Implementing SEPA in Au s t r ia

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Implementing SEPA in Au s t r ia"

Transcription

1 Implementing SEPA in Au s t r ia All you need to know for a successful SEPA migration Introduction This document gives you an overview of all the country specific information you need to implement successfully your migration to SEPA in Austria. Intending to provide a global picture of the impact of SEPA on your organization, it will help you understand all the aspects you need to take into account in order to migrate your payment activities. REGULATORY UPDATE: ADDITIONAL TRANSITION PERIOD The European authorities agreed on allowing banks and other payment providers to process payments that differ from the SEPA format for an extra six months (amending EU Regulation N 260/2012). As a consequence, all parties (e.g. corporates, SMEs and Public Administrations) may continue to send payments and collections through non-xml formats until 1 st of August Each Member State has taken a position towards the application of this proposal. In Austria, legacy formats (such as Edifact) are accepted until 1 st August Regarding direct debits, new creditor Identifiers are not accepted under legacy scheme since 1 st February 2014.

2 SEPA Credit Transfers (SCT) Overview of the domestic formats Today Austria is supporting two credit transfer formats (Edifact V3 Paymul, ATIB), additionally to SCT. If you are initiating credit transfers from Austrian channels, identify which format you use currently. For each format, use the table below to understand until when you can use them according to the regulation. This is key information to take into account in your migration plan. The validity of a format can be one of the following: - Phased out: in scope of the SEPA end date, the format remains accepted for an additional transition period. After this period, you must use another format. - Waived: Some formats received a waiver, that authorizes their usage until 1 st of February Note that the authorization concerns the format sent by the debtor only. The following steps operated by the banks will strictly follow the SEPA scheme. Therefore, these payments will be reported as SEPA payments on your account statements. - Part of a niche product : Member states can declare a niche product if the relying product presents less than 10% market share (based on ECB statistics). These products will remain usable until 1 February So if you are using a waived format or a format supporting a niche product, it means you have two extra years, until 1 February 2016, to migrate the related credit transfer system. Of course, you keep the possibility to migrate now. Edifact V3 Paymul ATIB Description National Format for domestic and international Payments Paper-based transactions which could not be translated into SEPA transactions Validity Domestic payments: Phased out. Remains accepted until the 1 st of August 2014 International payments: Phased out in 2016 Niche product The product is maintained as today until the 1 st of February 2016

3 Comparison of domestic and SEPA transfers properties It is important to understand the impact of switching from one scheme to another. Besides using a new format, migrating to SEPA also influences your operational team and your beneficiaries. While you are identifying your migration approach, make sure to understand all the related impacts by analysing the comparison table below. EDIFACT V3 Paymul SCT Does the local format allow SCT collections? Aligned: all the mandatory information is foreseen in the format Book date / Value date Debit: D Credit: Standard: D* Urgent: D Debit: D Credit: Standard: D+1 Urgent: D Settlement date D D D: Execution date set in the credit transfer * in case of cross-border payments with currency conversion, the value date will be D+2 Implementation of the PAIN.001 PAIN.001 is the XML standard used for the communication between the debtor/initiator and his bank. Besides considering the format proposed by the EPC, there are two specific points to take into account: Choosing the correct version PAIN.001 currently exists in 4 versions. A company that starts its migration today is advised to implement the last version PAIN , which is defined in the Rulebook 6 (downloadable on the EPC website). PAIN was rejected by the banks and the corporates. Local specificities regarding the PAIN.001 Austrian banks agreed to setup their own XML standard called STUZZA. (downloadable on the website).

4 SEPA Direct Debits (SDD) Today Austria is supporting two domestic direct debit formats besides the SDD. If you are currently initiating collections in Austria, identify which format you use and make sure to understand until when they remain supported according to the regulation. The validity of a format can be one of the following: - Phased out on the 1 st of February 2014 (the SEPA end date): the format will not be allowed anymore after the end-date. You must therefore use another format. - Waived: Some formats received a waiver, that authorize their usage until 1 st of February Note that the authorization concerns the format sent by the creditor only. The following steps operated by the banks will strictly follow the SEPA scheme. Therefore, these payments will be reported as SEPA payments on your account statements. - Part of a niche product : Member states can declare a niche product if the relying product presents less than 10% market share (based on ECB statistics). Niche products will remain usable until the 1 st of February So if you are using a waived format or a format supporting a niche product, it means you have until the 1 st of February 2016 to migrate your related direct debit system. Of course, you keep the possibility to migrate now. Type Description Validity SDD Continuity Edifact V3 Dirdeb - Einzugsermächtigung, is a nonpreauthorised Phased out on the 1 st Existing mandates Einzugsermächtigung Direct Debit Scheme of August 2014 remain valid for SDD Edifact V3 Dirdeb - Lastschriftverfahren Lastschriftverfahren is a form of pre-authorised Dired Debit Scheme used for B2B and B2C business. Phased out on the 1 st of August 2014 Core and SDD Cor1 Existing mandates remain valid for SDD Core. For SDD B2B new mandates are mandatory

5 Comparison of domestic and SEPA direct debits Especially regarding direct debits, it is important for you to understand the consequences of switching from one scheme to another. Besides using a new format, migrating to SEPA also influences your operational team, but moreover your customers. Hence while you are defining your migration approach, make sure to understand all the related impacts by analyzing the below comparison table. Edifact V3 Dirdeb SDD Core SDD B2B Format Edifact Format XML XML Does the local format allow SDD No, see New mandatory mandate information in SDD collections collections? Frequency Recurrent / One-Off Recurrent / One- Recurrent / One-Off Off Eligible All All Business only * debtor Collection sending date (D = payment due date) Mandate management and archiving Refund right Pre- Authorization (the debtor s bank confirms the mandate with the debtor) Pre- Notification D-2 D-5 (First / Oneoff) D-2 (Recurrent) D-1 (COR1) Mandate required but checked by the debtor bank Einzugermächtigungsverfahren: Conditional refund right within 8 weeks after the date of debit for an authorized transaction***. 13 months for an unauthorized transaction Lastschriftverfahren: No refund right for an authorized transaction. 13 months for an unauthorized transaction control of mandate by the debtor bank for Lastschriften D-1 (all) The creditor holds a paper version and manage the mandate Unconditional refund right within 8 weeks following the date of debit. 13 months for an unauthorized transaction Not required Not applicable Must be sent 14 days before payment date** No refund right for an authorized transaction. 13 months for an unauthorized transaction Control of mandate authorization by the debtor bank Must be sent 14 days before payment date** * In Austria, the microenterprises are considered as business, and can therefore be declared debtors of B2B mandates. ** The pre-notification time can be reduced if agreed between the debtor and the creditor. *** According to article 62 of the PSD.

