Direct Debits

This folder is about everything related to direct debits.

Are SEPA direct debits on my Penta business account always free of charge?

Direct debits that others collect from you on your Penta business account are always free of charge. Direct Debits that you collect from others on their...

How do I setup a company direct debit mandate to debit my Penta business account?

Within the SEPA zone there are two types of direct debit mandates: Private and Corporate Direct Debits. While the private direct debit is very simple an...

What are SEPA Core Direct Debits?

SEPA Direct Debit allows you to automatically debit one-time or recurring payments from your customers' accounts.  At Penta we offer the SEPA Core ...

How do I register for SEPA Core Direct Debit with Penta?

If you would like to use the SEPA Direct Debit procedure, please contact our customer service. We will then guide you through the following process: C...

Why does Penta perform a credit check before I can collect direct debits?

Your customers have the legal right to reclaim payments collected with the SEPA procedure within eight weeks.  If your account is insufficiently covered...

How does the credit check work to set up SEPA Direct Debit?

Please first apply to set up the SEPA Core Direct Debit process by sending us an email to help@getpenta.com. We will then start the credit check. I...

Where can I find out more about the probability of default?

The probability of default is provided to us by our partner, Creditreform, a leading provider of credit reports in Germany. The credit report relevant for P...

How can I find out my probability of default (PD)?

Every company is entitled to receive a free self-disclosure from Creditreform. To request one, please go to this website and follow this process:  Find...

What is the Creditor Identifier?

The Creditor Identifier is a unique reference number for companies that collect payments by direct debit.  It must be entered for each direct debit and ...

How does direct debit collection limit work?

The direct debit limit is the amount you can collect in a rolling period of 8 weeks.  Once you have collected a direct debit, your collection limit will...