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0 pointsjotm10y ago0 comments

Can you tell me if SEPA provide some kind of buyer protection? I bought a few parts on eBay and paid with SEPA, but there's no mention of any protection in case the seller is fraudulent, felt a bit uneasy unlike when paying with Paypal :-). Do you just call the bank and tell them to reverse the transaction? Thanks!

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MrBuddyCasino10y ago

For basic SEPA, You can order the bank to reverse the transaction for up to 8 weeks afterwards. There are different kinds of SEPA transfers though, and I think its different between companies.

wolfgke10y ago

There are two kinds of SEPA direct debits (Lastschrift):

  - SEPA Core Direct Debit
  - SEPA Business to Business Direct Debit

(source: https://de.wikipedia.org/wiki/Lastschrift#Arten_der_SEPA-Las...)

Only the first one is used when you buy things in the internet (the second one is only important for B2B transactions). It can be reversed without giving any reasons for 8 weeks. If you have not authorized (in other words: it was fraudulent) even for 13 weeks. If you reverse it, though it was legal, it's the vendor that has the problem (and has to collect the money). That's why often only larger vendors will accept SEPA direct debit (small vendors will often insist that you use SEPA credit transfer instead that is a lot less customer-friendly in case of a fraudulent vendor). SEPA credit transfer is in my opinion not suitable for "fast, spontanous" payments, though, for reasons I won't explain here.

joepie91_10y ago

Generally your bank will handle these issues, yeah. SEPA is more a protocol than a service.

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