Review draft. Customer and merchant agreements take effect only after legal approval, publication and any required acceptance.
Submitting an instruction
The service should show the amount, currency, relevant fees, recipient information, payment route and required authorization before submission. The effective terms must define when an instruction is received, when it may be refused and what information or correction is required.
Processing stages
Submission, authorization, capture, clearing and settlement describe distinct events. A provider confirmation and reference support each recorded stage. A pending reserve may change available funds before settlement. A rejection, expiry or return requires its own record.
Transfers and finality
The approved provider must disclose supported SEPA routes, expected execution, cut-off and non-business-day rules, name verification where required, returns, recalls and any limitations. Do not assume that a submitted or captured transaction has reached final settlement.
Uncertain or duplicate instructions
When confirmation is delayed, check the existing reference and provider status before trying again. The approved procedure must explain how duplicate instructions are identified, when cancellation is still available and how any resulting adjustment appears in the transaction record.
Errors and reconciliation
Report an unauthorized, duplicate, failed or incorrectly executed payment through the responsible provider’s verified channel. Retain its date, amount and reference. Reconciliation should match provider evidence to ledger and adjustment records before correcting balances.
Approval and publication requirements
Confirm the providers, rails, payer and payee disclosures, authorization and execution rules, operational cut-offs, evidence and statutory remedies.