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The changes resulting from the implementation of Regulation (EU) 260/2012 for individuals are the following:

  • As of 1.2.2016, the mandatory use of the Bank Identification Code (BIC) is cancelled.
  • Exclusive mandatory use-inclusion of the IBAN (International Bank Account Number)
  • The Remittance Info field allows for a maximum length of 140 characters.

The above apply to direct debits (SEPA DIRECT DEBITS) and credit transfers (SEPA CREDIT TRANSFERS) within the European Union, i.e. to:

  • Outgoing credit transfers from Branches, the Alternative Networks (Electronic Banking) and other channels of payments.
  • Incoming credit transfers
  • Payment orders to third parties

You may contact the Branch/ Unit with which you hold your accounts for any clarifications.

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