Please find attached a document explaining how to configure SEPA Direct Debit in AX2012 R2. The same information applies to AX2012 RTM

This document was written by Andrea Skocdopole from our German support team

As listed in http://blogs.msdn.com/b/axsupport/archive/2013/11/22/status-on-sepa-november-2013.aspx we recommend you to install KB 2902097 to act as a baseline for this setup. KB 2902097 is planned to be released on November 30th 2013