SEPA direct debit made simple
Our secure cloud based SEPA Direct Debit Manager provides you with full end to end management of all your SEPA direct debits.
Trial period available
Many companies are outsourcing the management of their direct debit processing, contact us to hear what we’re doing for our customers.
Fine companies we're helping
- Volteneo have proven themselves as a valued service provider to our business delivering consistent support over the last number of months since moving to SEPA. Their user friendly cloud solution backed up by excellent support simplified the move to SEPA and will deliver value on an ongoing basis. The team are a pleasure to work with.Louise Carroll - Hanley's Cash & Carry
- I can't thank you enough for all your hard work and fantastic service when it came to getting our first SEPA file accepted by the bank. The online portal is very simple and intuitive to use, much more so than our previous solution which was over-engineered. But it was your extremely high level of service which was the deciding factor in Let's Operate making the switch to Volteneo.Karen McElhinney - Operations Director - Let's Operate
- From the moment we made contact with Volteneo we were expertly guided through the process of moving to SEPA using their cloud based platform. The provision of detailed online tutorials showcasing the system functionality and the back-up of a dedicated Support Team has made what was considered a daunting task, a simple 3 step process. The management of our SEPA direct debit mandates have been greatly enhanced by Volteneo. I would have no hesitation in recommending Volteneo and their online SEPA Direct Debit Manager to anybody. Read more hereFinola Murphy - Group Administration Manager - Property Partners Ltd.
The driver of this change: EU Regulation EU 260/2012, referred to as the SEPA Migration end-date regulation
This regulation applies to all businesses and banks across Europe.
This affects both payments and direct debits in terms of change to data formatting and payment processing times.
This regulation is currently in force, the deadline for SEPA compliance is 1st August 2014.
The objective of this regulation is to introduce standards across Europe within the payments industry. This aims to make the process of making domestic payments the same as cross-border payments, likewise for direct debit collections. Terms such as cross-border and payment harmonisation could be attributed to the confusion that exists across the business community around SEPA. Many believe SEPA is simply a cross-border initiative, this is not the case.
It’s important that all companies understand the affect SEPA Regulation could have on their cash flow should it not be given adequate attention.
SEPA affects direct debits and electronic payments.
SEPA Direct Debits:
SEPA introduces a fundamental change in the management and processing of direct debits.
Many companies use on-line banking portals to manage their direct debit collections, these portals will not be available from August 1st.
Other companies submit files of direct debit transactions to their bank for processing.
It is important to understand the changes applicable under this regulation:
a) XML files need to be submitted to the bank
b) the SEPA scheme rules need to be adhered to in terms of transaction sequencing along with amendment and rejection handling.
It is not enough to create XML files for submission to the bank, the inability to efficiently manage mandate amendments and collection rejections will negatively affect cash flow and likely incur additional bank fees due to your bank handling invalid transactions.
SEPA Credit Transfer (payments):
Many banks will provide conversion services to allow companies maintain payment processing after the Feb 1st deadline. The reason for this is to allow time for companies to decide on the best approach to become SEPA complaint regarding electronic payments, SEPA Direct Debits is receiving most of the attention in the run up to Feb 1 2014.
We make the process of moving to SEPA simple and immediate, our technology and our approach to business makes this possible.
1. Our on-line platform is very similar to existing banking platforms where transactions are managed centrally through a secure internet connection.
Our customers become SEPA compliant within minutes and from that point onwards they manage all SEPA direct debit mandates though our on-line portal.
To further assist companies there is one month free trial of the solution to ensure needs are satisfied. Fees start at €35 per month.
2. For companies wishing to outsource the management of their direct debit processing we manage the end-to-end process allowing our customers to focus on their core business.