Direct Debit

Collect Funds Through Direct Debits

The Direct Debit Registration API (DDR) allows Cobre clients to register a counterparty with their financial institution so that the counterparty’s account can be authorized for direct debits.

Once the registration is completed and approved by the counterparty, clients can initiate direct_debit money movements toward the registered counterparty using the Money Movements API.

Direct Debits enable automated fund collection without requiring the counterparty to manually initiate transfers.

Key Terms

DDR (Direct Debit Registration): Process used to register and authorize a counterparty account so it can be debited.

Nequi: Financial institution that provides low-value deposit and savings accounts and supports direct debit operations.

Direct Debit Registration API

The Direct Debit Registration API registers a Cobre Balance account with the counterparty’s financial institution (FI).
During this process, the FI notifies the counterparty and requests authorization to allow debit operations on their account.

Registration is asynchronous and its final status depends on the response from the financial institution and the counterparty.

Direct Debits Registration Statuses

Below, you can find the possible states that a counterpart's direct debit registration request may obtain.

Status	Description
Processing	Indicates that the registration request is being processed and the financial institution will notify and request confirmation from the counterparty.
Registered	Indicates that the counterparty was successfully registered for direct debit operations.
Unregistered	Indicates that the counterparty is not authorized to perform direct debit operations.

Direct Debit Registration Statuses

Status	State Code	Description
Registered	RD000	Registration completed successfully
Unregistered	RD001	Account registration rejected
Unregistered	RD004	Inactive or blocked account
Unregistered	RD006	Account and identification do not match
Unregistered	RD010	Account does not exist
Unregistered	RD025	Account not authorized for debit
Unregistered	FD001	Registration failed, retry required
Failed	Failed	Registration failed, retry required

Cobre Direct Debit Experience

Registration confirmation

The counterparty must approve the registration through their financial institution.

Create a Direct Debit money movement

Once the counterparty is in registered status, create a direct_debit money movement using the Money Movements API.

Funds reception

A dd_credit transaction will be credited to the Cobre Balance account associated with the direct debit.

Not all financial institutions allow users to reject the registration; however, most notify the counterparty when their account is registered.
If a counterparty has been registered multiple times under different types, the latest registration will be used.

Registration Types

	Nequi Direct Debit
Description	Allows registering and debiting counterparties through Nequi (FI code: 1507)
Approximate Registration Time	Up to 15 minutes for user approval
User Acceptance	Required through the Nequi app
Debit Processing Time	Real-time
Enabled Financial Institutions	Nequi

How to Get Started

Before using this API

Create a counterparty

Create a counterparty of type CC, CH, or DP.

Subscribe to required events

Subscribe to events to receive notifications about registration status changes, money movements, and credits.

Each counterparty must be registered individually with the account that will be debited.

What to expect after using this API

Registration status update

The registration transitions to registered, unregistered, or failed.

Perform Direct Debit money movements

If the counterparty is in registered status, you can initiate direct_debit money movements.

Receive funds

Once the money movement reaches completed, a dd_credit transaction is posted to the Cobre Balance account.

Actions Performed on Direct Debit Registration

🔑 Create

🔍 Retrieval

Description: Register a counterparty for Direct Debits.
What to expect: A Direct Debit Registration object is created and processed asynchronously.
📘 Learn more:

🔗 Register a Counterparty for Direct Debit

Direct Debit

Collect Funds Through Direct Debits#

Key Terms#

Direct Debit Registration API#

Direct Debits Registration Statuses#

Direct Debit Registration Statuses#

Cobre Direct Debit Experience#

Registration Types#

How to Get Started#

Before using this API#

What to expect after using this API#

Actions Performed on Direct Debit Registration#