SEPA Awareness Seminar - Ulster Bank

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Background to SEPA• Payment Services Directive (PSD)– EU/EEA – wide legal framework– EU approved: April 2007 & Transposed to Irish law: September2009– Strong on consumer rights and opening up competition inpayments• Regulation 260/2012– Approved by the EU Parliament on February 14 th , 2012 andpublished (came into effect) March 30 th , 2012–Set February 1 st , 2014 as ‘end date’ for SEPA implementation– ‘End’ = closure of IRECC (Irish Retail Electronic PaymentsClearing Company)Slide 6
Key Changes• BIC and IBAN– BIC: Bank Identifier Code– IBAN: International Bank Account Number– NSC and 8-digit account number to be replaced as identifier e.g.98 50 10 and 12345 678 becomes ULSBIE2D andIE12ULSB98501012345678• ISO 20022 XML– Legacy file formats to be replaced– New international standard• SEPA Schemes -Private schemes, for electronic payments in €– SEPA Credit Transfers (SCT) – January 2008– SEPA Direct Debits (SDD) – November 2009Slide 7
Page 1 and 2: SEPA Awareness SeminarQuarter 1, 20
Page 3 and 4: SEPA AwarenessBackground to SEPA
Page 5: Background to SEPAPolitical Drivers
Page 9 and 10: SEPA Credit TransfersBIC and IBAN r
Page 11 and 12: SEPA Direct DebitsIncoming Direct D
Page 13 and 14: XMLWhat is XML?• Stands for eXten
Page 15 and 16: SEPA AwarenessSEPA Project Approach
Page 17 and 18: Thank You?QuestionsFor more informa

SEPA Awareness Seminar - Ulster Bank

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