Is the UK a SEPA country? (Has the UK left SEPA?)

02 Mar 2022 By PAYCEC

SEPA allows businesses to conduct euro transfers to participating countries via direct debits and direct credits via a single bank account and a standardized set of regulations.

Despite the fact that the United Kingdom has exited the European Union as a result of Brexit, it is still a member of the Single Euro Payments Area (SEPA).

In principle, little has changed in terms of how businesses utilize SEPA, however, there are a few extra details which are now necessary to make SEPA payments from the UK to the EU and vice versa.

As a result of the Brexit changes, the SEPA payment instruction from the corporate's bank must now contain the postal address of the creditor bank.

For credit payments (SCT and SEPA Instant Credit Transfer), the originator's full address and the Beneficiary Bank's BIC code must be included.

The entire address details of the respondent, as well as the BIC code of the Depositor Bank, are required for Direct Debit (SDD Core and B2B) collections from the creditor.

Have other questions?

If you need further assistance or answer, please don't hesitate to contact us.

Have other questions?

The Media

Finextra One IBC Yahoo Finance
About us

who we are

about us

We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.

Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.

PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.

We will contact you shortly.

Email Phone
Scroll top