yeah. I am also unsure why we do not see more fraud here.
Is it because of the 8 weeks of no questions asked refund possibility for payers and up to 13 months for unauthorized/fraudulent transactions? Or does the 5 business days lead time to get direct-debit play a role?
It is precisely because of the refund policy. It is so generous that, per my understanding, most SEPA direct debit fraud is abusing the refunds. Most banks do not require much supporting evidence for claiming the debit to be unauthorized, and unlike credit card disputes, the merchant doesn't even get to make a statement in the process.
yeah. I am also unsure why we do not see more fraud here. Is it because of the 8 weeks of no questions asked refund possibility for payers and up to 13 months for unauthorized/fraudulent transactions? Or does the 5 business days lead time to get direct-debit play a role?
It is precisely because of the refund policy. It is so generous that, per my understanding, most SEPA direct debit fraud is abusing the refunds. Most banks do not require much supporting evidence for claiming the debit to be unauthorized, and unlike credit card disputes, the merchant doesn't even get to make a statement in the process.
Only if I allow it via banking website, while logged in (or come in person), right?
No, only a "recorded consent" is required, usually a physical signature or a record of you agreeing to this via online form.