The EACT have been finalizing the negotiations with the European Payments Council on the population of the 140 characters for remittance advice. Please click here to download the PDF 'Remittance Information for Reconciliation in SEPA' and click here to download the 'Annex' PDF that accompanies the 'Remittance Information for Reconciliation in SEPA' document.

On SEPA Direct Debits the EPC has finally committed to add an option in the existing Rulebooks to enable a mandate check before the first transaction goes through. How precisely this will work will be known in the weeks to come and we will keep you posted. The Associations represented in the End Users Committee of Payments Systems (apart from the BEUC, the European consumer’s organization) are now ready to kick start the process of discussing with the European Commission, the European Central bank and the EPC about the phasing out of the legacy systems.