Articles
• Introduction
• What is IBAN?
• Structure of the IBAN
• IBAN Generation
• IBAN Verification
• Modulus Checking
• UK IBAN Examples
• IBAN and BIC
• ECBS
• Who needs the IBAN?
• Benefits of IBAN
• Money to Right Place

SEPA

• What is SEPA?
• SEPA Credit Transfer
• SEPA Direct Debit

Tools

• Validate IBAN
• Generate IBAN
• Sort Code Checker
• Search BIC

What is SEPA?

SEPA will standardize euro electronic payments across European countries. Together, there exist 34 countries in the SEPA location. These are generally the present 28 EU member states of the European Union, along with Iceland, Lichtenstein, Monaco, Norway, San Marino and Switzerland.

The 28 nations of the European Union are: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovenia, Slovakia, Spain, Sweden and the United Kingdom.

Map of Europe – Countries encompassed in the SEPA Initiative

SEPA came into full effect on 1st February 2014, transforming the way euro electronic payments are processed across Europe. It imply that you possibly can make and receive payments seamlessly, collect a direct debit on any specific euro bank account or even make a credit transfer to any specific euro bank account within SEPA.

What are the basic improvements that SEPA brings?

- From 1st February 2014, existing national payment schemes were shut down; following which euro electronic payments will be processed via new SEPA schemes.

- National sort codes and bank account numbers will be changed by an International Bank Account Number (IBAN) and a Business Identifier Code (BIC).



* Reference from European Payments Council