EU Euro Payments Must be SEPA Compliant by 31 Oct 2016 1

This blog has covered in depth the SEPA timeline for euro payments and direct debits, starting with the initial deadline (1st February 2014) and the 6 months grace period which culminated in the final (1st August 2016) SEPA deadline. So you’re probably wondering, what the heck is this euro payments to be SEPA compliant by ...

What is the EU in 3 Simple Infographics

So, what just happened? The UK has made up its mind and decided to Leave the EU – with 51.9% of the vote, 48.1% of the public wanting to Remain The British Prime Minister has said that he will leave Downing Street by October, 2016 The UK is being pulled in a few different directions: ...

SEPA Creditor Identifier By Country 16

As the SEPA February 2016 deadline approaches, we need to remember that there are many components to a SEPA Direct Debit implementation. In the SEPA Direct Debit Key Considerations post, i’ve highlighted all of the mandatory fields that you need to capture. One of those fields is the SEPA Creditor Identifier, which i will cover ...

Valid XML Characters for your SEPA Payments 3

Understanding the list of valid xml characters for your SEPA Credit Transfer (PAIN.001) and SEPA Direct Debit (PAIN.008) formats is really important. I know that is stating the obvious, but often invalid xml characters or illegal xml characters are entered into the payments format and can cause either the single payment to be rejected or ...

The Benefits of SEPA According to PWC 2

PWC were assigned by the European Commission DG Internal Market & Services to analyse the benefits and opportunities presented by SEPA once ‘fully embraced’. The report released last year in January 2014, provides us with some interesting insights into the opportunities and benefits of SEPA. Some aspects of the report are very technical and theoretical, but ...

Eurozone Crisis – Should Greece Stay Or Should Greece Go? 1

As 30th June deadline looms another round of Eurozone crisis talks continue in a bid to resolve the Greek debt conundrum, I wanted to understand for myself the key arguments for and against Greece staying in the Eurozone. The implications of a Greek Exit or Grexit are absolutely huge, and of course SEPA is just ...

SEPA Timeline – The Past, Present and Future… 3

With 1st February 2016 SEPA deadline ahead of us, I thought it would be worthwhile taking stock – via a SEPA timeline - of where we’re at, where we’ve come from and where we’re going on this SEPA journey. Getting to the point we’re at right now has taken over 15 years, a couple of SEPA deadlines, lots ...

Fun Facts About 10 European Brands

Over the weekend I was reading about European brands and came across some really interesting articles such as the Top 10 Most Powerful European Brands, The Best Brands in Europe and What are the top 20 retail brands in Europe?. They’re really interesting articles and well worth a read. The compiled lists of European brands vary according ...

BAI2 Format Specification 4

BAI2 Format Specification – Corporates are using a variety of bank statement formats to receive information from their bank(s) about the activity happening on a given account. While most corporates are using the MT940 format, other bank statement formats are of course available and being used. One such example is the BAI2 format. Just before the ...

2015 – Let’s Do This!!

2015, Happy New Year! In 2014 we saw the SEPA deadline come and go, resulting in the approval of a 6 month transition period which ultimately led to the extended 1st August SEPA deadline. Throughout this SEPA for Corporates has sought to provide you with a no nonsense guide to implementing SEPA. From SEPA Credit Transfers, SEPA ...