Press Release: Single Euro Payments Area (SEPA): cross-border direct debits now a reality

From 2 November 2009, banks will start to offer customers the possibility to make regular payments using the new SEPA Direct Debit scheme. This means that, for the first time, consumers and businesses will be able to make direct debit transactions between different countries in the euro area. Supporting the industry-led scheme are new EU rules on payment services and cross-border payments, in force as of 1 November, which are designed to ensure that SEPA Direct Debits will be as easy, efficient and secure as national schemes without being more expensive. Thousands of euro area banks have already signed up for the new scheme.

EurActiv, 26.1.10: EU direct debit rules open to fraud, says consumer group http://www.euractiv.com/payments/eu-direct-debit-rules-open-fraud-news-223371

ESO: Background information: Europe's winding road towards a payment revolution http://www.europeansources.info/record/europes-winding-road-towards-a-payment-revolution/

ESO: Background information: Website: Single euro payments area (SEPA) http://www.europeansources.info/record/website-single-euro-payments-area-sepa/

European Commission: MEMO/09/489: SEPA Direct Debit Launch – Frequently Asked Questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/09/489&format=HTML&aged=0&language=EN&guiLanguage=en

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