Monday November 30, 2020

HR & Payroll: Winds of change in payroll

The new Single Euro Payments Area will have an impact on payroll software, writes Leslie Faughnan.

31st August, 2013
John Rice, SEPA programme manager in the Central Bank of Ireland.

Many businesses have already received letters from their banks to emphasise the importance of Single Euro Payments Area (Sepa) and in some cases giving deadlines for e-banking conformity with the new system, according to our payroll software and services interviewees.

Sepa certainly has some implications for any employer paying money directly into employee bank accounts by credit transfer. But they are straightforward.

In essence, each employee bank account will have a new banking address, replacing...

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