The SEPA mandate is between the parties in the transaction. While banks require ... | Hacker News

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germanier on April 10, 2023 | parent | context | favorite | on: FTX stored private keys to crypto assets in plaint...

The SEPA mandate is between the parties in the transaction. While banks require their existence, it is usually not shared with the banks involved.

RandomLensman on April 10, 2023 [–]

So only a creditor ID is needed if someone has a set of IBANs and then things will be processed?

germanier on April 10, 2023 | [–]

A creditor ID and a direct debit agreement with some bank, yes. After you have those, (usually) the banks won't verify individual transactions.

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