6 Austrian specificity: Elektronisches Lastschriftverfahren (ELV) The direct debit ELV is a specific means broadly used especially in Austrian and German retail stores. It allows to initiate single transactions based on bank cards for which the customer must sign a receipt (agreement), which acts then as a mandate for a one-off transaction. In Austria, the ELV is a niche product (as it supports less than 10% of all transactions). The product will remain fully valid until the 1 st February New mandatory mandate information in SDD collections Generating SDD implies the use of some mandatory information concerning the mandate, that were not present in the domestic formats. Beside managing all the XML collection constraints, it means that you will probably have to adapt your IT and/or operational processes in order to retrieve, store and send the following information: IBAN : accounts of the creditor and of the debtors must be included in IBAN format. Debtor s bank BIC: this information is mandatory until the 1 st of February 2014 in domestic and the 1 st of February 2016 for cross-border transactions. If you have problems to enrich your collections with the BIC of your debtor s banks, BNP proposes a service of automatic enrichment. Mandate Unique Reference: Every mandate must now have an unique reference, that should be notified in every collection as well. SEPA Creditor ID: SEPA Creditor ID has to be acquired by the Austrian National Bank via the Austrina servicing bank Implementation of the PAIN.008 (SDD Collection) Austrian banks agreed to follow the standard recommendations of the EPC, without any specificity. Mandate Migration The Regulation N 260/2012, article 7 Validity of mandates and right to a refund, allows that existing mandates within a legacy direct debit scheme continue to be used within SEPA. Migrating a mandate means that you have already a domestic mandate that authorize you to debit the account of one of your customer, and that you will continue using the same mandate, but with SEPA compliant collections. A mandate is considered as migrated when its first related collection in SEPA format has been performed successfully. The benefit of the migration is that you can continue to debit your customers without asking them to re-sign a SEPA mandate. Note that a creditor have the choice to migrate gradually, and can continue using SDD and domestic collections simultaneously for different mandates. To migrate your mandates, you should consider the two main following points: Schemes allowed for mandate continuity All existing domestic mandates (Einzugsermächtigungsverfahren and Abbuchungsauftragsverfahren ) remain valid for SDD Core. SDD B2B will always require the signature of a new mandate.

7 Migration rules Austria follows the recommendation of the EPC. There is therefore no specific migration rules. SEPA Creditor Identifier (CI) To be able to use SEPA direct debit, your first administrative step is to get a SEPA Creditor Identifier. This number will identify your company when collecting from all the SEPA area. Note you have the possibility to request one SEPA CI for each of your business activities. How to get a SEPA Creditor Identifier? You can get your SEPA Creditor Identifier via your preferred bank. Once obtained, it can be used in any SEPA country, for any scheme and for collections through any bank. SEPA Creditor Identifier format Positions 1 and 2: AT (ISO Code of Austria) Positions 3 and 4 : Check digit Positions 5 to 7 : Creditor Business Code, to be chosen by the creditor (by default: ZZZ) Positions 8 to 18 :Creditor National Identifier. These numbers are attributed in consecutive ascending order, with leading 0. Mandate information Types of mandate Austrian mandates are currently only available in paper format. Electronic mandates will only come with the new European e-mandate regulation. Mandate Template Austria proposes the usage of the standard EPC template.

8 Conversion of BBAN to BIC + IBAN Conversion Service The Austrian STUZZA is offering the service to convert all Austrian BBAN to IBAN and BIC. Companies can directly get in contact with the STUZZA or via their preferred bank. How to build up the IBAN In Austria, the IBAN is composed of 20 characters with the following structure: The first two characters identify the country : AT. The next two characters correspond to the standard IBAN check digit. The remaining 16 characters correspond to the current BBAN. Example: AT How to build up the BIC On the Austrian National Bank Website (http://www.oenb.at) a list containing all banks, the bank code and their BIC is available for download.

Implementing SEPA in Belgiu m

Implementing SEPA in Belgiu m SEPA Country Guide Belgium Implementing SEPA in Belgiu m All you need to know for a successful SEPA migration Introduction This document provides an overview of all the country specific information you

More information

Introduction. SEPA Credit Transfers (SCT) Overview of the domestic formats

Introduction. SEPA Credit Transfers (SCT) Overview of the domestic formats Introduction This document provides an overview of all the country specific information you need to successfully implement your migration to SEPA in Switzerland. Intending to provide a global picture of

More information

SEPA Country Guide Italy. Introduction

SEPA Country Guide Italy. Introduction Introduction This document provides an overview of all the country specific information you need to successfully implement your migration to SEPA in Italy. Intending to provide a global picture of the

More information

in Fr a nce Introduction

in Fr a nce Introduction in Fr a nce Introduction This document provides an overview of all the country specific information you need to successfully implement your migration to SEPA in France. Intending to provide a global picture

More information

SEPA Country-Specific Information Austria

SEPA Country-Specific Information Austria SEPA Country-Specific Information Austria Cash Management & ebanking January 2014 Contents INTRODUCTION 3 END-DATE INFORMATION 3 IBAN CONVERSION SERVICE 3 SEPA PRODUCTS 4 SEPA CREDITOR IDENTIFIER (CI)

More information

On top of this Italy requested waivers that allow usage of some legacy formats and niche products until 1 st February 2016.

