What does Brexit mean for you?
As of January 1st 2021 the Brexit transition period will have ended which has consequences for payments towards, and direct debits from, bank accounts held with banks in the United Kingdom.
European laws and regulations dictate that from this date additional requirements apply to these payments and direct debits.
Euro Payment (SEPA Credit Transfer - SCT) and Instant Payment (SEPA Instant Credit Transfer - SCTInst)
For a Euro Payment towards a beneficiary in the United Kingdom, Rabobank enriches the full address details of the originator. Therefore no adjustments are required for Euro Payments.
Euro Direct Debit (SEPA Direct Debit - SDD CORE and SDD B2B)
For a direct debit the full address details of the debtor must be provided as of January 1st 2021 when funds are collected from an UK account. This applies to both manually entered direct debits as well as direct debits which are imported via pain.008.001.02 file format.
Without the full address details of the debtor it is likely that the direct debit order will be rejected by the bank in the United Kingdom.
When importing direct debit orders via the pain.008.001.02 file format, the following elements must be provided:
If you have any questions about the pain.008.001.02 file format, please refer to our updated format description onwww.rabobank.nl/seb-enunder the section "Initiation of payment and direct debit files".
For Worldpayments cost option OUR (=all costs for ordering customer) and BEN (= all costs for beneficiary) are also allowed besides cost option SHA (=shared costs).
For more information and FAQ’s about the updated regulations please visit our webpage: