ORDINASOFT Computing Sant Cugat del Vallés Barcelona


SEPA - Mandatory from 1 / Feb / 2014

What is SEPA?

On 1 February 2014 the active binding SEPA, a European strategy to unify and ensure secure payments in euros for all banking transactions within and between countries that comprise the European Union. The current national systems and transfer charges (AEB-CSB regulations or Banking Journal) systems will be replaced by the new European SEPA regulations. We recommend you review your information systems in their adaptation to SEPA. You can start doing so by means of diagnosis SEPA, whether you're still a user of Sage solutions or not, us how we can help you meet your company or business to this new regulation an easy and comfortable for you.

SEPA = Single Area Payment
Subsequent notebooks bank CSB ​​19 CSB 34 transfers and cards. Does not apply to checks, promissory notes or bills of exchange. The deadline is February 1, 2014. It affects 33 countries (the 28 EU members plus Iceland, Liechtenstein, Monaco, Norway and Switzerland. In Spain, the CCC (Customer Account Code 20 characters) becomes IBAN (24 characters ). as of 1 February 2014 IBAN will be the only valid ID to make payments and national payments and Cross Border (SEPA). also, the BIC (11 characters) identifies the associated bank account. the 'CSB 58 (advance credits) and CSB 32 (commercial bills) can still be used until 1 February 2016.
The files have an XML format instead of TXT. Spain will be compulsory from 1 February 2016, although it is advisable to do so now. Features of the mandate or mandate: It is a private agreement between the creditor and the debtor. Handwritten signature of the account holder position. Valid on the date of receipt. The issuer must keep the mandate together with its amendments or its cancellation. The financial institutions involved in the signing of this document.
The areas affected are the company Accounting, Treasury, billing, human resources, sales, customer service and information technology. You must update the numbers of bank accounts of customers, suppliers and employees. Pick up orders or direct debit mandate and preserve them. Planning the necessary changes in the processes and systems of the company. Check prior to 1 febredo 2014 validations necessary for banks to check that everything is working properly.

SEPA benefits your company

Simplifying procedures

Possibility of using a single bank account for bank transactions in euros in the SEPA.
Disappear barriers and bureaucracy to make payments in SEPA and internationally.
International transfers does not differ from national.

Secure your transactions
Your current account number 20 digits evolves IBAN, which has 34 digits, formed from the CCC also identifying the country of origin and two digits.

Examples: Current CCC code: 2100 0813 61 0123456789
Mail Spain IBAN: ES79 2100 0813 6101 2345 6789 2004 1010 0505 or France FR14 606 0001 3M02
IBAN printed on bills: IBAN ES79 2100 0813 6101 2345 6789 IBAN FR14 2004 1010 or 0505 606 0001 3M02

All transactions take more or identification code BIC international bank.
The new EMV chip credit and debit cards, personal use of the PIN instead of signing.
New rules for European standards and the creation of electronic payment terms to replace the national enabling efficiency improvements in the process of execution of payments and result in greater competition.
Increased monitoring of electronic money.

Cost reduction
Reducing administrative costs, costs of electronic money and payment transactions to optimize the payment processes. Especially in international commercial activities.
Promotes the possibility of renegotiating bank fees
Reduction of cash and increase electronic money.

Security in your business
New types of positions that allow to shorten the time of payment deadlines.
Preventing the return of the amount of debt and ensures the payment thereof.
Modifies the presentation time of the mandates to be more competitive.

Type of SEPA instruments SEPA transfer

(Business to Business / independent or private)

For operations in euros.
In one day maximum (the next working date of issue) the beneficiary will receive the amount of the transfer.
Use for both domestic transfers with the countries of the European Economic Area participating in SEPA.
Equal conditions and rates for domestic and cross-border transactions in the European Economic Area, irrespective of the amount of the transaction.
Each bank will charge the cost to their customers according to the conditions.
The IBAN as the beneficiary account identifier.
BIC identifies the financial institution of the beneficiary.
It requires a specific format (ISO 20022 XML format) for the transmission of orders on file at the bank.

SEPA Core Direct Debit or basic

(Company-company and / or self-company and / or business-owner)

(Until now been referred to the view (format CSB 19)

For operations exclusively in euros.
Required to state the IBAN and BIC
As far before issuing an order must exist / debtor mandate for direct debit payments.
Orders or direct debit mandates existing remain equally valid to issue this type of direct debit CORE (for nationally).
It is compulsory to keep the mandates and all modifications or cancellations can demand while justifying the existence of authorization for payment.
Receipts will be presented with an advance of 7 days (for first or only operations) and 4 days (for recurring transactions or last). Repayment period: up to 8 weeks for customer order debtor. 13 months for unauthorized payments (for customer order).
It is possible to refuse a refund within this period by providing a copy of the current mandate.

SEPA B2B Direct Debit

(Business to Business or Business to Independent)

Important: In this mode the repayment of unpaid debts is reduced to just two days, which improves business risk and default management, while reducing the risk of default.
Requirements for issuing B2B direct debit: The operations must be expressed in euros.
Issuer and debtor should be legal entities (companies or self-employed).
Before issuing an order must be formalized / debit mandate between issuer and debtor.
This Order shall specify the acceptance of B2B transactions and waiver of this right to the refund.
It is compulsory to keep the mandates and all modifications or cancellations can demand while justifying the existence of authorization for payment.
It needs a new file format: XML SEPA B2B or 19:44
The IBAN becomes standardized code of the account debtor and the BIC on the bank of the debtor.
Flows will be presented with an advance of three days.
Prior to the charge, the bank will request the authorization given.