All about SEPA
An overview of SEPA
The Single Euro Payments Area, or SEPA, is an initiative to integrate standardized payments in euros within Europe, for both credit transfers and direct debits.
WHICH COUNTRIES ARE INCLUDED IN SEPA?
SEPA encompasses 34 European countries within which euro-denominated transfers and direct debits are processed under the same basic conditions, rights and obligations.
HOW DOES SEPA AFFECT YOUR CREDIT TRANSFERS?
To make a SEPA credit transfer, you no longer need the beneficiary's full bank account details, but simply their International Bank Account Number (IBAN) and Business Identifier Code (BIC)(1). Your IBAN and BIC can be found on your bank statements or bank account details document.
There is nothing you need to do for beneficiaries that you have already saved, as their banking details are updated automatically.
You can easily make individual or favorite transfers, or set up standing orders(2) between two accounts within SEPA by logging into your secure customer account at mabanque.bnpparibas.
(1) Use of the BIC number has been optional for transactions within France since 2014-02-01 and will be for cross-border transactions starting on 2016-02-01.
CONSULT THE VIDEO TO LEARN HOW TO MAKE A TRANSFER (IN FRENCH)
HOW DOES SEPA AFFECT YOUR DIRECT DEBITS?
WHAT CHANGES FOR YOU:
Creditors must provide you with the following information:
If you are the victim of a non-authorized direct debit, you can always contest the payment.
(1) The authorization that you signed in France for direct debiting is valid for SEPA direct debits, in accordance with Article 19 of Order 2009-866 from 2009-07-15, relative to the continuity of direct debit authorizations.
HOW DOES SEPA AFFECT YOUR CARD PAYMENTS?
Under the SEPA initiative, individuals and businesses can securely pay for their purchases or withdraw cash with a debit or credit card, under the same basic conditions, rights and obligations.
Cards issued by BNP Paribas conform to SEPA standards, allowing payments to be made with the use of a PIN code in the 34 countries part of SEPA.
LEARN MORE ABOUT SEPA
View our online brochure to find out all the details about SEPA.