SEPA Holidays 2015 / 2016 – YOU Need to Know These Dates! 6

Normally when you hear about public holidays in other countries you don’t pay too much attention, why should you? In the ‘old days’ of national clearing systems your euro currency payments and direct debit collections were processed according to your national work days and you knew exactly when there was a national public holiday. With ...

MT940 Format Overview 10

It is fair to say that most SEPA implementations are focusing on SEPA compliance, and rightly so! This focus will ensure that corporate payments and direct debit collections can continue to happen uninterrupted after the SEPA deadline. The spotlight for now is very much on the corporate to bank space. Less attention is being given ...

Italy – Migrating RID to SEPA Direct Debit 1

I thought I had this whole SEPA malarkey figured out. For payments we implement the SEPA XML PAIN.001 format, and for direct debit collections the SEPA PAIN.008 format. Of course, we all recognise the additional complexities of a SEPA Direct Debit implementation. Namely, the need for a SEPA Creditor Identifier, understanding the difference between SEPA ...

Belgium – Migrating DOM80 to SEPA Direct Debit CORE

Ok, I know this post is a bit late. Especially since the SEPA go live in Belgium was on 1st April, 2014. If you’re working on a SEPA implementation in multiple countries, be aware of the various SEPA Deadlines By Country. But the information maybe relevant for some corporates who may have put off their SEPA ...

Understand ISO 20022 XML In Less Than 2 Minutes 7

ISO 20022 XML sounds pretty techie, eh? Well, it is techie. But its not as complicated as you think. Unless you’re a systems developer, chances are you don’t need to know the nuts and bolts of ISO 20022 XML. You need an understanding of what it is, and know where to go for more information. ...

What Is A Payment Factory? 8

The post “SEPA Compliance, Tick. What Next?” highlights the current status of your SEPA project and provides an overview of what might be considered next. The SEPA conversation has shifted from compliance to one of process improvement. After all, you have done so much to standardise your euro-based payments and direct debit collections, it would ...

ECB SEPA Statistics – February 2014 2

Earlier this year, we saw that the ECB stats showing SEPA migrations gathering momentum. The ECB SEPA statistics showed improved levels of SEPA compliance, but of course corporates and SME’s were far from ready. Recognising this shortfall, the European Commission proposed a 6 month transition period which was formally adopted by the Council of the ...

SEPA Compliance, Tick. What Next..? 7

Many corporates are either making good progress towards SEPA compliance, or are almost complete. The SEPA conversation has somewhat shifted from SEPA compliance to process improvement. Sure there will be a period of teething while the new SEPA process settles down, but your corporate Euro zone payments and collections landscape should look fairly similar now. ...

Why SEPA Batch Booking Is Important 9

In the last few weeks I have come to realise the importance of the SEPA Batch Booking tag, <BtchBookg>. The tag is one I was familiar with, but didn’t realise the significance of. During a SEPA payments go live we started seeing a debit for every single payment in the bank statement. Oh nuts! The requirement was ...

What Is The Biggest Thing Your SEPA Project Is Struggling With…?

This is going to be a very short post. I would like to understand from YOU, what problems YOU’RE encountering with YOUR SEPA project… Chances are I have already come across the particular problem within my own SEPA project(s), and if I haven’t then I’m sure somebody else has! If you have a solution or ...