SEPA: AIB preparing its business customers to be Sepa-ready
Bank highlights need to make sure that direct debit software providers have upgraded their systems to be Sepa-compliant.
The Single Euro Payments Area (Sepa) deadline is February 1, 2014 and will result in banks and customers standardising the way that they make euro electronic payments across the European Union. Sepa will impact companies that process payments electronically. This includes staff payroll, payments to suppliers and collecting money from customers by Direct Debit.
According to Peter Vance, head of payments, AIB, the bank has been facilitating migration of customers onto the Sepa platform since last April....
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