On top of this Italy requested waivers that allow usage of some legacy formats and niche products until 1 st February 2016. Since 1 st February 2014, SEPA became a reality and succeeded in harmonising the European payment landscape. However, in order to support strong local market practices, some local flavours remain applicable

More information

SEPA in Slovakia. Quick facts. International Bank Account Number (IBAN) IBAN structure. 75 SEPA Country Sheets - Slovakia

SEPA in Slovakia. Quick facts. International Bank Account Number (IBAN) IBAN structure. 75 SEPA Country Sheets - Slovakia SEPA in Slovakia Useful links Slovak Central Bank www.nbs.sk/en/payment-systems/sepa SEPA Implementation Plan Download the PDF Slovak Banking Association www.sbaonline.sk/en Quick facts International Bank

More information

Spanish legacy branch code 4 numbers. Spanish legacy bank code 4 numbers

Spanish legacy branch code 4 numbers. Spanish legacy bank code 4 numbers SEPA in Spain Useful links Spanish official SEPA website (in Spanish language) http://www.sepaesp.es/ National Central Bank of Spain www.bde.es/bde/en Official Migration Guide for the Spanish market Download

More information

Since 1st February 2014, SEPA became a reality and succeeded in harmonising the European payment landscape. However, in order to support strong local market practices, some local flavours remain applicable

More information

SEPA in Netherlands. Quick facts. International Bank Account Number (IBAN) IBAN structure. 66 SEPA Country Sheets - Netherlands

SEPA in Netherlands. Quick facts. International Bank Account Number (IBAN) IBAN structure. 66 SEPA Country Sheets - Netherlands SEPA in Netherlands Useful links Information campaign, by National Forum on SEPA migration www.overopiban.nl IBAN-Acceptgiro information www.acceptgiro.nl/ IBAN BIC conversion service www.ibanbicservice.nl

More information

Italian legacy ABI code 5 numbers. Control internal number (CIN) 1 letter

Italian legacy ABI code 5 numbers. Control internal number (CIN) 1 letter SEPA in Italy Useful links Associazione Bancaria Italiana SEPA (in Italian) http://sepa.abi.it Consorzio CBI SEPA (in English) http://www.cbi-org.eu Quick facts International Bank Account Number (IBAN)

More information

SEPA Country-Specific Information Hungary

SEPA Country-Specific Information Hungary SEPA Country-Specific Information Hungary Cash Management & ebanking January 2014 Contents INTRODUCTION 3 END-DATE INFORMATION 3 IBAN CONVERSION SERVICE 3 SEPA PRODUCTS 4 SEPA CREDITOR IDENTIFIER (CI)

More information

SEPA LOCAL PRACTICES AND IMPLEMENTATION GUIDELINES*

SEPA LOCAL PRACTICES AND IMPLEMENTATION GUIDELINES* BNP Paribas SEPA Newsletter Issue September 2013 SEPA LOCAL PRACTICES AND IMPLEMENTATION GUIDELINES* SEPA (Single Euro Payments Area) aims to harmonise formats and processes for euro payments across every

More information

sepa.bnpparibas.com Cash Management IMPLEMENTING SEPA Your challenges, our expertise

sepa.bnpparibas.com Cash Management IMPLEMENTING SEPA Your challenges, our expertise sepa.bnpparibas.com Cash Management IMPLEMENTING SEPA Your challenges, our expertise February 1, 2014: end of the SEPA transition period The SEPA Migration Regulation which came into force on April 2,

More information

SEPA Country-Specific Information Italy

SEPA Country-Specific Information Italy SEPA Country-Specific Information Italy Cash Management & ebanking January 2014 Contents INTRODUCTION 3 END-DATE INFORMATION 3 IBAN CONVERSION SERVICE 3 SEPA PRODUCTS 4 SEPA CREDITOR IDENTIFIER (CI) 6

More information

What does SEPA Direct Debit (SDD) mean for consumers? V 1.3

What does SEPA Direct Debit (SDD) mean for consumers? V 1.3 What does SEPA Direct Debit (SDD) mean for consumers? V 1.3 1 SEPA for consumers in a nutshell What is SEPA? SEPA = Single Euro Payments Area The Single Euro Payments Area (SEPA) is the area where citizens,

More information

SEPA as a driver for streamlining receivables

SEPA as a driver for streamlining receivables SEPA 2.0: Opportunities and challenges after the end-date by Luca Poletto, BNP Paribas Five years after the go-live date of the first Single Euro Payments Area (SEPA) instrument, we are in the last sprint

More information

Guidance on reason codes for SDD R-transactions

Guidance on reason codes for SDD R-transactions EPC173-14 Version 2.0 Date issued:16 April 2015 Guidance on reason codes for SDD R-transs 1. SDD R-TRANSACTION DEFINITION The content of this document applies to the SEPA Direct Debit Core Scheme Rulebook

More information

EPC Version June 2012 EPC

EPC Version June 2012 EPC EPC139-12 Version 1.1 22 June 2012 EPC SEPA DIRECT DEBIT CORE RULEBOOK CHANGE REQUEST CONSULTATION DOCUMENT The Single Euro Payments Area (SEPA) payment schemes, as set out in the SEPA Credit Transfer

More information

SEPA! No "niche" of questions unanswered. Ready, set... Editorial

SEPA! No niche of questions unanswered. Ready, set... Editorial Ready, set... SEPA! Quarterly bulletin Number 9 2016 No "niche" of questions unanswered Editorial Two years have passed since the famous SEPA end date took place in February 2014. It's definitely one of

More information

SEPA Direct Debit Implementation Guide. Version 1.7

SEPA Direct Debit Implementation Guide. Version 1.7 SEPA Direct Debit Implementation Guide Version 1.7 DANSKE BANK Table of contents 1 Change log... 3 2 Purpose of this document... 4 2.1 Target groups... 4 2.2 Help... 4 3 Introduction to SEPA Direct Debit...

