With the implementation of the SEPA Migration End-Date Regulation, national payment schemes have been replaced with a European-wide payment system. The most significant change for business customers is the use of the IBAN and BIC when making or receiving euro payments, whether national or cross-border within the SEPA region; together with the use of a new file format for those organisations who submit payment instructions to the bank, in bundled format.
Making a SEPA PaymentReceiving a SEPA Payment