What is a SEPA credit Transfer is and what it is needed?
The SEPA credit Transfer already exists since 2008. From January 2014, will replace the well-known Euro-Bank Transfer is final.
- The SEPA credit Transfer standardizes the Form and procedure of the Transfers of all the countries of the European Union and the European economic area and Switzerland and Moncao.
- The advantage of this is that the System for all banks is the same, and Transfers thus, within one day can arrive. The transfer limit is currently 50,000 euros.
- Starting in 2014, Transfers within Germany, as well as within the EU must be by means of the IBAN and the BIC are carried out. These are the international Equivalent to the account number and sort code.
- As a private person, you can make Transfers until 2016, with the account number and sort code. From February 2016, should it be necessary, the IBAN must be stated. The BIC is then also unnecessary.
- SEPA credit Transfers can only be for amounts in Euro is settled. For other currencies you need to make a Bank transfer from abroad.
- Conclusion: With the SEPA credit Transfer will standardize the Referral System in the whole of Europe. This reduces the cost and Transfers to get faster at receiver. You get used, therefore, to the best of your IBAN and BIC. If you like, you can stay until 2016, but in the case of account number and Bank routing number.
SEPA credit Transfer
What to look for in credit Transfers in the EU and the Rest of the world need to pay attention to, you will learn in this practical tip.
