Archived 2022.12.11. Content moved to Guidance on direct debits
Question
In the ResponseBankingDirectDebitAuthorisationList schema, the BankingDirectDebit list contains the BankingAuthorisedEntity
. Is it required to return the financialInstitution
of the BankingAuthorisedEntity
? The BankingAuthorisedEntity
is the merchant that debits a consumer account.
Answer
Yes, the financialInstitution
is required, unless the payment is made via a credit card scheme. The merchant financialInstitution
is contained in the direct debit, that the customer institution receives via BECS, and is retained in the transaction history.
The records used in the ResponseBankingDirectDebitAuthorisationList response are expected to be derived from the transaction history.
In industry consultations it was determined that the customer's financial institution typically does not have details of the direct debit authorisation. The authorisation can be determined only from the debits, received via an industry mechanism such as BECS.
See:
- CDS BankingDirectDebit
- CDS BankingAuthorisedEntity
- Direct Debits
- Definition of Financial Institution
- External vs Internal Direct Debits
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