The Sepa Poll - Are you happy or 'not bothered'?

Hi,

I did your poll, but since I don't work for a Bank or a Regulatory body, it seemed to be completely irrelevant to me. 

For me, I like the concept of SEPA, and your blog made me check on the actual status at least, but it seems like its stuck in treacle?  Often happens in the finance industry because everyone is so nervous about their skin in the game and cut.

For me, I just want to know if 'my chosen bank' or payment processor can offer cross border payments facilities, and to what extent (if any) will I be covered for any due taxation, auditing, laundering etc.  Does SEPA legislate for these things. Basically, if I receive a SEPA payment, can I actually trust it is real and will I be liable to any additional fees.

When I say 'I', I mean a company or service I might be working for that needs SEPA payments.  I can't remember the last time I personally had to do a cross border e-payment, and I assume my Bank can handle it today (with charges) anyway - so SEPA adds little change or functionality to me personally.

"...so SEPA adds little change or functionality to me personally."

I think you've hit the nail on the head there. Why would banks pile resources into Sepa, if does little to improve the services to you, the client.

Therefore, the only incentive banks seem to have is a mandate from their central bank - and the central banks are just shrugging.

Is Sepa a political exercise or a payments innovation exercise?