We hear this frequently that "Europeans don't have checks," but you still have to inform the bank to perform a transaction. We have had support for electronic checks for 2 or 3 years now:
http://www.xtuple.org/ElectronicChecks (original specification)
There is a plugin-point that was added to support custom output logic for local banking formats that was a result of this thread:
This is how users handle electronic communications to banks at least on the outbound side. On the inbound side it is pretty much a manual cash receipt process, though we have done at least one automated import implementation for a client that uses BACS in the UK. The result of that effort was some new API views for importing cash receipts that could be the basis of import implementation. Unfortunately the "turn key" solution in that case was so specific to the customer we haven't found a we to add it to the application for general use.
So there are several pieces in place. If you need more functionality or a more complete and automated solution it probably makes sense to contact our sales team and discuss adding that in. I think your prospect will find it challenging to find any completely free solution that meets all their needs, but if we are already pretty close and the main cost they incur is adding some new functionality to round out the application, then I think on balance it would be a win for them.