Following the 18th November 2016 change to SEPA Direct Debit scheme framework, we now process all Euro Direct Debit payments through the improved faster Core scheme.
The following payment timings presume that all required actions are completed before 4pm. If the customer's authorisation or the payment creation is completed after 4pm, there would be an additional day in the process. (Monday is used as the example start day).
For all payment collections, whether customer has an active mandate or not:
Mon (Day 0) - Payment created. Notification email sent to customer.
Tues (Day 1) - Payment submitted to the banking system for processing at 4pm.
Wed (Day 2) - Payment processed by bank.
Thur (Day 3) - Customer charge date
Fri (Day 4) - Payment status confirmed.
Sat & Sun - nothing happens
Mon (Day 5) - Funds paid out to merchant by GoCardless.
Tues (Day 6) – Merchant receives funds