- Knowledge Centre
- Single Euro Payments Area
Single Euro Payments Area (SEPA)
- SEPA European Commission (EC) and European Payments Council
(EPC) initiative to reduce the costs of cross-border electronic
Euro payments (to domestic transaction levels).
- Legally-binding deadline of 1 February 2014 for migration from
domestic to SEPA payments.
- SEPA will not affect the way UK companies trade in Sterling,
but will enable them to make cheaper and, in time, faster payments
- The cheapest SEPA Credit Transfers from UK-based banks are from
the likes of Bank of Ireland and Allied Irish Banks - as the
Republic of Ireland currency is the Euro.
- A SEPA Credit Transfer (SCT) is a non-urgent, cross-border Euro
payment made between any two SEPA countries within three days,
including Euro payments within the UK.
- A SEPA Direct Debit (SDD) will enable Direct Debit
originators to collect Euro payments from any SEPA country,
including their own domestic DDs, using a single Direct Debit
- Most UK banks are now part of the SEPA scheme, but they refer
to transactions as 'Euro Transfers' or 'non-urgent cross-border
payments' and so on.
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International Payments via SAS service or WUBS service
- As an Associate member of the UK Payments Council, a SWIFT
Solution Partner and a member of the Bacs Affiliates Interest Group,
Bottomline Technologies is well placed to drive SEPA forwards.
- We work closely on issues relating to SEPA with VocaLink, VISA,
MasterCard, Equens, EACHA, all the major UK Banks and some of the
major European banks.
- For high value, high volume global transactions, the SAS
service from our London office offers the facility to process
international payments. We also have a strategic
alliance with WUBS enables us to deliver GlobalPay, a secure and
reliable cross-border payments solution that handles all major