SEPA direct debit across Europe is extremely advantageous now

Press release

Prague, 13 July 2015 – Charges for SEPA direct debit at Komerční banka are now extremely favourable. Komerční banka’s clients who are payees (billers) pay only CZK 145 for incoming SEPA direct debit, and the charge on the debtor’s side is CZK 195 regardless of the size of the payment. SEPA direct debit within Komerční banka and to/from its branch in Slovakia is also priced more advantageously. Komerční banka is the first in the Czech Republic to offer the SEPA direct debit service to the full extent.

Komerční banka offers its clients SEPA direct debit under extremely advantageous pricing conditions. For incoming SEPA direct debit, KB’s clients pay only CZK 145, and the charge is CZK 195 for the payer (debtor). Charges for any country supporting SEPA direct debit are fixed regardless of the size of the payment.

“Until recently, SEPA direct debit was intended for companies trading abroad. Now, this type of payments has also become available for individuals, who can use this method to pay, for example, instalments on their mortgage loans for real estate outside the Czech Republic, school fees and subscription for magazines. Cross-border transactions are as easily executable and effective for our clients as transactions within the Czech Republic,” said Jana Švábenská, Executive Director for Transaction and Payment Services at Komerční banka.

Komerční banka is the first bank in the Czech Republic to offer its clients SEPA Direct Debit to the full extent from 27 April 2015. So far, it has not been possible to arrange revocable consumer direct debit for payees (the CORE payment scheme) as well as irrevocable direct debit for businesses (B2B payment scheme) with a single bank. Komerční banka now makes it possible for the clients to send and receive payments through SDD from/to a single euro account across Europe to/from countries supporting SDD.