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Gegevens Betaling Buitenland Non SEPA Form

Gegevens Betaling Buitenland Non SEPA Form

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Instructions and help about Gegevens Betaling Buitenland non SEPA

Hello. I’m George from COREDO.EU. Today we will talk about Single Euro Payments Area: what is it? The abbreviation of SEPA means the Single Euro Payments Area. It was created by the European Union in order to harmonize the transfer process of cashless payments among euro countries. The Single Euro Payments Area architecture was designed as a convenient tool for European consumers, businesses, and government agents while making direct debit or credit payments. Besides, this system is governed by the European Commission. It was the year 1999 when the story of Single Euro Payments Area began. At that time the banking industry already considered a need of having a single payments area since it would lead to further integration of European Union economies. Yet only in 2007, the European Union passed the Payment Services Directive that offered the legal basis for Single Euro Payments Area. As the Single Euro Payments Area architecture was progressing, in 2011 it replaced national payments

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