« Things worth reading: 1st May 2013 | Main | Things worth reading: 2nd May 2013 »

May 01, 2013


Feed You can follow this conversation by subscribing to the comment feed for this post.

Robert Macho

Seems 90% of the SEPA-Enddate issues are related to implementation of SDD - a "product" which was discussed, well known and do exist for the last 3-4 years. Surprise.
But - what have actually to be done: a new contract between creditor and bank, procure a Creditor-ID from the Bank, give existing (!) debtor-mandates (which stay legally valid) a series-number.... voilà.

No mandate from the debtor: means you are possibly illegal today
Large risks between countries: pls show me huge cross-border volumes on SDDs first
No plan B: there was none for the Euro-introduction neither.
No benefit: makes no sense to discuss this point which could fills books anyway. But eventually it's a political decision and - think holistic - should foster the whole European economy ;-)

So what - please stop howling and croaking - simply talk to your customers/to your banks, there are an endless number of informations-sheets and guidelines published... just do it - we'll make it...!!!

NB: Dear bank-customer: your bank is not SEPA-ready ? Time enough to change the bank....

Luka Milisa

Great summary, Robert!

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)

Twitter FSClub

    follow me on Twitter

    Your email address:

    Powered by FeedBlitz

    Search blog

    Amazon Digital Bank

    Financial Brand Editor's Choice

    Alex: The Finanser BlogAlex at the Financial Services Club
    Gaping Void: The Finanser BlogGaping Void's Hugh MacLeod worked with the Finanser
    Wordle: The Finanser Blog

    The Financial Brand


    Payments News - from Glenbrook Partners

    Payments RSS

    Tomorrow's Transactions blog