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Receivables - EBS (MOSC)

Auto Lockbox Vs SEPA (Single Euro Payments Area)

Mar 13, 2013 9:50AM edited Mar 13, 2013 7:09PM in Receivables - EBS (MOSC) 2 commentsAnswered

What is the difference between the Auto Lockbox and SEPA (Single Euro Payments Area) , Can we use the same file formats.

AutoLockbox is a service that commercial banks offer corporate customers to enable them to outsource their accounts receivable payment processing.

SEPA is a Direct Debit method of payment wherein the debtor (payer) authorizes the creditor (payee) to collect the payment from his bank account.

Thanks,

Chaitanya

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