Closure of the SEPA Business Service – SBS. Are you affected?
The SEPA Business Service (SBS) for processing Direct Debits against Business Debtors closes on February 1st 2016.
All Debtors, including Business Debtors, will be able to claim a “no quibble” refund for up to eight weeks on all SEPA Direct Debits posted to their Account on or after February 1st, 2016.
The SBS scheme was originally introduced to give Creditors confidence that monies collected from Business Customers by Direct Debit under the SEPA Scheme would not be automatically refunded by their Bank in the event of a claim from the Debtor. This was a reasonable measure during the initial SEPA implementation […]