Progress continues on EU single payment area

Implementation outlook

Frankfurt – The European Central Bank (ECB) is continuing its push for the creation of a single euro payments area (SEPA), and the private sector is working hard to keep up with the pace of change.

In late June, the ECB issued a new progress report on SEPA, which pointed out that from July 1, all charges that apply to credit transfers will have to be the same, whether the transfer is national or cross-border. This follows on from the institutionalisation a year ago of the same-charge principl