Cancel a SEPA Direct Debit
FinXP is your payment processor, not the merchant charging you. Here is how to cancel a Direct Debit mandate.
Tell us about this payment
If a FinXP-powered merchant is charging you and you cannot identify them, send the details below. FinXP support will help trace the merchant behind the mandate.
FinXP is the payment processor, not the merchant
FinXP provides SEPA Direct Debit collection services to businesses across Europe. When one of those businesses collects a payment from your account, the FinXP name or a related reference can appear on your bank statement alongside the merchant’s details.
That means the company charging you is a merchant that uses FinXP to process its payments. To cancel the payment, you deal with the merchant and with your own bank. FinXP cannot cancel a mandate on your bank account for you, but we can help you identify the merchant behind a FinXP-related debit.
Keep the statement entry and the mandate reference to hand. They identify the merchant and make every step below quicker.
Cancel a SEPA Direct Debit mandate
Follow these steps in order. In most cases the cancellation is handled between you, the merchant and your bank.
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01
Identify the merchant or mandate reference
Check your bank statement or online banking for the merchant name and the mandate reference attached to the debit. This tells you who is collecting the payment.
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02
Contact the merchant
If you have an active subscription or agreement, ask the merchant to cancel the mandate at their end. This stops future collections at the source.
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03
Ask your bank to cancel the mandate
Contact your bank or payment account provider and ask them to cancel the SEPA Direct Debit mandate. Your bank can also block future collections from a specific merchant.
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04
Contact FinXP if the debit is FinXP-related
If the payment relates to a FinXP-powered merchant or service and you cannot work out who is charging you, FinXP support can help trace the merchant behind the debit.
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05
Keep records
Keep a copy of your cancellation request, the mandate reference and any confirmation you receive, in case a further collection is attempted.
Cancelling a SEPA Direct Debit, answered
Yes. A payer can cancel a SEPA Direct Debit mandate. The exact route depends on your account provider and your relationship with the merchant, but in most cases you cancel through your bank, the merchant, or both.
Usually the merchant and your bank or payment account provider. The merchant can cancel the agreement at the source, and your bank can cancel the mandate and block future collections. Contact FinXP where the debit relates to a FinXP service or merchant relationship.
FinXP processes SEPA Direct Debit collections on behalf of businesses across Europe. If FinXP appears on your statement, a merchant you have a payment agreement with is using FinXP to collect that payment. The mandate reference on the debit identifies the merchant.
Contact your bank straight away and tell them you do not recognise the debit. Banks have established procedures for disputed and unauthorised SEPA Direct Debit collections. If the debit is FinXP-related, FinXP support can also help you identify the merchant behind it.
The SEPA Direct Debit scheme gives payers refund rights for collections taken from their account, and unauthorised collections carry longer protection than authorised ones. Refunds are handled by your bank or payment account provider, so contact them with the mandate reference and they will confirm the exact terms and deadlines that apply to your account.
No. Cancelling a SEPA Direct Debit mandate stops the merchant collecting payments from your account, but it does not end any underlying contract or subscription you hold with them. If you still owe payments under that agreement, the merchant may ask you to pay another way, so cancel the agreement itself with the merchant as well if you want it to end.
Get support with a FinXP-related payment
If the debit relates to a FinXP-powered merchant or service, or you cannot work out who is collecting the payment, the FinXP help section explains how to reach support.
Have the mandate reference and the statement entry ready. It is the quickest way to trace the merchant behind a collection.