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Tag archive: IBAN

Frequently Asked SEPA Questions

With only several weeks to go before the Single Euro Payments Area (SEPA) switchover deadline, most of the companies and institutions in the participating countries are aware that there is no turning back. However, this does not mean that all preparations have been fully completed and that all involved parties are ready yet. Despite freely […]

SEPA ready? Now what’s next?

The February 1st 2014 deadline for migration to SEPA is fixed. However, this doesn’t mean that after this date companies can lean back and leave all payment issues as they are. On the contrary, rules for payments are about to change fundamentally. Standardisation in payments means that there will be no differences between the various […]

A historical SEPA milestone for the Netherlands

The SEPA migration in the Netherlands has reached a historical milestone in the month of June, only eight months short of the deadline on February 1st, 2014. For the first time ever, more SEPA transactions were processed than traditional payment transactions. The total volume on June 20th was more than 5,5 million SEPA transactions and […]

Finland: a SEPA showcase for other countries (part 1)

Finland has been 100 per cent SEPA Credit Transfer (SCT)-proof since 2011, long before the deadline of February 1st in 2014. Why did Finland feel the need to migrate as soon as possible? Marianne Palva, Senior Advisor in the Financial Stability Department at the Bank of Finland, explains in this first blog post why Finland […]

‘German businesses are attached to short payment cycles’ (part 2)

In an earlier blog post, Jochen Metzger, head of the payments and settlement systems department at Deutsche Bundesbank, was asked about the process of the SEPA integration in Deutschland. In this blog post he explains more about the stage of integration Germany is in nowadays. Is SEPA a hot media topic in your country? It’s […]

SEPA: how it all started

For a full understanding of the reasons why we are switching completely to IBAN bank account numbers in February 2014 – an important requirement for establishing a European payments area – some knowledge on the history of SEPA is required. The Single Euro Payments Area (SEPA) may be regarded as the next logical step after the […]