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SEPA

The SEPA project represents the next major step towards closer European integration. SEPA will allow customers to make non-cash euro payments to any beneficiary located anywhere in the euro area using a single bank account and a single set of payment instruments. All retail payments in euro will thereby become “domestic”, and there will no longer be any differentiation between national and cross-border payments within the euro area. (SINGLE EURO PAYMENTS AREA – SEPA Brochure, European Central Bank – Eurosystem).

 
              By Data Solutions