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Q:

How do I make EUR payments SEPA-compliant?

A:

The introduction of the Single Euro Payments Area (SEPA) makes Euro payments easier and cheaper and enables you to move money as freely throughout Europe as you can within the UK.

 To make sure your Bankline Euro payments are SEPA-compliant:

  • set the priority of the payment to ‘Standard’
  • include the beneficiary’s international bank account number (IBAN)
  • set the charge to be shared, i.e. our charges to be paid by the remitter and foreign bank charges to be paid by the beneficiary
  • ensure ‘Intra-company transfer’ in the Payment details section is not checked 

N.B. Entering the beneficiary’s BIC is optional as in most cases we will be able to derive this from the IBAN you provide.

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