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.