One single European payments market
Since 1 August 2014 we have switched to SEPA and IBAN. As a result we now have a single European payments market with standardized payment products. No longer there are separate rules for each country; instead the same standards apply to all countries. This makes payment transactions in the SEPA countries a lot easier.
SEPA (Single Euro Payments Area) is a result of European legislation. Since 1 August 2014, all companies must have completed the switch to SEPA.
What is SEPA?
Businesses and consumers now use the International Bank Account Number (IBAN).
The SEPA standards apply to both credit transfers and direct debits, including payments within the Netherlands.
You are now able to pay invoices and direct debit accounts in the SEPA countries from a single account.
A uniform payments market is conductive to competition, which can in turn result in better products, greater efficiency and lower costs.
What is IBAN?
International Bank Account Numbers (IBANs) are the international bank account numbers assigned to you and your customers. You must use IBAN for every payment transaction. You can find your IBAN on your account statement and via Internet Banking.
SEPA transfers can be made to the following participating banks (PDF's in Dutch). This list also provides the BIC code of all banks that are ready for SEPA transactions.