The effect of paying through Direct Debit on privity of contract has always been challenging because of the different interests of the respective parties. This book contains an investigation of the single elements of SEPA Direct Debit, distinguishes between Core Direct Debit and Business to Business Direct Debit and compares SEPA Direct Debit to the national systems of direct debiting in Germany, Austria, Spain and Great Britain in reference to the refund of authorised transactions during insolvency. The main analysis deals with the privity of contract which is affected through the mechanisms of direct debiting especially because of the refund entitled to the payee and its consequences on performance and during insolvency.