If you’re running business in EU this is must-have module – an automatic SEPA Direct Debit module.

What is Direct Debit?

Direct Debit / Automatische incasso is payment method allowing for automatic charge of customer’s bank account. Your customer submits you with bank information (typically bank name, IBAN and BIC numbers) and agree for future charges. Using those details you then can charge your customer’s bank accounts in automated fashion, without the need to ask customer to submit/authorize bank transfer on their end.

What is SEPA Direct Debit?

SEPA stands for Single Euro Payments Area. SEPA Direct Debit allows charging euros from customer’s bank accounts, provided that customer bank is in Europe and your bank is within SEPA zone.

Why should I care?

SEPA Direct Debit is now implemented in all eurozone countries, and all EUR payments must be collected via SEPA scheme. For other european countries it will become a standard on October 2016. Chances are you are using SEPA already:

• If you’re using some third party payments processors, many of them supports SEPA transfers. In this case you’re not only paying regular SEPA transfer fees, but also your payment processor fee
• You may store mandate details manually or use third party systems for it
• You process bank transfers in manual, old-fashion way

HostBill SEPA Direct Debit module

Our module enables you to:

• Generate SEPA DD batch files to process in your bank
• Import bank statement files (in CAMT.053 and MT940 formats) for processing them for new transactions
• Parse bank statement files for unpaid invoices in HostBill for futhrer transaction processing
• Ask for and store customer bank details
• Store multiple creditor accounts (your bank account details), and attempt to match upcoming direct debits to related account (for lower transfer fees)
• Store mandate details

Learn more & order at: http://hostbillapp.com/products-services/sepa-direct-debit/

Documentation: https://hostbill.atlassian.net/wiki/pages/viewpage.action?pageId=36208665