Business clients › Merchants and service outlets › Direct debit for the beneficiary › Overview
Direct debit for the beneficiary
Collecting payments through our direct debit service is convenient – it makes for a simpler issuing of bills and a convenient payment method for Your client.
The advantages of collecting payments through direct debit:
- Planning money flow: the payments will reach You on time
- Saving time and money, which would be taken up by issuing bills and dealing with incoming payments
- Reduction in overdue charges: convenient and complementary payment method increases the amount of bills paid on time
- Competition advantage: direct debit is convenient for Your clients
Direct debit can be used to collect both periodic, single and irregular payments.
From 14 June 2007 a direct debit service across banks is in place, which allows the clients to make domestic direct debit contracts even if the accounts of the payer and the beneficiary lie at different banks.
Direct debit service across banks
Direct debit service across banks is, for the beneficiary, similar to the regular direct debit service.
By signing the contract, the beneficiary can collect payments from clients of other banks that have joined the service. This means, the beneficiary does not have to make multiple contracts with different banks, just one with Sampo Pank that gives access to the direct debit service across banks.
The beneficiary will be applying the technological solution of Itella Information, our partner in managing the across banks service, to send requests and mediate payment contract information.
Sampo Pank, Swedbank, SEB Bank, Eesti Krediidipank, Nordea Bank, LHV Bank and Tallinn Business Bank have all joined the service. Itella Eesti acts as the technological partner to the banks.
The new across banks service does not replace Sampo Pank’s direct debit service but offers a complementary way of collecting direct debit payments. Joining the service is not mandatory – Sampo Pank’s own direct debit service will continue to work as before.
The technical requirements and descriptions are available through Itella Information home page (in Estonian). Applying the new service presents the beneficiary with no additional expenses.
How to join?
- In order to join the across banks direct debit service, please fill out the application. The contract can be signed at all Sampo Pank offices.
- In case of questions, please call our Business Client Info (+372) 6 752 000 or send us Your contacts and we will get in touch.