The SEPA product range
As a general rule, the new SEPA payments products can be differentiated in two categories:
The basic SEPA products
These are the SEPA credit transfer and the SEPA direct debit which correspond to the fixed requirements of the Rulebooks.
SEPA Credit Transfer:
The new European credit transfer is largely comparable to the EU standard credit transfer that is mostly used in Germany, but without the EUR 50,000 limit.
SEPA Direct Debit
The European direct debit is the first uniform payments tool for cross-border direct debit transactions.
The SEPA Additional Optional Services (AOS):
In addition to the rules of the Rulebooks which are binding for all participants in the SEPA payments, the SEPA data model allows the development of additional optional services or products. This will be used by WestLB to create customised special solutions in dialogue with you - our customers.
In addition to the products and services offered by individual providers, so-called Community AOS may be implemented by groups of institutions such as Sparkassen-Finanzgruppe.