Companies not prepared for new EU payment rules

Thousands of consumers could face difficulties with payments such as direct debits and salary payments if Irish businesses fail to prepare for an impending EU rule change.

27th April, 2013
The Central Bank: fresh warning.

Thousands of consumers could face difficulties with payments such as direct debits and salary payments if Irish businesses fail to prepare for an impending EU rule change, according to a Central Bank warning.

The Single Euro Payments Area (Sepa), an EU initiative to overhaul how euro-denominated electronic payments are processed across Europe, will come into effect on February 1 next. Payments between 32 countries - the 27 member states of the European Union, and Iceland,...

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