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online debit advice procedure

Electronic direct debit (ELV) and online direct debit are individual procedures for the transfer of money between two parties. As there are no legal regulations for electronic direct debit procedures, they are agreed between the merchant and the buyer.

These direct debit procedures are often used for the purchase of products and services without the customer recognising it as such. The advantage of these procedures is that they are less costly, as there is no intermediary

and the merchant debits the amount directly from the buyer's account. The buyer identifies himself by his magnetic card or smart card from which the merchant takes the account number and the bank code. Before the money transfer, the customer signs the one-time direct debit authorization.

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Englisch: online debit advice procedure
Updated at: 09.01.2013
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