Official – SEPA Deadline Extended to 1st August 8

As we all know, on 9th January 2014 the European Commission proposed that the SEPA deadline should be extended from 1st February to 1st August, 2014. This 6 month SEPA deadline delay or ‘transition period’ was later approved by the European Parliament on 4th February, 2014. The amendment to Regulation 260/210 was formally adopted by the Council of the European ...

SEPA Deadline by Country – A Must Read 9

The 6 month SEPA deadline delay does not necessarily mean that you now have until 1st August, 2014 to ensure SEPA compliance within your organisation. The SEPA deadline transition, from 1st February to 1st August 2014, has brought about a lot of confusion between concerned parties. The confusion lies in the recent SEPA deadline amendment to Regulation (EU) 260/2012 ...

European Parliament Support the SEPA Deadline Delay 4

Following on from the European Commission proposal last month to delay the SEPA deadline, today a European Parliament vote supported the six month SEPA deadline delay to 1st August, 2014. The European Parliament vote is likely to be formally adopted into law by the European Council in the next few days. The official European Parliament ...

10 Reasons Why SEPA is like Sitting High School Exams

I’ve been thinking recently about how SEPA, and come to think of it most multi-country corporate projects, are a bit like sitting a high school exam! With the official deadline upon us, most attention will turn to how ready corporates and Small Medium Enterprises (SMEs) are. Here is why I think the SEPA project, or any ...

5 SEPA Scams to be Aware Of 3

For many banks, corporates and SME’s (Small, Medium sized Enterprises) their main SEPA focus right now is to ensure compliance. Of course security, validation and verification is of utmost importance, but in the rush and haste of SEPA compliance, one may drop their guard and it is exactly at this moment that the SEPA scammers may seize their ...

SEPA: IBAN Number & BIC – The Definitive Guide 13

Granted it is a little late in the day to start writing about the IBAN number and BIC code. But there will be many SEPA implementations happening over the coming months, and so with that in mind I felt it was important to have a summary guide outlining what the IBAN number is, how it relates to SEPA, and ...

ECB Stats Show SEPA Migrations Gathering Momentum 3

European Central Bank – EPC SEPA - PRESS RELEASE: Source: http://www.ecb.europa.eu/press/pr/date/2014/html/pr140120.en.html 20 January 2014 – New statistics show SEPA migration gathers pace in December New statistics released today by the European Central Bank (ECB) show that migration to the Single Euro Payments Area (SEPA) gathered pace strongly in December.According to the latest figures provided by national ...

SEPA XML in a Nutshell 19

The intention of this post is to give you an understanding of what XML is, how it relates to SEPA and items to take note of. It will not give you the A-Z of XML, consult your technical resources for that and the EPC website. Lets start with the basics, what is XML? eXtensible Markup ...

SEPA Deadline Delayed – 1st August, 2014 6

Just as we were rolling up our sleeves up, one eye on the 1st February SEPA deadline, the other on multiple SEPA implementations, coupled with a nervousness about overall readiness – the European Commission announces an extension to the SEPA migration deadline to 1st August, 2014. While the EC “stresses that the SEPA migration end date of 1 February ...

What Is In Scope for 1st February, 2014… 3

Right, we’re in the home straight and we need to ensure we’re working on the right things. There is a lot of confusion about what is in scope for 1st February, 2014 and what is waived and/or niche. In this post, I will highlight those processes that will be obsolete post 1st February, 2014. Unless your bank ...