SEPA Direct Debit

Table of content
General information about SEPA Direct Debit
Which type of Direct Debit does Holvi offer?
What do I have to do if the Finnish IBAN is not accepted on the provider's website?
What do I do, if a company informs me that they do not accept the Finnish IBAN?
Can I trust a Finnish IBAN? 
What happens, if don't have enough balance on my account for Direct Debit? 
How can I revoke a Direct Debit?
What are the fees for a direct debit?
How can I activate the direct debit?
Companies that accepted SDD from Holvi accounts

 

General information about SEPA Direct Debit
Holvi has become direct partner of SEPA in September 2016, and therefore we have since then offering our own IBAN and BIC. This important step allows us to further expand our offer. The direct SEPA participation with a Finnish IBAN for example allows us to now offer SEPA Direct Debit with Holvi accounts. 

 

Which type of Direct Debit does Holvi offer?
Holvi supports SEPA Direct Debit Core (SDD Core), which allows your business partners to collect money from your account. At the moment, we do not offer the other direction, that allows you to collect money from your customers’ accounts.
Holvi does not support SEPA Direct Debit B2B (SDD B2B).

 

 

What do I need to do if the Finnish IBAN is not accepted on the provider's website?
In this case, please contact the provider briefly to enquire the reason why they didn’t accept the SDD. Some companies, e.g. the German finance authority, do accept the Finnish IBAN even though their website may show an error message due to technical reasons. 

 

What do I do, if a company informs me that they do not accept the Finnish IBAN?
We would like to ask you to fill in this Form (scroll to the end of the page).We’ll treat your request with high priority and inform our Compliance department.  

  

Can I trust a Finnish IBAN?
Of course! We are authorised by the same regulating authority as traditional banks. Holvi is a payment institute licensed by the Finnish Financial Services Authority “FIN-FSA” and is allowed to offer services in all of Europe. We are offering our services in Germany according to ZAG (Zahlungsdiensteaufsichtsgesetz - ZAG § 26 - Companies with seat in a different state within the European Economic Area).

 

What happens, if I don't have enough balance on my account for Direct Debit? 
Your account must have enough balance available in order for us to be able to deduct the direct debit. In case there is not enough balance available, the direct debit will not be carried out. A direct debit that has been declined once cannot be re-activated, so you will have to carry out the payment yourself. 

 

How can I revoke a direct debit?
It is possible to return an authorised SEPA Direct Debit Core (with a valid mandate) to the presenter within eight weeks, i.e. the bank debit will be reversed. If a SDD Core was unauthorised (i.e. no valid mandate exists) the bank debit can be reversed within 13 months. To revoke a Direct Debit, please send an email to support@holvi.com. 

 

What are the fees for a direct debit?
A direct debit transaction is a regular SEPA transaction and therefore the fees are the same as for all other transactions on your account. That means, for a Basic account the fee is 50 cents. For a Pro account it is free if it is one of the first 50 transactions of the month, after that the fee is 50 cents as well.

 

How can I activate the direct debit?
If a company wants to collect via direct debit from your account, you only have to give permission to that company. Holvi does not have to be informed about this separately, as the sending bank will contact us in the background to request the direct debit.

  

Companies that accepted SDD from Holvi accounts
Here is an overview of the companies that accept the Finnish IBAN. This list will be updated regularly.

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