More information

HSBC Your Guide to SEPA. Capitalising on the opportunities

HSBC Your Guide to SEPA. Capitalising on the opportunities HSBC Your Guide to SEPA Capitalising on the opportunities Executive Summary Developed by the European Payments Council, the Single Euro Payments Area or SEPA expands on the vision behind the Euro to establish

More information

SEPA Creditors Guide. SEPA Direct Debit Core Scheme. Version 1.3 Final Page 1 of 38

SEPA Creditors Guide. SEPA Direct Debit Core Scheme. Version 1.3 Final Page 1 of 38 SEPA Creditors Guide SEPA Direct Debit Core Scheme Version 1.3 Final Page 1 of 38 Log of Revisions to the SDD Creditors Guide Version number Version1.1 Brief description of revision Comprehensive guide

More information

Single Euro Payments Area SEPA Herman Ciappara Payments & Banking Department Central Bank of Malta

Single Euro Payments Area SEPA Herman Ciappara Payments & Banking Department Central Bank of Malta Single Euro Payments Area SEPA Herman Ciappara Payments & Banking Department Central Bank of Malta 1 1 Outline What is SEPA? Objectives Opportunities Important SEPA Dates Impact of SEPA Challenges 2 2

More information

SEPA. Frequently Asked Questions

SEPA. Frequently Asked Questions SEPA Frequently Asked Questions Page 1 of 13 Contents General SEPA Questions... 4 What is SEPA?... 4 What is the aim of SEPA?... 4 What are the benefits of SEPA?... 4 What countries are included in SEPA?...

More information

ERP SEPA readiness checklist

ERP SEPA readiness checklist ERP SEPA readiness checklist version July 2013 www.ingsepa.com Financial Supply Chain SEPA This list contains 11 questions to determine the level of SEPA-readiness of an ERP 1. The first 3 questions deal

More information

SEPA Creditors Guide. SEPA Direct Debit Core Scheme. Version 1.4 Final Page 1 of 38

SEPA Creditors Guide. SEPA Direct Debit Core Scheme. Version 1.4 Final Page 1 of 38 SEPA Creditors Guide SEPA Direct Debit Core Scheme Version 1.4 Final Page 1 of 38 Log of Revisions to the SDD Creditors Guide Version number Version1.1 Brief description of revision Comprehensive guide

More information

SEPA - Frequently Asked Questions

SEPA - Frequently Asked Questions SEPA - Frequently Asked Questions Contents SEPA Overview Questions... 2 What is SEPA?... 2 What is the aim of SEPA?... 3 Where did SEPA come from?... 3 What countries are included in SEPA?... 3 What currencies

More information

SEPA and the Changing European Payments Landscape

SEPA and the Changing European Payments Landscape SEPA and the Changing European Payments Landscape finance.arvato.com SEPA is Coming As you probably know by now, SEPA is coming, and it s coming soon. If you do business in the Eurozone, chances are your

More information

Terms and Conditions for Direct Debit Collection.

Terms and Conditions for Direct Debit Collection. Terms and Conditions for Direct Debit Collection. Version as of 3 February 2015 Landesbank Baden-Württemberg - 1 - As at 10/13 Contents Terms and Conditions for Direct Debit Collection Collection Authorization

More information

Microsoft Dynamics NAV. SEPA Credit Transfers and Direct Debits

Microsoft Dynamics NAV. SEPA Credit Transfers and Direct Debits Microsoft Dynamics NAV SEPA Credit Transfers and Direct Debits July 2012 EXECUTIVE SUMMARY... 1 SEPA PAYMENT INSTRUMENTS... 2 SEPA CREDIT TRANSFERS... 2 SEPA DIRECT DEBITS... 2 OVERVIEW OF SEPA DIRECT

More information

SEPA domiciliation FAQ

SEPA domiciliation FAQ SEPA domiciliation FAQ To see the FAQ about SEPA Direct Debit, click on the question to accede directly to our answers! 1. What is SEPA domiciliation (Sepa Direct Debit = SDD)? 2. What happens after 01/02/2014?

More information

SEPA (ISO XML) Direct Debit payments. July 2014

SEPA (ISO XML) Direct Debit payments. July 2014 SEPA (ISO 20022 XML) Direct Debit payments This white paper describes the functionality in Microsoft Dynamics AX that supports the Single Euro Payments Area (SEPA) Direct Debit (ISO 20022 XML) payment

More information

FAQ wirecard technologies

FAQ wirecard technologies FAQ wirecard technologies contents 1. BASICS... 3 2. Questions about the transition from national schemes to SEPA... 8 3. Questions about the SEPA Core direct debit (B2C)... 12 3.1 General... 12 3.2 Pre-Notification...

More information

Legal aspects e-mandates

Legal aspects e-mandates Legal aspects e-mandates European Payments Platform 2014 Euroforum Annemieke van der Beek Annemieke.van.der.beek@kvdl.nl Joris van Horzen Joris.van.horzen@kvdl.nl 16 December 2014 SEPA mandates With a

More information

NATIONAL SEPA MIGRATION PLAN. 17 th February 2012

NATIONAL SEPA MIGRATION PLAN. 17 th February 2012 NATIONAL SEPA MIGRATION PLAN 17 th February 2012 TABLE OF CONTENTS CHAPTER 1 PREFACE 6 CHAPTER 2 FRAMEWORK FOR THE SEPA MIGRATION PLAN 7 2.1 Summary of the European SEPA Regulation 7 2.2 Points of departure

More information

SEPA Direct Debit Initiation Customer-to-Bank Implementation Guidelines for the Netherlands

SEPA Direct Debit Initiation Customer-to-Bank Implementation Guidelines for the Netherlands SEPA Direct Debit Initiation Customer-to-Bank Implementation Guidelines for the Netherlands CORE and Business-to-Business Implementation Guidelines Disclaimer These guidelines may be subject to changes.

