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Tag archive: migration

Euro countries are getting ready for the extended deadline

It seems that postponing the SEPA deadline for all stakeholders to get ready was useful. In an earlier stage, the ECB stated that if the pace of migration continued, the vast majority of stakeholders would have completed their migration by February 1st, the original deadline. New figures from the European Central Bank show that this […]

SEPA saves billions for banks and businesses

In light of the postponement of the SEPA deadline and the required amendments to the systems, the costs of SEPA have been an important focus lately. However, a recent report written by PwC’s Corporate Treasury Services offers an alternative. According to the results of their research SEPA is able to reduce annual costs by 21.9 […]

European Parliament approves transition period of six months

European Commissioner Michel Barnier is pleased that on February 4th 2014 the European Parliament has approved his proposal that allows non SEPA compliant payments to continue for a limited period of time, until August 1st  2014, in parallel with SEPA compliant payments. In a press release he states that the adoption of the proposal ensures the […]

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 […]