Memo: Single Euro Payments Area (SEPA) – frequently asked questions / Single Euro Payments Area fully operational in eurozone countries from 1 August 2014

On 31 July 2014 the European Commission published a memo containing answers to frequently asked questions on the Single Euro Payments Area (SEPA).

The Single European Payments Area became fully operational in all eurozone countries on the 1 August 2014 after a six months extension period. The SEPA system is said to harmonize payment methods within the EU. It is also supposed to reduce delays in cross border bank transactions.

• Primary Source

ESO: Background information: Deadline for SEPA payments extended to 1 August http://www.europeansources.info/record/press-release-deadline-for-sepa-payments-extended-to-1-august/

ESO: Background information: Commissioner Barnier welcomes the European Parliament vote on an additional transition period of 6 months during which non SEPA payments can still be accepted in the Eurozone http://www.europeansources.info/record/memo-commissioner-barnier-welcomes-the-european-parliament-vote-on-an-additional-transition-period-of-6-months-during-which-non-sepa-payments-can-still-be-accepted-in-the-eurozone/

European Commission: RAPID: STATEMENT/14/246: Vice-President Michel Barnier welcomes major milestone for the internal payments market with the migration to SEPA (Single Euro Payments Area) http://europa.eu/rapid/press-release_STATEMENT-14-246_en.pdf

EurAvtic, 31.07.14: End in sight for Single Euro Payment Area http://www.euractiv.com/sections/euro-finance/end-sight-single-euro-payment-area-303837

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