Towards a Single Euro Payments Area
On February 1, 2014 SEPA will be implemented for all euro payments. This means companies (and individuals) will no longer be able to receive payments for goods and services via your current bank transfers or direct debits. This must now be done according to the new SEPA standards and products. The transition to SEPA will have profound implications for your company’s financial processes, cooperation with suppliers, customers and of course the bank(s).