SEPA Direct Debit

What is the SEPA Direct Debit?

A SEPA Direct Debit is a way of making recurring payments from an account in euros to another account in euros within the Single Euro Payments Area (SEPA).

A SEPA Direct Debit is an agreement between a payee (also called an Originator) and payer to pay a set amount at a set frequency until the agreement ends, this is known as a mandate.

SEPA Direct Debits will normally be debited from your account on the date agreed with the originator, if this date falls on a weekend or bank holiday it will be taken from your account on the next working day, as they are only processed on working days (not weekend or bank holidays).

SEPA Direct Debits can be used to make recurring or regular payments, frequency can be weekly, monthly, quarterly or annually.

Acceptance of SEPA Direct Debits as a payment method is at the discretion of the payee and not all payees will accept SEPA Direct Debit as a payment method.

How does SEPA Direct Debit Work?

To make a direct debit payment you will need:

  • A euro bank account with a payment service provider registered for SEPA services
  • A signed mandate containing the following:
  • Originator details
  • Payment due date
  • Frequency of payment
  • Charge amount

A mandate can be in either an electronic or paper format.

You will receive a notification from the originator confirming the direct debit has been set-up with details of how much and when the first payment will be taken.

SEPA services from Contis

Contis uses the Bank of Lithuania’s CENTROlink platform to provide our SEPA Services. CENTROlink provides a gateway to all SEPA Services enabling Contis to offer SEPA Services.

International Bank Account Number (IBAN)

Contis will provide clients and consumers with their own International Bank Account Number (IBAN) which can be used to send and receive SEPA payments. Your customers can make a SEPA payment using our mobile app or portal or through our APIs.

Important! Acceptance of SEPA Direct Debits – as a payment method – is at the discretion of the payee. Some payees may not accept SEPA Direct Debit as a payment method, or accept direct debits from countries other than those in which it is based. Contis issues Lithuanian IBANS (code: LT).

Bank Identifier Code (BIC)

Contis has a SEPA compliant Bank Identifier Code (UFPOLT21XXX), which is registered with SWIFT.

API information for developers

Developers can visit our API reference pages for information about the DirectDebit methods – including parameter requirements and example requests and responses:

See: Direct Debt

FAQs

When can I have SEPA Direct Debit?

SEPA Direct Debit and SEPA Credit Transfers are available now.

How long does it take to set up SEPA Direct Debit?

You have the option of using our mobile app or account portal or our APIs for making SEPA Direct Debit payments.

Once you are configured in the Contis production environment we will ensure you are ready for making payments by direct debit by working with you to ensure everything is working as expected ahead of you going live with your service.

Further information

The Contis registered office address in Lithuania:

Uab “Finansines paslaugos” Contis
Menulio str 11-101
04326, Vilnius
Lithuania