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1 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 in each country. In some others, the migration of specific products still have to be completed. This document will help you understand the local specifics applicable in France. Intending to provide a global picture of the transition to SEPA, it also describes the elements that permitted the migration from the legacy means of payment. POST MIGRATION STATUS The European authorities agreed on allowing banks and other payment providers to process payments that differ from the SEPA format until 1 st of August Each Member State has taken a position towards the application of this proposal. France reused the proposed date of 1 st of August 2014 for the migration of both credit transfers and direct debits. Four means of payments were in scope of the SEPA regulation: one credit transfer product called Virement and three types of direct debit: Prélèvement, Titre Interbancaire de Paiement (TIP) and Téléréglement. Both the TIP and Téléréglement have been declared as niche products, and still have to be migrated to SEPA by February 2016.

2 France had one single credit transfer format: the CFONB. This format is no longer supported for Euro payments within the SEPA area, but remains in use for international payments. pain.001 is the XML standard used for communications between the ordering party and their bank. In addition to the specifications provided by the EPC, some attention points should be taken into account: PAIN.001 currently exists in 3 versions. A company starting initiating SEPA credit transfers by files should implement the last version PAIN as indicated in the Rulebook 6 (downloadable from the EPC website). French banks agreed to follow the standard EPC recommendations, without any specificity. The local interbank comity, the CFONB, publishes detailed guidelines coming with usage examples of common market habits supported by most banks, such as treasury payments and request for transfers.

3 France was supporting three domestic direct debit formats. Two of them have been declared as niche product, meaning they remain valid until 1 st February Product Description Validity SDD Continuity Prélèvement Main domestic direct debit product, Phased out since the Existing mandates based on the CFONB160 format 1 st August 2014 remain valid for SDD Prélèvement accéléré TIP Same as Prélèvement, but with shorter execution delay (2 days instead of 4) TIP is similar to the Prélèvement, except that the client must authorize every operation by signing and returning a paper that come with his invoice. Phased out since the 1 st August 2014 Part of a niche product. Valid until the 1 st February 2016 Core Existing mandates remain valid for SDD Core Discussions are still ongoing regarding mandate continuity Téléréglement This format is used by a small set of specific entities only. Other variant, the Téléréglement requires the debtor to indicate to his bank, for each operation, the amount that will then be debited at due date by the creditor. The product is mostly used for tax purpose. Part of a niche product. Valid until the 1 st February 2016 Discussions are still ongoing regarding mandate continuity Among other means of payments out of scope of SEPA, France has the Lettre de change relevée (LCR), a system quite similar to a direct debit. In this scheme, the creditor and the ultimate creditor are different persons, and the debtor has very few possibilities to obtain a refund. Even if this payment mean is out of scope of SEPA, it could be interesting for a company willing to harmonize his means of payment to replace LCRs by SEPA direct debits. French banks agreed to follow the EPC standard recommendations, without any specifics. As for SCT, the detailed guidelines are available on the CFONB website: Receiving a SEPA Creditor Identifier is mandatory to start using SDD. This number will identify your company wherever you will be collecting within the SEPA zone. Note that you can request one SEPA CI for each of your business activities.

4 The French Central Bank (Banque de France) manages the SEPA CI register. Only Creditors with an account at a Payment Service Provider (PSP) in France may ask for a French creditor identifier. The request of such an identifier must be introduced by the creditor to his bank, that in his turn will make the request to the Banque de France. This creditor s bank must have an agreement for working in France including some French Overseas Collectivities (départements d'outre-mer... Please refer to the EPC country list EPC409-09). The ICS is transmitted by Banque de France to the requesting PSP which relays the information to the Creditor. When requesting a SEPA CI to his bank, the creditor must also give an extrait Kbis earlier than 3 months. This document can be requested to a greffe du tribunal de commerce (physically or online via infogreffe.fr). The French format is the following: FR 12 ZZZ The first 2 characters indicate the country code: FR 3 rd and 4 th are the standard SEPA check digits. 5 th to 7 th indicate the creditor s business code (by default: ZZZ) The last 6 characters are composed of the NNE (Numéro National d Emetteur). Today, a company requesting a NNE in France will automatically receive a SEPA CI with its NNE. French mandates are currently only available in paper format. Electronic mandates will only come with the new European e-mandate regulation. France proposes the usage of the standard EPC template. 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. Mandates that aren t yet migrated to SEPA can still be migrated, until the last debit that occurred for this mandate is 3 years old. Migrating a mandate meant that you already have a domestic mandate authorizing you to debit the account of one of your customer and that you will continue using the same mandate, only with SEPA compliant collections. A mandate is considered as migrated when its first related collection in SEPA format has been successfully performed. One of the benefits of the migration is that you can continue to debit your customers with no need for them to re-sign a SEPA mandate. To migrate your mandates, you should consider the two following major points:

5 The current Prélèvement mandates can be migrated to SDD Core. All the B2B mandates will require a signature of a new mandate. Concerning TIP and Téléréglement, discussions are still ongoing to determine the migration approach. France had a specific Original NNE tag to migrate mandates. It should be used by the creditor when his SEPA Creditor Identifier does not contain the NNE used in the original domestic mandate. This data is used by the debtor s bank in order to associate the migrated mandate to the previous mandate, allowing to check if the debtor has placed an opposition on to the creditor. French authorities recommend to start the Unique Mandate Reference by ++, which will indicate that it is a migrated mandate and therefore that the debtor s bank must analyse the tag containing the original NNE. In France, a migrated mandate must have a sequence type First. Therefore, it must be sent 5 days upfront the value date.

6 In case you need to convert a large database of accounts, your BNPP point of contact will be able to guide you to the best partners. In France, the IBAN is composed of 27 digits with the following structure: FRkk BBBB BGGG GGCC CCCC CCCC CKK The first two digits identify the country of the account and are therefore always: FR. k: The next two digits correspond to the standard IBAN check digit. B: Positions 5 to 9 corresponds to the Code Banque G: Positions 10 to 14 correspond to the Code Guichet C: Positions 15 to 25 correspond to the RIB account number K: Last 2 positions being a check digit Example: FR M The BIC cannot easily be deducted from the RIB, you need to use tables to map the RIB and the BIC code of the bank. It is easier to have this done for you by a specialist. Example: BNPAFRPP can be used for all French BNP Paribas accounts, but you can also use branch BIC codes in eleven positions. For BNP Paribas, you can use both, for some local banks you need to use the complete branch BIC codes in eleven positions.

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