Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Return debit note
A return debit note occurs when a direct debit cannot be honored by the end user. The reasons for a return debit note are e.g. not paid (insufficient funds on the account), objection, wrong account number or person and account holder are not identical.
Reversal
If a direct debit is not paid, the merchant can make a second invoice run after a short time and try to collect the direct debit after all. If a direct debit is returned for lack of funds, the end user has two entries on his account statement. First a debit entry and at the same time a credit entry by the bank, which thus reverses the original payment transaction.
Opposition
If an end user does not agree to a debit by direct debit, he can object to the direct debit within 8 weeks. The end user will then not incur any charges and the merchant is not permitted to collect the amount again, unlike in the case of insufficient funds. Other reasons for a return debit note refer to incomplete data that does not allow processing by the banks (account data or account holder incorrect). In the event of a return debit note, the merchant is charged by its own bank and by the third-party bank. The end customer will also be charged in the event of a return debit note due to insufficient funds.