You can check out alternative suppliers and implement a replacement system. You could also consider the SEPA Converter which we supply to convert the EMTS files to SEPA XML files.
Q. How do I submit the SEPA XML file?
A. Most banks are providing a new facility on their electronic banking systems to allow secure upload of the SEPA XML files. You should contact your bank to ascertain when this will be in place for your bank.
The SEPA initiative by the EU commenced in 2002 with the aim of allowing seamless transaction flow between banks within the Single Euro Payments Area ... More
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