SEPA background

One single European payments market

Since1August 2014 we have switched to SEPA and IBAN. As a resultwe 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 transactionsin the SEPAcountries 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 consumersnow use the International Bank Account Number (IBAN).

  • The SEPA standards apply to both credit transfers and direct debits, including payments within the Netherlands.

The advantages

  • You are now able to pay invoices and direct debit accounts in the SEPAcountries from a single account.

  • Auniform 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.

Participating banks

SEPA transfers can be made to the following participating banks (PDF's in Dutch). This list also provides theBIC code of all banks that are readyfor SEPA transactions.