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Portable IBANs how to extract even more benefits from SEPA?

By Ian Dunning, M.D., CB.Net Ltd

Background
The Single European Payment Area (SEPA) has been designed to improve cross-border credit transfer services and notably their efficiency and cost to the customer. The aim is to enable consumers and small and medium-sized enterprises to make credit transfers rapidly, reliably and cheaply from one part of the euro area to another - in fact to remove the current differentiation between domestic and cross border payments.

However as has been highlighted by the paper "Realising SEPA Benefits", a white paper published by the TWIST Innovations Centre in May this year, there are concerns raised by corporates as to whether SEPA, as currently structured, provides the required benefits - in particular that corporates should be able to implement SEPA as well as change payment services providers with minimum cost to themselves or their counterparties.

Download the full white paper