More information

ICEPAY & SEPA Direct Debit

ICEPAY & SEPA Direct Debit ICEPAY & SEPA Direct Debit Page 1 July 2014 S. Campbell v0.5 Table of Contents 1. Purpose of this document... 3 1.1 Support... 3 2. SEPA - Introduction... 3 2.1 SEPA - Goals... 3 2.2 SEPA Bank accounts,

More information

Clarification Paper SEPA Credit Transfer and SEPA Direct Debit

Clarification Paper SEPA Credit Transfer and SEPA Direct Debit EPC348-12 Version 2.0 Date issued: 16 May 2013 EPC Clarification Paper SEPA Credit Transfer and SEPA Direct Debit Abstract This document addresses operational issues arising from implementation of the

More information

Clarification Paper SEPA Credit Transfer and SEPA Direct Debit

Clarification Paper SEPA Credit Transfer and SEPA Direct Debit EPC348-12 Version 2.1 Date issued: 06 November 2015 EPC Clarification Paper SEPA Credit Transfer and SEPA Direct Debit Abstract Document Reference This document addresses operational issues arising from

More information

SEPA DIRECT DEBIT THE EUROPEAN DIRECT DEBIT

SEPA DIRECT DEBIT THE EUROPEAN DIRECT DEBIT SEPA DIRECT DEBIT THE EUROPEAN DIRECT DEBIT CONTENTS INTRODUCTION 3 THE EUROPEAN DIRECT DEBIT SCHEME (SEPA DIRECT DEBIT) 4 THE EUROPEAN DIRECT DEBIT MANDATE 6 «CORE» & «B2B»: TWO DIFFERENT EUROPEAN 7 DIRECT

More information

SEPA og Nordic Payments Area

SEPA og Nordic Payments Area SEPA og Nordic Payments Area Finans Norge s Betalingsformidlingskonferanse Thon Hotel, Lillestrøm, 29-30 oktober 2013 By Dag-Inge Flatraaker, General Manager, Group Payments Infrastructure, DNB Bank A

More information

Single Euro Payments Area

Single Euro Payments Area Single Euro Payments Area Overview SEPA (Single Euro Payments Area) is a European payments initiative which aims to create one single, integrated, standardised payments market in Europe. It is an area

More information

Information Concerning the Use of the SEPA Payment Schemes

Information Concerning the Use of the SEPA Payment Schemes DEUTSCHES PATENT- UND MARKENAMT 80297 München Telephone: +49 89 2195-0 Telephone enquiries: +49 89 2195-3402 Internet: http://www.dpma.de Beneficiary: Bundeskasse Halle/DPMA IBAN: DE84 7000 0000 0070 0010

More information

Endorsed by: SEPA GUIDANCE

Endorsed by: SEPA GUIDANCE Endorsed by: SEPA GUIDANCE PRACTICAL GUIDANCE FOR THE IMPLEMENTATION OF REGULATION (EU) N O 260/2012 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 14 MARCH 2012 ESTABLISHING TECHNICAL AND BUSINESS REQUIREMENTS

More information

SEPA CORE DIRECT DEBIT SCHEME CUSTOMER-TO-BANK IMPLEMENTATION GUIDELINES

SEPA CORE DIRECT DEBIT SCHEME CUSTOMER-TO-BANK IMPLEMENTATION GUIDELINES Doc: EPC130-08 30 November 2012 (Version 7.0 Approved) EPC SEPA CORE DIRECT DEBIT SCHEME CUSTOMER-TO-BANK IMPLEMENTATION GUIDELINES Abstract Document Reference Issue This document sets out the rules for

More information

How to get your Company ready for Information for BUSINESS

How to get your Company ready for Information for BUSINESS Version 2.0 - September 2009 How to get your Company ready for Information for BUSINESS All you need to know about SEPA EPC brochures* Making SEPA a Reality the definitive Guide to the Single Euro Payments

More information

EUROPEAN DIRECT DEBIT. ING Luxembourg s SEPA Direct Debit. European Direct Debit 1

EUROPEAN DIRECT DEBIT. ING Luxembourg s SEPA Direct Debit. European Direct Debit 1 EUROPEAN DIRECT DEBIT ING Luxembourg s SEPA Direct Debit European Direct Debit 1 EUROPEAN DIRECT DEBIT OR SEPA DIRECT DEBIT 3 Introduction to the European direct debit 3 Which countries are part of SEPA?

More information

SEPA DATA MODEL. Reason for Issue Approved by the EPC Plenary on 13 December 2006

SEPA DATA MODEL. Reason for Issue Approved by the EPC Plenary on 13 December 2006 Doc: EPC029-06 (Version 2.2) 13 December2006 OITS SG SEPA DATA MODEL Abstract Document Reference Issue This document sets out the SEPA Data Model which is referred to in the SEPA Credit Transfer and Direct

More information

SEPA Mandate Guide. Contents. 1.0 The purpose of this document 2. 2.0 Why mandates are required 2. 2.1 When a new mandate is required 2

SEPA Mandate Guide. Contents. 1.0 The purpose of this document 2. 2.0 Why mandates are required 2. 2.1 When a new mandate is required 2 SEPA Mandate Guide Contents 1.0 The purpose of this document 2 2.0 Why mandates are required 2 2.1 When a new mandate is required 2 2.2 Cancellation of a mandate 2 2.3 When to amend a mandate 2 3.0 Mandate

More information

Clarification Paper SEPA Credit Transfer and SEPA Direct Debit

Clarification Paper SEPA Credit Transfer and SEPA Direct Debit EPC348-12 Version 1.1 Date issued: 23 January 2013 EPC Clarification Paper SEPA Credit Transfer and SEPA Direct Debit Abstract This document addresses operational issues arising from implementation of

More information

SEPA Direct Debit Initiation Customer-to-Bank Implementation Guidelines for The Netherlands

SEPA Direct Debit Initiation Customer-to-Bank Implementation Guidelines for The Netherlands SEPA Direct Debit Initiation Customer-to-Bank Implementation Guidelines for The Netherlands CORE and Business-to-Business Implementation Guidelines Disclaimer These guidelines may be subject to changes.

