As you are aware SEPA transition is under way and Jefferson are well into the stage one to convert all the current bank formats to the BIC & IBAN format. All Jefferson clients will have already been contacted by our SEPA team in relation to the upcoming conversion process and ongoing communication will continue throughout.
Certain restrictions will now apply on bank details format from July 1st 2013 and a new file and instructions will have been be sent to you which you should read carefully.
SEPA stands for Single Euro Payments Area and by Feb 1st 2014, companies must use the SEPA file format to make bulk payments (currently EFT). There are also implications for Direct Debits and the banks are working with other financial institutions to ensure a smooth transition.
Jefferson are also working with the banks to ensure any payment processing requirements are met, i.e., the new SEPA format and new banking software ares tested and working well ahead of the deadline next year.
For more on SEPA visit www.readyforsepa.ie
Jefferson clients can contact their administrators at any time if they have any questions or concerns surrounding the SEPA transition.
Alternatively email the Jefferson SEPA team – sepa [at] jefferson {[dot] ie
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All the best,
The Team at Jefferson
All the best,
The Team at Jefferson
