Sentenial news
SEPA End Date Published 1st February 2014
The European Parliament has announced they will be voting on the SEPA Regulation in February 2012.
The proposed deadline for changeover to the new system for both SEPA Credit Transfers (SCT) and SEPA Direct Debits (SDD) is 1st February 2014.
In the Member States not using the Euro as their currency, the deadline is 30 October 2016.
For some time now there has been doubt in the market as whether an end date will be set for the introduction of SEPA Credit Transfers (SCT) and SEPA Direct Debits (SDD). This announcement has firmly removed any uncertainty.
The major outcome of the agreement is the setting of a single end date for both SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) which will be the 1st of February 2014.
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