More information

Deutsche Bank Global Transaction Banking. Internet Bankieren. Entering Payments and Collections. www.deutschebank.nl

Deutsche Bank Global Transaction Banking. Internet Bankieren. Entering Payments and Collections. www.deutschebank.nl Deutsche Bank Global Transaction Banking Internet Bankieren Entering Payments and Collections www.deutschebank.nl Internet Bankieren Entering Payments and Collections 2 Entering payments and collections

More information

for CONSUMERS Information on the SINGLE EURO PAYMENTS AREA

for CONSUMERS Information on the SINGLE EURO PAYMENTS AREA Version 5.0 - February 2014 for CONSUMERS Information on the SINGLE EURO PAYMENTS AREA All you need to know about SEPA EPC Shortcut Series* Shortcut to SEPA Shortcut to the SEPA Direct Debit Schemes Shortcut

More information

The SEPA Regulation Guidance

The SEPA Regulation Guidance The SEPA Regulation Guidance May 2013* *This guidance was previously developed and published by Payments Council, which was replaced by a new trade association Payments UK - at the end of June 2015. To

More information

Nordea Account structure. Corporate egateway

Nordea Account structure. Corporate egateway Nordea Account structure Corporate egateway 1. Nordea Account structures The purpose of this document is: A) To provide an overview of the possibilities for customer to send and receive BBAN and IBAN account

More information

SEPA Credit Transfer. Readiness Checklist

SEPA Credit Transfer. Readiness Checklist SEPA Credit Transfer Readiness Checklist This document is published by Bank of Ireland, and both it, and its contents, are the property of Bank of Ireland. This document may not be reproduced or further

More information

October 2012. SEPA Migration Guide for Ireland

October 2012. SEPA Migration Guide for Ireland October 2012 SEPA Migration Guide for Ireland 3 A Migration Guide to Ireland SEPA Migration Guide for Ireland Contents 1. Background to SEPA... 4 2. Overseeing SEPA... 7 3. Implementation timescale...

More information

The SEPA Regulation Information for consumers. The SEPA Regulation. May 2013*

The SEPA Regulation Information for consumers. The SEPA Regulation. May 2013* The SEPA Regulation May 2013* *This guidance was previously developed and published by Payments Council, which was replaced by a new trade association Payments UK - at the end of June 2015. To this end

More information

A Steria Report SEPA: will European businesses be ready for the transformation? Prepared in collaboration with. è www.steria.com

A Steria Report SEPA: will European businesses be ready for the transformation? Prepared in collaboration with. è www.steria.com A Steria Report SEPA: will European businesses be ready for the transformation? Prepared in collaboration with è www.steria.com 02 SEPA : will European businesses be ready for the transformation? è www.steria.com

More information

Migration of mandates based on NBB file. version July

Migration of mandates based on NBB file. version July Financial Supply Chain SEPA Migration of mandates based on NBB file version July 2013 www.ingsepa.com Background 1 Acquisition 1 Formats 1 DOM80 migration 2 Processing of the NBB migration file 2 SDD Mandate

More information

Treasury & Trade Solutions. SEPA Heat Map. August 2013

Treasury & Trade Solutions. SEPA Heat Map. August 2013 Treasury & Trade Solutions SEPA Heat Map August 2013 SEPA Current Uptake across the market SEPA Credit Transfers June - 47% % SEPA Credit Transfer is steadily increasing month-on-month and stands at 47%

More information

SEPA Direct Debit Creditor Guide

SEPA Direct Debit Creditor Guide SEPA SEPA Direct Debit Creditor Guide Glossary of Terms Version Control Version Date Name Update V1.0 30/10/2013 Bank of Ireland Creditors Guide published on BOI website This document is published by Bank

More information

Terms and Conditions for SEPA Direct Debit Collection Service, Great Britain

Terms and Conditions for SEPA Direct Debit Collection Service, Great Britain Terms and Conditions for SEPA Direct Debit Collection Service, Great Britain These Special Terms and Conditions for SEPA Direct Debit collection service, Great Britain (the Special Terms and Conditions

More information

IBAN/SEPA-migration of the Netherlands

IBAN/SEPA-migration of the Netherlands IBAN/SEPA-migration of the Netherlands Michiel van Doeveren Macedonian Financial Sector Conference on PSSS Ohrid 5 June 2012 Agenda - Backround of SEPA - SEPA products - SEPA Migration Monitor - National

More information

TERMS AND CONDITIONS FOR COLLECTION SERVICE SEPA DIRECT DEBIT

TERMS AND CONDITIONS FOR COLLECTION SERVICE SEPA DIRECT DEBIT TERMS AND CONDITIONS FOR COLLECTION SERVICE SEPA DIRECT DEBIT Danske Bank A/S. CVR no. 61 12 62 28 - København This brochure sets out the terms and conditions for the creation of all of your SEPA Direct

More information

SEPA. Changes in the Payment System Implementation of the European SEPA Regulations for Kuna and Euro Payments

SEPA. Changes in the Payment System Implementation of the European SEPA Regulations for Kuna and Euro Payments SEPA Changes in the Payment System Implementation of the European SEPA Regulations for Kuna and Euro Payments SEPA The Single Euro Payments Area (SEPA) stands for a European Union (EU) payments integration

More information

SEPA MIgRATION REPORT. MARCh 2013

SEPA MIgRATION REPORT. MARCh 2013 SEPA MIgRATION REPORT MARCh 2013 SEPA MIGRATION REPORT MARCH 2013 In 2013 all publications feature a motif taken from the 5 banknote. European Central Bank, 2013 Address Kaiserstrasse 29 60311 Frankfurt

More information

ABNAMRO addendum on the XML message for SEPA Credit Transfer Initiation Implementation Guidelines for the Netherlands

ABNAMRO addendum on the XML message for SEPA Credit Transfer Initiation Implementation Guidelines for the Netherlands on the XML message for SEPA Credit Transfer Initiation Implementation Guidelines for the Netherlands Version 1.0 December 2010 Contents 1. Introduction...8 Character Set...9 2. Message items description...10

More information

SEPA Reason Codes. Direct Debit Customer to Bank Implementation Guidelines

SEPA Reason Codes. Direct Debit Customer to Bank Implementation Guidelines SEPA Reason s The SEPA reason codes in this document are sourced from the following European Payments Council Implementation Guideline documentation which detail the customer-to-bank and inter-bank formats

More information

SEPA What should you be thinking about?

