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But SEPA can be reversed (or at least could in

2016, according to this horror story - https://www.askaboutmoney.com/threads/sepa-transfer-reversal.199168/ ).

So what would the token issuer do after issuing the token if the payment was reversed 2 weeks (10 business days) later?

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It can be reversed, but you need bank cooperation. Not click of a button. Sepa pull can be reversed by customer, though.

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