The STEP2 SEPA Core Direct Debit (SDD) Service is geared at providing banks in the Single Euro Payments Area with an interbank processing infrastructure for domestic and pan-European direct debits. The SDD Core Service on EBA CLEARING’s STEP2 platform validate, route, clear, settle and deliver direct debit collections in line with the Scheme Rulebooks of the European Payments Council for SEPA Core Direct Debits.

Key features and benefits

  • Highly resilient processing infrastructure

  • ISO 20022 XML messaging supported

  • Payment validation

  • R-messages processing

  • Payment warehousing up to D-14

  • Multiple distribution of direct debit information

  • SWIFTNet communications layer

  • File validation

  • Straight-Through Processing validation

  • Integrated settlement in TARGET2

  • Batch processing service level

  • Real-time browser-based position monitoring