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The European Union is transitioning to SEPA, which means a uniform payment structure for residents and organisations within the European Union. SEPA has several advantages for your business including an easier way of trading cross border within the EU.


What is going to change?

As of February 1st 2014 your bank statement will show the required SEPA information. Find below the upcoming changes:

• If you make use of EMS Reports your transaction details are shown online. On your bank statement the reference will include a transaction slip number (TRX SLIPNR). This is a unique number allocated to a batch which is generally paid out on a daily basis. This transaction slip number matches with the statement in EMS Reports.
• All payment details will be in English as of the 1st of February 2014.
• Do you receive other currencies than Euro? Then the payment details will stay the same.


What does the new statement look like?

Please see below an example of the new description that you will receive as of the 1st of February 2014:



Payment information

Due to the extra information required your payment information shown on your bank statement will change slightly.
MID 455612345678 BRAND MASTERCARD
POSTING DD 11022014 TOT TRX 234524
GROSS 123456.50 CHARGES 5612.50
TRX SLIPNR 12345678901 VAT 0000.00

Your transactions will continue to be paid out on the agreed payment delay. If you are planning to change, or if you have recently changed your bank account, please inform us by sending us the ‘bank change form’ from our website to avoid any unnecessary issues.

Tip

If you use financial administration software, please check with your software supplier to ensure your system is ready to process SEPA transactions.

Any question.

Do you have a question? Please visit the Frequently Asked Questions section.

 
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