SEPA What should you be thinking about? SEPA What should you be thinking about? The Single European Payments Area - you re steadily seeing talk of it everywhere. The new financial structure for banking in the Eurozone will mean changes for every

More information

SEPA CORE DIRECT DEBIT SCHEME RULEBOOK

SEPA CORE DIRECT DEBIT SCHEME RULEBOOK EPC016-06 Version 7.1 Approved Date issued: 27 January 2014 Date effective: 1 February 2014 SEPA CORE DIRECT DEBIT SCHEME RULEBOOK Conseil Européen des Paiements AISBL Cours Saint-Michel 30A B 1040 Brussels

More information

SEPA BUSINESS TO BUSINESS DIRECT DEBIT SCHEME RULEBOOK

SEPA BUSINESS TO BUSINESS DIRECT DEBIT SCHEME RULEBOOK EPC222-07 Version 6.2 Date issued: 03 March 2016 Date effective: 01 April 2016 SEPA BUSINESS TO BUSINESS DIRECT DEBIT SCHEME RULEBOOK Conseil Européen des Paiements AISBL Cours Saint-Michel 30 B 1040 Brussels

More information

Occasions leading to mandate amendments

Occasions leading to mandate amendments SEPA Direct Debit Instructions on the initiation format in case of amendments Occasions leading to mandate amendments During the use of the SEPA Direct Debit (SDD) product there are a number of occasions,

More information

BUSINESS JUSTIFICATION

BUSINESS JUSTIFICATION BUSINESS JUSTIFICATION FOR THE DEVELOPMENT OF NEW UNIFI (ISO 20022) FINANCIAL REPOSITORY ITEMS Name of the request: Payments Mandates Submitting organization: SWIFT SCRL Avenue Adèle, 1 1310 La Hulpe Belgium

More information

SEPA CORE DIRECT DEBIT SCHEME RULEBOOK

SEPA CORE DIRECT DEBIT SCHEME RULEBOOK EPC016-06 Version 9.2 Date issued: 03 March 2016 Date effective: 20 November 2016 SEPA CORE DIRECT DEBIT SCHEME RULEBOOK Conseil Européen des Paiements AISBL Cours Saint-Michel 30 B 1040 Brussels Tel:

More information

SEPA Credit Transfer Customer-to-Bank Implementation Guidelines for the Netherlands

SEPA Credit Transfer Customer-to-Bank Implementation Guidelines for the Netherlands SEPA Credit Transfer Customer-to-Bank Implementation Guidelines for the Netherlands Disclaimer These guidelines may be subject to changes. Utmost care has been taken to ensure the information in this publication

More information

Roadmap for the Single Euro Payments Area

Roadmap for the Single Euro Payments Area www.europeanpaymentscouncil.eu Roadmap for the Single Euro Payments Area Status and progress Gerard Hartsink Chair - European Payments Council Raad Nederlandse Detailhandel Utrecht, 28 augustus 2009 Agenda

More information

Intra-day payment Frequently asked questions

Intra-day payment Frequently asked questions Intra-day payment Frequently asked questions Contents 1. THE MEANING, advantages and scope of intra-day payment... 3 1.1. What does the launch of intra-day payment mean?... 3 1.2. What advantages does

More information

2. HOW TO CREATE A NEW XML SDD CORE FILE IN TELELINK 6 FROM A.CSV FILE 4. 2.1. Run the application Telelink 6 4

2. HOW TO CREATE A NEW XML SDD CORE FILE IN TELELINK 6 FROM A.CSV FILE 4. 2.1. Run the application Telelink 6 4 Financial S upp ly C hai n SEPA Creating an XML SDD CORE file from.csv file in Telelink 6 Version March 2014 ing.be/sepa 1. INTRODUCTION 3 2. HOW TO CREATE A NEW XML SDD CORE FILE IN TELELINK 6 FROM A.CSV

More information

Delegations will find below a Presidency compromise text on the above Commission proposal, to be discussed at the 12 May 2011 meeting.

Delegations will find below a Presidency compromise text on the above Commission proposal, to be discussed at the 12 May 2011 meeting. COUNCIL OF THE EUROPEAN UNION Brussels, 5 May 2011 9533/11 Interinstitutional File: 2010/0373 (COD) EF 61 ECOFIN 226 CONSOM 67 CODEC 710 NOTE from: to: Subject: Presidency Delegations Proposal for a Regulation

More information

SEPA BUSINESS TO BUSINESS DIRECT DEBIT SCHEME RULEBOOK

SEPA BUSINESS TO BUSINESS DIRECT DEBIT SCHEME RULEBOOK EPC222-07 Version 5.0 Approved Date issued: 30 November 2012 Date effective: 1 February 2014 SEPA BUSINESS TO BUSINESS DIRECT DEBIT SCHEME RULEBOOK Conseil Européen des Paiements AISBL Cours Saint-Michel

More information

SEPA the new European payments system.

SEPA the new European payments system. SEPA the new European payments system. Recommendations for switching to SEPA payments. Statutory requirement as from 2 August 2014. 3/2014 SEPA Contents 5 Objectives of SEPA. 6 Creation of SEPA. 7 Timeframe.

More information

Addendum on the XML message for SEPA Direct Debit Initiation (PAIN)

Addendum on the XML message for SEPA Direct Debit Initiation (PAIN) Deutsche Deutsche Bank Bank Addendum on the XML message for SEPA Direct Debit Initiation (PAIN) Addendum on the XML message for SEPA Direct Debit Initiation (PAIN) 01 Contents Introduction 03 1.1 Change

More information

Format description XML SEPA Credit Transfer. Format Description

Format description XML SEPA Credit Transfer. Format Description Format description XML SEPA Credit Transfer Format Description CONTENTS 1 SEPA CT Import format 3 1.1 SEPA CT import format description 3 1.1.1 Description 3 1.1.2 General characteristics 3 1.1.3 Difference

More information

AX 2012 R3 SEPA (ISO 20022 XML) Credit transfer and direct debit payments Date: March 3 rd, 2015

AX 2012 R3 SEPA (ISO 20022 XML) Credit transfer and direct debit payments Date: March 3 rd, 2015 Contents Introduction... 2 Setup Credit Transfer... 3 Export the xml stylesheet for the payment format from AOT... 3 Setup a batch job to generate SEPA files... 4 Setup Outbound ports for electronic payments...

