Benefits at a glance
Step for step more transparency and less costs
The introduction of SEPA over the next few years will create a single area for euro payment transactions. You too will benefit.
- Since 2008 new cost-efficient SEPA products are available for euro payments in over 30 SEPA countries.
- SEPA guarantees that the amount transferred will be credited to the recipient's account within a maximum of one bank business day from submission of the payment order at any bank in the SEPA area.
- SEPA ensures full transparency starting from the time you issue your order. You can rely on the full amount being transferred to the beneficiary, without any third-party costs being deducted from the transaction amount. Some recipient banks are charging a price for the incoming payment. This price must be communicated to the client.
- You can consolidate account management for your euro payments throughout the entire SEPA area in one account.
- A completely new euro direct debit system is available for all SEPA countries since 2009.
- Managing your client data will take less time and be more streamlined. It makes no difference which country you are based in - master data such as IBAN and BIC are standardized for all European business partners.
- Standardized check criteria increase security for the transmission of your data.
- Your payment transactions will be transferred in a unified trans-European format.
- You can automate and optimize all the processes throughout the entire payment chain. This is made possible by SEPA-wide transmission of complete, structured details of reason for payment and reference fields.
Products and services in these webpages may not be available for residents of certain nations. Please consult the sales restrictions relating to the service in question for further information.
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