ASB Direct Debit Clearing

ASB Direct Debit Payment System

• Direct Debit is a transaction initiated by the payee (the issuer of the account), based on the consent obtained from the individual (payer), in order to collect funds from the payer's account;
• Direct Debit is a service used to pay standing monthly bills (liabilities);
• Direct Debit services are typically: payment of monthly bills for telecom, utilities and electricity, monthly insurance obligations, repayment of loan instalments or credit card obligations, etc;
• Direct Debit is one of the most commonly used payment methods in the European Union because it offers numerous benefits to all participants in such a payment system;
• 1 of 3 basic pillars of the payment system of the European Union (SEPA system).

The Advantages of Direct Debit

- Straight through processing- automated billing process for monthly invoices;

- Opportunity for more efficient billing for billers;

- Process standardisation;

- Reduction of manual interventions;

- Safe and easy way of payment for billers;

- A comfortable way to meet your monthly household obligations;

- Reduction of costs for banks and billers - reduction of cash payments at counters to settle monthly obligations.

- Predictable Cash Flow

- A convenient payment method for regular payers - 60+% of total invoices are settled on a regular basis and are not considered to be a competitive service for mobile and internet payments that provide flexibility in paying bills;

- Improved payment efficiency and reduced "social" payment costs in Serbia.

Target Market

- 2.5 million households;

- Average monthly consumption per household: RSD 63,400;

- Over 15% receive permanent financial assistance from abroad;

- 2.2 million employees; 1.8 million retirees;

- Active current accounts with an average balance sufficient for payments through the account;

- Beneficiaries of insurance and leasing services;

- Credit card users.

Legal Basis for the Operation of the Direct Debit Payment System Operator

NBS Regulations

• Law on Payment Services;
• Decision on the Conditions and Manner of Granting License for Payment System Operation and Granting Approval for Amendments and Supplements to Payment System Rules;
• Decision on Implementation of the Provisions of the Law on Payment Services Relating to Payment System Licensing and Consenting to Amendments to Payment System Rules;
• Decision on the Content and Manner of Maintaining Records of Payment Systems;
• Decision оn Initial Capital and Minimum Amount of own Funds of a Payment System Operator;
• Decision on Initial Capital, Own Funds and Capital Requirements of a Payment System Operator;
• Decision on Detailed Conditions and Manner of Supervision of Operations of Payment Systems;
• Decision on the Manner of Maintaining and Enhancing Safe and Sound Payment System Operation and Reporting to the National Bank of Serbia.

ASB Regulations

• PLATIMATIK Direct Debit Operating Rules (Payment Scheme);
• Rules of Operation of the ASB Direct Debit Clearing Payment System;
• Daily ASB Direct Debt Clearing Schedule;
• Instructions on the Structure of Direct Debit Instruction Data and Their Purpose;
• Technical Guidance for ASB Direct Debit Clearing Messages;
• Business Rules for ASB Direct Debit Payment System Messaging.

Current participants in the ASB Direct Debit Clearing Payment System

Payment Service Providers (which have an Agreement with the Association of Serbian Banks):

1. BANCA INTESA A.D. Belgrade;
2. POSTAL SAVINGS BANK A.D. Belgrade;
3. CREDIT AGRICOLE BANK SERBIA A.D. Novi Sad;
4. ERSTE BANK A.D. Novi Sad;
5. EUROBANK A. D. Belgrade;
6. KOMERCIJALNA BANKA A.D. Belgrade;
7. RAIFFEISEN BANK A.D. Belgrade;
8. UNICREDIT BANK SERBIA A.D. Belgrade.

These eight banks account for over 65% of all active current accounts of individuals. 

Recipients of Payments (Billers):

1. SERBIA BROADBAND - SRPSKE KABLOVSKE MREŽE DOO BELGRADE;
2. DDOR A.D.O. Novi Sad;
3. SAVA ŽIVOTNO OSIGURANJE A.D.O. Belgrade;
4. GENERALI INSURANCE SERBIA A.D.O. Belgrade;
5. UNICEF;
6. NURDOR;
7. SOS Dečija sela;
8. BELhospice – Palliative Care Centre.