Did you know that the BIC becomes an optional item in SEPA XML files from February 2016?

Individuals and organisations will not be obliged to provide their BIC when providing their Bank Account details – only their IBAN will be required. What impact could this have for you?

Your SEPA XML files must be able to handle situations where some Debtors do and some don’t provide their BIC details in Direct Debit Files. And similarly where some Creditors / Employees do and some don’t provide their BIC details for your Credit Transfer files. You will need to upgrade your existing SEPA software to support this change.

DEFT from Ardbrook, our fully featured SEPA software, handles all the situations you may encounter and all situations required under the SEPA Scheme.

Contact  sepa@ardbrook.ie  to learn more or to arrange a discussion.