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SEPA payments and SEPA Direct Debits

SEPA payments and SEPA Direct Debits are intended for:

Characteristics of SEPA payments and SEPA Direct Debits:

  • cashless transfer of funds in EUR within the SEPA area* (including transfers in currency EUR between accounts maintained at Komerční banka, a.s., pobočka zahraničnej banky), regardless of whether the counterparty is a bank SEPA achievable
  • communication with clients via electronic banking (via Profibanka) on online forms or import orders in XML format
  • crediting of the full amount of the transfer to the debtor´s account
  • the fees are the same for all SEPA payments and SEPA Direct Debits within the entire SEPA area*
  • discounted prices for SEPA payments and SEPA Direct Debits to/from clients Komerční banky in the Czech Republic
  • the SIPS payment system (operated by the Národná banka Slovenska) and STEP2 payment system (operated by EBA CLEARING) are used to process SEPA payments

As part of SEPA payments, Komerční banka, a.s., pobočka zahraničnej banky provides:

  • one-off SEPA payment orders
  • multiple SEPA payment orders
  • standing orders in EUR

As part of SEPA Direct Debits, Komerční banka, a.s., pobočka zahraničnej banky provides:

  • direct debit payments based on payment orders for SEPA Direct Debit (direct debit requests) received by the creditor, and SEPA Direct Debit Mandates in writing or via electronic banking (via Profibanka)

Characteristics of SEPA payment:

  • cashless transfer of funds in EUR within the SEPA area (including transfers in currency EUR between accounts maintained at Komerční banka, a.s., pobočka)*
  • compulsory identification of client accounts – creditor/debtor (account number in IBAN format)
  • SLEV fee type (indicated as SLV in the systems of Komerční banka, a.s., pobočka zahraničnej banky) – each participant (creditor and debtoro) settles the fees of their respective bank
  • the payment is transferred to the account at the debtor´s bank by a guaranteed deadline
    • no later than one Business Day after the due date of the order
  • possibility of using additional identification characters for the payment, which will be transferred to the debtor without alteration
    • payment´s reference (End to End = E2E reference)
      • including completion of variable (VS), specific (SS) and constant (KS) symbols in the form /VS[N10]/SS[N10]/KS[N4]
    • remittance information
    • purpose payment
    • debtor´s / creditor´s identification, ulitimate debtor´s / creditor´s identificaciton (name, address and identification data)

Advantages of SEPA payment:

  • Simplicity
    • one account for all payment transactions in EUR within the SEPA area*
    • uniform format XML for all cashless payments in EUR within the SEPA area
  • Speed
    • maximum guaranteed deadline for execution of the payment
    • the advantage of predictability of the execution time for all parties
    • the payment is transferred to the account at the debtor´s bank by the guaranteed deadline of one Business Day after the due date
  • Effectiveness
    • automated processing payments
    • new data field allows for wider specification of SEPA payments for debtors
    • possibility to submit orders in batch via electronic (via Profibanka) between the client and the bank in XML format
      • supported versions – pain.001.001.02., pain.001.001.03. pain.001.001.04.
    • possibility to receive account statements in XML format
    • unification of payment conditions means a decrease in costs
  • The same amounts of the fees
    • the same pricing SEPA payments within Slovakia as well as across borders within the SEPA area
    • SEPA payments to/for Komerční banky clients in the Czech republic are cost advantaged

Characteristics of SEPA Direct Debit:

  • SEPA Direct Debit is denominated only in EUR
    •  debtor gives a consent with Direct Debit (so-called “Mandate”) directly to supplier of the goods or the services (creditor´s payments)
  • the amount of the Direct Debit is unlimited
  • the settlement of SEPA Direct Debit takes place on the same day on the accounts of debtor and creditor
  • Komerční banka, a.s., pobočka zahraničnej banky offers to its clients both sides of SEPA Direct Debit service (debtor and creditor)
    • the client’s account used for SEPA Direct Debit is required to be only in EUR
  • debtor is obligated to fill in a SEPA Direct Debit Mandate in order to use the SEPA Direct Debit service at Komerční banka, a.s., pobočka zahraničnej banky
  • In order to agree the Creditor’s side of SEPA Direct Debit at Komerční banka, a.s., pobočka zahraničnej banky the following is required:
    • conclude an Agreement of this product in bank,
    • CID (Creditor Identifier) assigning, CID in Slovakia is issued by the National Bank of Slovakia, the registration is ensured by client´s bank - the client is not able to request the CID directly in the National Bank of Slovakia
    • make an SEPA Direct Debit Mandate in written form between creditor and debtor
  • clients’ (debtor’s) accounts at Komerční banka, a.s., pobočka zahraničnej banky will be maintained as conditionally opened, requiring
    • SEPA Direct Debit Mandate in writing or in the electronic banking (via Profibanka) by the account holder or an authorised person
    • stipulation of a limit for individual Direct Debit of funds and a minimum number of days between individual SEPA Direct Debits

Advantages of SEPA Direct Debit:

  • execution of cross-border direct debit in EUR within the SEPA area*
  • the fees are the same for all SEPA Direct Debits within the entire SEPA area*
  • SEPA Direct Debits to/for Komerční banky clients in the Czech republic are cost advantaged
  • the possibility to upload batch SEPA Direct Debits vie electronic banking (via Profibanka) – only in XML format
    • supported version – pain.008.001.02
  • entities can manage and plan their cash flow

Want to learn more about this product:

* SEPA area – EEA countries plus Switzerland, Monaco and San Marino (EEA countries comprise the European Union Member States (see the europa.eu website) plus Iceland, Liechtenstein and Norway).

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