Audience:
Settlement and cancelation
SEPA Direct Debit funding transactions follow a fixed settlement schedule. Until settlement, they can be scheduled in advance or canceled.
Settlement date and booked time
SEPA Direct Debit transactions are booked at 20:00 Central European [Summer] Time (CET/CEST) on the settlement date if no rejection or cancelation has been issued or received. Settlement dates exclude weekends and SEPA holidays.
| Transaction initiated | Booked |
|---|---|
| Before 10:30 Central European [Summer] Time (CET/CEST) | Next business day at 20:00 Central European [Summer] Time (CET/CEST) |
| After 10:30 Central European [Summer] Time (CET/CEST) | Within two business days at 20:00 Central European [Summer] Time (CET/CEST) |
Days are measured as business days. Time is expressed with the 24-hour clock.
After a SEPA Direct Debit funding transaction books, the funds are held in rolling reserve for three business days before they're released to your account.
Scheduling funding requests
If you use requestedExecutionAt when initiating your funding requests, you can schedule them up to one year in advance.
Your scheduled requests must be for at least two business days in the future.
Canceling transactions
Account holders and eligible account members can cancel SEPA Direct Debit funding transactions using the cancelTransaction mutation.
There isn't a dedicated mutation for funding transactions: cancelTransaction is the same mutation used to cancel any other transaction.
To understand if a transaction is cancelable, check the isCancelable field of the transaction. This field returns true if the transaction can still be canceled, and false if the cancelation window has passed.
Only the full amount can be canceled. Transactions can only be canceled until the last business day before settlement, at around 10:00 Central European [Summer] Time (CET/CEST).
After this cutoff time, the transaction can't be canceled and proceeds to settlement.