SEPA Core Direct Debits (SDDs) allow you to make domestic and cross-border (debit) funds collections in euros in all SEPA member states.
To arrange an SDD, you’ll need to provide your consent via a signed mandate. This is the authorisation given by the debtor (you) to the creditor (biller) allowing them to initiate collection from your account. There are two different types of SDDs:
The legitimation for a SEPA direct debit is the mandate, the expression of consent and authorization given by the debtor to the creditor to allow the creditor to initiate collections for debiting the debtor’s account. Currently, there are two different types of SDDs:
- SEPA Core Direct Debits
- SEPA Business-to-Business (B2B) Direct Debits
Holvi supports SEPA Core Direct Debits
Holvi supports SEPA Core Direct Debits, allowing a biller to collect funds directly from your Holvi account, provided you’ve signed a mandate granting permission. These direct debits can be done as one-time or recurring transactions.
Holvi does not support SEPA B2B Direct Debits
Unfortunately, Holvi does not support B2B (business-to-business) direct debits. Please share this information with the biller and check if there is an option to switch to SEPA Core or a different payment method.
Can I request a refund for a SEPA Core Direct Debit?
Yes! To request a refund, please reach out to us via live chat or submit a request here. If possible, we’ll credit the funds back to your account. Read on for more information.
An authorised SDD (with a valid mandate) grants you the right to a refund during the 8 weeks following the debiting of your account. During this time any funds collected via the SDD Core scheme will be credited back to your account upon request. Holvi will refund the entire amount within 10 days of receiving a refund request.
In the event of any unauthorised direct debit collections, your right to a refund extends to 13 months.
You can read more about our payment returns policy in Section 12 of our Terms of Service.
I have insufficient funds, will a direct debit go through anyway?
No, if you have insufficient balance to cover the full amount of a direct debit when it is due, your payment will not go through. We are unable to repeat a direct debit once you add funds.
To pay your bill, please ask the biller to resend the direct debit or agree on a different payment method.