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SEPA

10 October 2006 Be the first to comment

Retired member

Jet lag has started to kick in! Or perhaps its the number of SEPA sessions I have attend today where the same problems are being reiterated.

The encouraging signs are that at least some banks have started their preparations (although only 12% of banks have allocated resources for 2007 activties) and the large banks will be ready to join the SEIFT SEPA testing wokr next year. What about everyone else? And it is clear that even when you are a non EU bank, if you hold accounts in Europe you will have to comply with the Payment Services Directive and will want to make SEPA payments.

Another encouraging sign is the involvement of corporates. It was good to see Gianfranco Tabasso and Vincent Herlicq, But as they say corporates will take longer to migrate to SEPA - perhaps 6 years. I suspect many will take longer.

Just off to learn more about the low value payments world. Will there be any new messages?

Then I can relax with a nice boat trip. And perhaps an early night?

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