• What is SEPA?

    The SEPA (Single Euro Payment Area) is the area in which citizens, companies and other economic actors will be able to make and receive payments in euros in Europe, inside and outside state boundaries, under the same basic conditions and with the same rights and obligations, regardless of where they might be.

  • What countries does SEPA affect?

    • The 28 Member States of the EU: Austria, Belgium, Bulgaria, Cyprus, Croacia, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Rumania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom
    • Other countries: Iceland, Liechtenstein, Monaco, Norway and Switzerland

  • What is the end-date or date of migration to SEPA?

    February 1, 2014, is the end-date for the migration of transfers and debits in the SEPA counties whose currency is the euro. However, the migration end-date for countries who do not have the euro (e.g. the United Kingdom) is October 31, 2016.

  • Is it compulsory to use XML formats with SEPA?

    The end-date Regulations stipulate February 1, 2016, as the end-date, after which all users of payment instruments who are not micro-companies or consumers should send their files of transfers and debits in XML format.

  • In Spain, is it compulsory to use the IBAN instead of the CCC (Current Account Number)?

    The  IBAN is the sole identifier of accounts in the SEPA and its use is compulsory. Thus the IBAN will replace the CCC from February 1, 2014.

  • Is it possible to user converters from CCC to IBAN?

    Yes, Regulation 260 /2012 envisages the possibility of using conversion services, which financial entities can provide. At CaixaBank we have instruments available to help you obtain your IBAN.

  • Can I make a SEPA transfer to a country whose currency is not the Euro or that does not belong to the EU?

    Yes, this is possible when dealing with one of the 32 countries that form the SEPA (e.g. Norway, Poland, Switzerland, United Kingdom).

  • Is it compulsory to fill in the BIC field for a SEPA transaction?

    No, although the BIC is compulsory until February 2014 for intra-state operations and until February 2016 for cross-frontier ones, CaixaBank, in order to assist its customers in migration, no longer requires BIC information in files for transfers or direct debits, except when the target entity is located in a country which does not belong to the EEA* SEPA zone.

    *EEA( European Economic Association)

  • What is the mandate?

    The direct debit mandate or order is a private document between creditor and debtor, whereby the debtor authorises and gives consent to that the creditor may initiate receipt of payment from the account indicated and that the debtor bank complies with such orders. Therefore, the creditor must have formalised the mandate before issuing the debit payment order. In the SEPA, creditors must keep the original copy of the signed mandate, together with any possible changes, as long as it may be requested as the justification of the existence of authorisation for receiving payment (13 months).

  • Are old direct debiting orders valid or do new mandates have to be obtained to send SEPA payments?

    Direct debit orders that were in force and valid before migration to SEPA will continue to be valid for issuing CORE direct-debit payments. Therefore, there will be no need to obtain new consent. In Spain a series of migration rules have been drawn up in order to adapt the data of pre-existing direct-debit orders.
     
    The B2B payment is a new product with different characteristics. As such, the creditor will have to formalise a B2B mandate for all its debtors.

NRI 14997-2016-5555