Sage Critical Update Issue

SEPA lead-in extended

The European Commission announced on January 9th that it has extended the lead-in period for the introduction of the Single Euro Payments Area (SEPA) for a further six months to ensure minimal disruption for consumers and businesses.

As of now, migration rates for credit transfers and direct debits are not high enough to ensure a smooth transition to SEPA despite the important work already carried out by all involved. Therefore, the Commission is proposing an additional transition period of 6 months for those payment services users who are yet to migrate. In practice this means the deadline for migration remains 1st February but payments that differ from a SEPA format could continue to be accepted until 1st August 2014. The transition period will not be extended after August.

Please contact us at  if you need to produce SEPA compliant files.