Single Euro Payments Area

BAI2 Format Specification 6

Jan

14

2015

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!!

Jan

5

2015

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 ...

Immediate Payments Not Available Anytime Soon…. 4

Dec

12

2014

Immediate payments, faster payments, instant payments, real time payments – however you refer to them, they are a hot topic and now a pan European solution is being sought. On 1st December 2014 the ERPB (Euro Retail Payments Board) held its second meeting chaired by the European Central Bank (ECB). Before we get into the details ...

SEPA Status – ECB SEPA Statistics – June 2014

Jul

21

2014

The final countdown to the SEPA deadline, 1st August 2014, has started… With just 10 working days remaining, we have learnt a little more from the ECB about the status of the SEPA implementations across the SEPA zone. I recommend reading the SEPA Status – ECB SEPA Statistics – May 2014 post for some specific ...

SEPA Go Live – 4 Things You Need To Do TODAY! 2

Jul

14

2014

With just under 3 weeks to go until the 1st August SEPA Go Live deadline, and keeping in mind the ECB SEPA Statistics for May 2014, there is no doubt that the 6 month deadline extension was absolutely essential. But collectively we’re not quite there, 100% SEPA compliant, yet. I’m guessing that any outstanding SEPA ...

SEPA Banks Must Do Better

May

30

2014

The recent post SEPA Holidays 2014/2015 – YOU Need To Know These Dates highlights the importance of communication and awareness in the ‘new’ SEPA world. The crux of the issue is that we have a ‘clash’ between various national public holidays along side SEPA processing days. For example, yesterday (Thursday 29th May, 2014) many European ...

3 Things You Ought To Know About SEPA BIC 4

May

26

2014

During the course of various SEPA implementations I started to realise that the BIC (Bank Identifier Code) requirement was something to get an understanding of early. The BIC value is one which has various requirements depending on country, transaction type and bank. This post runs through the requirements and highlights three ways in which the BIC ...

SEPA Mobile Payments – An Introduction 5

May

22

2014

When it comes to payments, there is a tremendous amount of buzz around mobile money payments. Its fair to say that various countries in Africa are leading the way when it comes to mobile money payments, and other regions are looking at the success and wondering if the model can be replicated. The EPC has released ...

EPC Launches 3 Month Consultation On the Evolution of SEPA 1

May

19

2014

With less than 3 months to go until the 1st August SEPA deadline, today the EPC launched a 3 month consultation period on possible changes to the SEPA Credit Transfer and SEPA Direct Debit rulebooks. This post examines the details of the announced consultation period, and offers some personal thoughts around the need of this ...

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

May

11

2014

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 ...