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  • 1.  BankAccountTransfer vs. BankAccountDebit

    TM Forum Member
    Posted 18 days ago
    TMF670 PaymentMethods defines subclasses BankAccontTransfer and BankAccountDebit;
    since I am not used to UK or US financial terminology, and did not find an answer in the internet:
    What is the difference?
    The data structures are identical, but I'd assume there is a semantic difference; otherwise, why are there two subclasses?

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    Lutz Bettge
    Deutsche Telekom AG
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  • 2.  RE: BankAccountTransfer vs. BankAccountDebit

    TM Forum Member
    Posted 15 days ago

    Hi Lutz
    My understanding is that a bank transfer is a one-off transaction, while the debit is more akin to a standing order or a direct debit.
    But I may be mistaken here, I'm not an expert in the area of payments.



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    Jonathan Goldberg
    Amdocs Management Limited
    Any opinions and statements made by me on this forum are purely personal, and do not necessarily reflect the position of the TM Forum or my employer.
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  • 3.  RE: BankAccountTransfer vs. BankAccountDebit

    TM Forum Member
    Posted 15 days ago
    Hi Jonathan,
    thank you! But what then is the difference between BankAccountDebit and DirectDebit? Is DirectDebit for the SEPA variant, and DirectDebit for countries that do not follow SEPA?

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    Lutz Bettge
    Deutsche Telekom AG
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  • 4.  RE: BankAccountTransfer vs. BankAccountDebit

    TM Forum Member
    Posted 15 days ago
    Hello Lutz,

    Yes thats correct. DirectDirect payment method is for SEPA protocol.

    Regards,
    Dominic

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    Dominic Oyeniran
    Vodafone Group
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