More information

SEPA Testing Framework. Wat is SEPA? LogicaCMG 2007 1. Rik Marselis. Even voorstellen: Rik Marselis

SEPA Testing Framework. Wat is SEPA? LogicaCMG 2007 1. Rik Marselis. Even voorstellen: Rik Marselis Wat is SEPA? Rik Marselis 17 oktober 2007 LogicaCMG 2007. All rights reserved Even voorstellen: Rik Marselis Senior Test Adviseur o.a. bij European Payments Council Penningmeester van Belgium & Netherlands

More information

pg. 2 pg. 6 pg.8 pg. 20

pg. 2 pg. 6 pg.8 pg. 20 SEPA Extra Payment news pg. 2 pg. 6 pg.8 pg. 20 SEPA harmonises payments The account number format when SEPA is valid SEPA will cause changes to material transfer services Is your company ready for SEPA?

More information

FREQUENTLY ASKED QUESTIONS ABOUT SEPA

FREQUENTLY ASKED QUESTIONS ABOUT SEPA FREQUENTLY ASKED QUESTIONS ABOUT SEPA 1. What does SEPA mean? SEPA stands for Single Euro Payments Area. 2. What countries are part of SEPA? The SEPA includes 31 countries: the 27 EU members plus Norway,

More information

THE BANK ACCOUNT AT THE HEART OF THE DIGITAL EXPERIENCE. MyBank for Service Providers

THE BANK ACCOUNT AT THE HEART OF THE DIGITAL EXPERIENCE. MyBank for Service Providers THE BANK ACCOUNT AT THE HEART OF THE DIGITAL EXPERIENCE MyBank for Service Providers 33 rd EPSM Meeting March 12 th, Munich v MyBank is owned by Preta S.A.S, a wholly owned subsidiary of EBA CLEARING Moritz

More information

SEPA DIRECT DEBIT SCHEME IMPLEMENTATION GUIDELINES

SEPA DIRECT DEBIT SCHEME IMPLEMENTATION GUIDELINES Doc: EPC114-06 19 June 2007 (Version 2.3 ) OITS SG SEPA DIRECT DEBIT SCHEME IMPLEMENTATION GUIDELINES Abstract Document Reference Issue This document sets out the SEPA rules for implementing the direct

More information

SEPA CORE DIRECT DEBIT SCHEME INTER-BANK IMPLEMENTATION GUIDELINES

SEPA CORE DIRECT DEBIT SCHEME INTER-BANK IMPLEMENTATION GUIDELINES Doc: EPC114-06 25 November 2014 (Version 8.0 Approved) EPC SEPA CORE DIRECT DEBIT SCHEME INTER-BANK IMPLEMENTATION GUIDELINES Abstract Document Reference Issue This document sets out the rules for implementing

More information

SEPA Migration Monitoring Committee. Action plan for migration to SEPA direct debits and credit transfers in Spain

SEPA Migration Monitoring Committee. Action plan for migration to SEPA direct debits and credit transfers in Spain Action plan for migration to SEPA direct debits and credit transfers in Spain December 2012 Introduction Although various years have passed since the introduction of the new SEPA payment instruments, their

More information

SEPA. November Informatie Beleggen ABN AMRO

SEPA. November Informatie Beleggen ABN AMRO Informatie Beleggen Direct Debit november Rules 2011 ABN AMRO SEPA November 2015 SEPA Direct Debit Rules This translation is furnished for the client s convenience only. The original Dutch text, which

More information

Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL

Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL EUROPEAN COMMISSION Brussels, 9.1.2014 COM(2013) 937 final 2013/0449 (COD) Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU) N 260/2012 as regards the migration

More information

SEPA Credit Transfers Originators Guide

SEPA Credit Transfers Originators Guide SEPA Credit Transfers Originators Guide This document is published by Bank of Ireland, and both it, and its contents, are the property of Bank of Ireland. This document may not be reproduced or further

More information

Format Description. SWIFT MT103 Single Customer Credit Transfer

Format Description. SWIFT MT103 Single Customer Credit Transfer De Format Description SWIFT MT103 Single Customer Credit Transfer COLOPHON Title Format Description SWIFT MT103 Version, date 1.3, June 2015 On behalf of Contact address Corporate Client Channels Rabobank

More information

Bilateral and Multilateral Processing of Card Transactions in Europe. A Card Scheme Independent Message Standard. White Paper

Bilateral and Multilateral Processing of Card Transactions in Europe. A Card Scheme Independent Message Standard. White Paper THE Berlin GROUP A EUROPEAN INITIATIVE FOR CARD PAYMENTS IN EUROPE Bilateral and Multilateral Processing of Card Transactions in Europe A Card Scheme Independent Message Standard White Paper 25/02/2009

More information

SEPA INFORMATION EXCHANGE Transitional Provisions, Additional Optional Services, and other complications for the migration

SEPA INFORMATION EXCHANGE Transitional Provisions, Additional Optional Services, and other complications for the migration INTERNATIONAL BANKING ASSOCIATION SEPA INFORMATION EXCHANGE Transitional Provisions, Additional Optional Services, and other complications for the migration July 2013 MEMBER & ASSOCIATE BANKS Member Bank

More information

The Belgian SEPA Migration Plan. Belgium as part of the Single Euro Payments Area

The Belgian SEPA Migration Plan. Belgium as part of the Single Euro Payments Area The Belgian SEPA Migration Plan Belgium as part of the Single Euro Payments Area Version 3.1 July 2007 2/25 Belgian Migration Plan to the Single Euro Payments Area (SEPA) VERSION 3.1 July, 2007 The purpose

More information