IBERBANCO’s Post

Listen to Fiona Turnbull and learn more about SEPA.

What is SEPA payments.? The SEPA (Single Euro Payments Area) is a network that spans the European continent. It allows businesses to send and receive payments in euros with bank accounts within the eurozone. SEPA is designed to make sending money between European countries as easy as making bank transfers within the same country. Most of the European countries are covered under SEPA…

Streamlining International Transfers: How SEPA Revolutionized Cross-Border Payments The speed and reliability of cross-border transactions play a pivotal role in the choices customers make when selecting financial institutions. Ensuring seamless and secure international transfers has become a top priority for banks worldwide. Read more - https://lnkd.in/dx637FQX

International payments are key for any global business. SEPA and SWIFT are both trusted systems, but knowing their differences is key before choosing how to transfer funds. Would like to learn more? Visit the our blog at omg.one/blog for a breakdown of SEPA vs. SWIFT.

Here are the key things to remember about SEPA (Single Euro Payments Area): - SEPA transactions are done in euros. - SEPA includes 35 countries, including the 28 EU member states, Iceland, Liechtenstein, Norway, Switzerland, and Monaco. - SEPA standardizes credit transfers, direct debits, and card payments. - SEPA uses IBAN (International Bank Account Number) and BIC (Bank Identifier Code) for account identification. - SEPA uses ISO 20022 messaging standard for payment messages. - All SEPA banks must be reachable for credit transfers and direct debits. - SEPA allows for same-day settlement for credit transfers. - SEPA eliminates borders for euro payments within the region. - SEPA standardizes fees for payment services. - Banks and payment service providers must comply with SEPA regulations and standards. Understanding these key points will provide insight into the fundamentals of SEPA and its influence on euro payments in the region. #SEPA #ISO20022 #PAYMENTS

I recently wrote an article regarding SEPA Instant Payments (SCT Inst) focusing on the key challenges for EEA Banks & Payment Service Providers. Within the article I detail the provisions within the change in legislation, the Regulators expectations, and solutions to the potential problems the changes bring to EEA registered payment businesses. (Link in comments!)

In our new briefing, we have summarised the practical impact of the new #CRD6 rules on cross-border banking business. Please let me know if you would like to discuss this! 📃 The new #EU Capital Requirements Directive will require non-EU entities intending to provide ‘core banking services’ in an EU Member State to establish an authorised local branch in that Member State unless one of the limited exemptions applies. A new Article 21c of the Capital Requirements Directive (#CRD) will restrict the cross-border provision of loans or credit and guarantees or commitments by non-EU banks and the taking of deposits or other borrowing in the EU by any non-EU entity. The new rules are expected to take effect by end-2026. Read the full publication 👇

Curious about SEPA and how it simplifies euro transfers across Europe? SEPA covers 36 countries, streamlining payments while boosting speed and cost efficiency. Whether you’re transferring funds within the EU or to countries like the UK, Switzerland, or Iceland, SEPA makes it easy and fee-free 💶✨ Want to learn more about SEPA and how it benefits your transactions? Check out our latest blog post and FAQs for all the details.

📃 The new #EU Capital Requirements Directive (#CRD6) will require non-EU entities intending to provide ‘core banking services’ in an EU Member State to establish an authorised local branch in that Member State unless one of the limited exemptions applies. A new Article 21c of the Capital Requirements Directive (#CRD) will restrict the cross-border provision of loans or credit and guarantees or commitments by non-EU banks and the taking of deposits or other borrowing in the EU by any non-EU entity. The new rules are expected to take effect by end-2026. Read the full publication 👇

📃 The new #EU Capital Requirements Directive (#CRD6) will require non-EU entities intending to provide ‘core banking services’ in an EU Member State to establish an authorised local branch in that Member State unless one of the limited exemptions applies. A new Article 21c of the Capital Requirements Directive (#CRD) will restrict the cross-border provision of loans or credit and guarantees or commitments by non-EU banks and the taking of deposits or other borrowing in the EU by any non-EU entity. The new rules are expected to take effect by end-2026. Read the full publication 👇