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Cash management solutions

SEPA Payments

The Barclays range of SEPA payment and direct debit services enable you to take full advantage of the Single Europe Payments Area – allowing you to streamline, centralise and simplify your European cross-border payments and collections.

Solutions for your business
 
  • Exchange euro payments and collections between any accounts in the Single Europe Payments Area (SEPA) as easily as between domestic accounts
  • Benefit from improved efficiency and competition in the payments market
  • Help to centralise your accounts and payment flows using standardised rather than country by country formats
  • SEPA Direct SEPA Direct

    Transition smoothly into the SEPA Direct Debit market with our fully managed, end-to-end service.

    Is it right for you?

    • Eases the transition process if you have a large number of mandates spread across a variety of banking systems or you are looking to collect funds from debtors across the SEPA area using direct debits
    • Provides a seamless solution to the challenges corporates face when starting euro direct debit collections
    • Addresses everything from the initial mandate and file creation to ongoing document and transaction management, with minimum disruption to your existing processes
    • Simplifies the whole process – whether you are starting out in the SEPA Direct Debit market or consolidating to one central SEPA bank account.

    Key features and benefits

    • Matches collections to SEPA-compliant mandate information
    • Allows upload of bulk files in ISO 20022 XML format or delivery of information in CSV format to be enriched
    • Uniform International Organization for Standardization (ISO) return codes for all SEPA countries – plus ISO transaction codes to identify purpose of collections
    • Enables daily management of SEPA mandate information and a variety of reports to facilitate reconciliation
  • SEPA Credit Transfers SEPA Credit Transfers

    SEPA Credit Transfers (SCT) offer customers the ability to send Euro payments that will reach beneficiaries’ accounts, within the SEPA area, the next working day. Euro payments within a SEPA country or between two SEPA countries can both be made as SEPA Credit Transfers, creating easy and secure cross-border transactions.

    Is it right for you?

    • Scope: payments in EUROs within the SEPA area. There is no cap on the amount of funds that can be transferred under the scheme
    • Single and bulk payments are supported
    • Easy identification of a payment through specific data fields that clearly indicate payment types (e.g. salaries, taxes)

    Key features and benefits

    • SCT use International Bank Account Numbers (IBAN’s) instead of local domestic account numbers
    • Bank Identifier Codes (BIC) are now optional for both SEPA domestic and cross-border payments unless a non-EEA country is involved in the transaction
    • Files of SEPA transactions use ISO 20022 XML formats allowing you to include specific data fields to specify payment types, such as salaries or taxes.
  • SEPA Direct Debit SEPA Direct Debit

    SEPA Direct Debit allow a creditor in a SEPA country to collect direct debits from customers in that country or any other SEPA country1.

    Is it right for you?

    • A pan-European Euro Direct Debit service
    • Only one bank account needed for all European Direct Debit collections
    • Cycle times consistent across all the SEPA countries
    • The two main schemes are SEPA Core Direct Debit and SEPA Business to Business Direct Debit

    Key features and benefits

    • Streamlines your operations by providing a common set of rules and one message format for domestic and cross-border direct debit transactions within the Eurozone countries
    • Enables you to originate direct debit collections from Barclays locations in France, Germany, Italy, Portugal and Ireland to debit your debtors in any of the SEPA countries
    • Strengthens cash forecasting, enabling you to accurately predict the date of collections from your customers
    • Shortens the time needed for reconciliation and investigations
    • Helps improve access to European markets by removing barriers to collections from across the EU
    • Provides you with the opportunity to reduce and consolidate bank accounts
Swift GPI for cross border payments
Insight

Swift GPI for Cross-border Payments

Barclays speaks to Ryan McAuliffe from SWIFT about how SWIFT global payment innovation (gpi) is transforming the cross-border payments industry.

What can SEPA payments do for you?

Barclays SEPA Direct

An end-to-end managed online system to optimise the collection of pan-European and in-country euro Direct Debits and SEPA payments.

SEPA Direct Debits

A pan-European euro Direct Debit service enabling collections from, and payments by, SEPA Direct Debit to any country in SEPA.

SEPA Credit Transfers

Provides the ability to send non-urgent euro payments to any country within SEPA.

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Get in touch

To discuss your business requirements and how Barclays can support you, contact us today.