SEPA has transformed the euro payments area into a borderless one. It impacts cross-border payments within Europe, and almost all payment procedures are handled as national procedures.
SEPA was implemented in 2008 for credit transfers. In 2009, the services were extended to direct debits, further evolving SEPA toward its actual performance.
October 2016
Reachability for SEPA credit transfer and SEPA direct debit core in non-EUR countries. EU payment service providers in non-EUR countries must adhere to the specific requirements.
February 2014
The effective date for SEPA compliance for corporate clients was August 1, 2014.
Technical and business requirements for credit transfers and direct debits (EUR countries, national transitional periods) are still possible.
April 2012
“EU price regulation” changed and the EUR 50,000 threshold was eliminated.
Reachability for SEPA Credit Transfer and SEPA Direct Debit Core in EUR countries.
The original amount is forwarded without any deduction; charges and fees are billed separately (the originator and the beneficiary share the costs). The amount must be credited to the beneficiary’s account within one business day. Harmonized standards and formats simplify order-placing and automation, and also for returned payments.