In this article you will learn: How automated SEPA direct debit runs work, how the same-day payout process works, and how returns are managed within your System.
- Automated SEPA Direct Debit Runs
- Same-Day Payout
- Managing Returns in your System
- Direct Debit Process
Automated SEPA Direct Debit Runs
Automated SEPA direct debit runs enable efficient and fast processing of payments. You can submit direct debit collections either through your System or the public API of Finion for other customers.
Same-Day Payout
The payout process occurs on the same day as the direct debit collections, ensuring quick and efficient liquidity for your studio.
Managing Returns in your System
Returns are managed in your System. Return fees are passed on to the studio by Finion as usual, with no additional fees charged by Finion.
Direct Debit Process:
Direct debit collections can be submitted through your System from the “Finance” section or the Finion API.
- Finion performs a small acceptance check and rejects in the following cases:
- IBANs that are on Finion's rejection list (e.g., test/fake IBANs)
- Submissions may be rejected if Finion has placed a block on a particular studio
- Accepted claims are processed via EBICS by UniCredit as our FDD processing bank.
- Your member will see the direct debit in their online banking as follows:
- Finion Capital will be displayed as the payee
- Direct debit purpose: Collection for STUDIO XY / 25--0340-0000071 Membership fee 29.9 28.08.23-03.09.23.