R-Transactions
In the SEPA scheme, R-transactions are all actions that are considered to be exceptional. They mainly include the rejections of direct debits, both on the part of the payer (debtor) and on the part of the payee (creditor). The SEPA payment traffic regulations define comprehensive R-transactions, which apply to credit transfers and direct debits. Furthermore, they define precise processes and fixed deadlines for handling the exceptional situations that arise. Most of the processes relate to SEPA direct debits, as in this case both the debtor whose account is debited and the creditor who debits the debtor’s account can initiate an R-transaction. R-transactions are mostly systematized by their settlement date, as they can be initiated before or after the due date of the payment.
R-transactions for SEPA direct debits
The following R-transactions can be instructed before the payment settlement:
The “Reject” transaction invokes the rejection of the payment by the creditor’s bank, for example, if there is a format error or a technical error on the part of the bank. In the “Refusal” transaction, the debtor liable for payment returns the SEPA direct debit independently and before the account is debited if, for example, an unauthorized direct debit has been received. With the “revocation” transaction, on the other hand, the direct debit issuer (creditor) recalls the direct debit itself by means of an emergency process if a direct debit was initiated in error, for example. The “Request for cancellation” transaction is carried out by the creditor’s bank, for example if a direct debit was submitted twice.
If a payment has already been cleared, certain R-transactions can reverse it. The “Return” transaction initiates the return of the SEPA direct debit by the debtor’s bank if, for example, the beneficiary account number is incorrect. The “Refund” transaction allows the customer whose bank account has been debited to object to the direct debit if it does not appear to be justified. The “Reversal” transaction initiates the recalculation of a direct debit on the part of the originator, for example, if the direct debit was ordered incorrectly.
R-transactions for SEPA credit transfers
An R-transaction can also occur for a SEPA credit transfer both before and after the due date. The “Reject” transaction also occurs here before the due payment amount is settled and is initiated by the bank if a debtor has ordered an incorrect transfer or there are technical errors. The “return” transaction also occurs in the case of SEPA credit transfers after settlement and is initiated by the payee’s bank if, for example, the account number specified in the transfer is incorrect. The “recall” transaction can occur both before and after settlement and is initiated by the payer’s bank if, for example, there is a double execution.
