1. What changes will come with SEPA

    1. All companies and consumers swith to IBAN-International Bank Account Number. The old bank account number is converted into a new account with 18 digits. It looks likes this: NL02ABNA0123456789 (land code-check digit-bank code-account number prefixed with zero's if required.
    2. The credit transfer becomes an European transfer (SEPA Credit Transfer) based on IBAN. Next to this additional fields come available to capture more data and amounts become
    visible for the beneficiary ultimately one day after instruction being given to the bank.
    3. Ideal, Finbox, paper transaction form and preprinted giro credit slip will be made suited for IBAN.
    4. All these changes impact all systems of corporates (debtor- and creditor
    administration, company stationary, invoices, websites, webshops, etc.) and need to be changed.
    Sending in bulk payments will be based on a new data format ISO XML instead of ClieOp.
    5. Only two direct debit versions remain:
    a. General direct debit for consumers and corporates with right of refund
    b. Business to business direct debit for corporates only without right of refund
    New direct debit contract with your bank is required.
    6. Only paper mandates are formerly aloud and additional information is required (collector's id).
    7. Changed timeliness for sending in Direct Debit instructions has big impact on setup of business
    processes.

  2. SEPA offers opportunities to reduce cost

    1. Centralize payment function.
    2. Product rationalisation (e.g. e-Invoicing / stop preprinted giro credit slip).
    3. Optimize processes (e.g. STP and degree of reconciliation).
    4. Reduce the number of bank relations.
    5. Pooling of transactions volumes to one location with improved buying power to supplier.
    6. Higher profits due to improved cash management.

  3. Next steps for SEPA

    1. SEPA Call Center:
    We can support you with running a call center. Your bank clients will be informed about changes and impact of SEPA.
    2. SEPA Knowledge Center:
    We will support you with improving SEPA knowledge of your staff by giving training and education.
    3. SEPA Consulting Center:
    a. We will give SEPA awareness presentations to you bank clients on their premises to explain SEPA
    in detail.
    b. We execute an impact analysis to determine the real impact of SEPA on your business.
    c. Based on the outcome of the impact analysis we can support you with implementation of the
    required changes to comply with SEPA legislation.

  4. Contact

    Are you interested in our support? Pleasecontact us open-ended.
    Read more about the SEPA impact analysis.