SEPA mandates and accounts receivable agreements for direct debiting

Requirement

Most direct debiting processes are based on a customer agreement. This agreement allows the supplier to withdraw money from the customer’s bank account.

M3 solution

The administration of customer agreements, that is, mandates for SEPA, is supported by M3. These agreements can be validated during the creation of a direct debiting proposal.

Optionally, specific requirements from SEPA mandates can be handled. Mandates can be entered using the CORE and B2B direct debiting methods per customer bank account and date range. Different mandate statuses are handled: first, recurring, last, or one time. The last payment date and the mandate status can be automatically updated using payment reversals. Mandate change can be handled.

Optional customer agreements can be uploaded using an electronic message.

In this country, mandates are used for SEPA direct debiting. The electronic upload file format is currently not supported.

Configuration guidelines

Not applicable.