SEPA Migration Checklist



Dear client


With 52 weeks to go until Single Euro Payments Area (SEPA) standards become mandatory, all organizations with Euro ACH payment and direct debits, within the 17 Euro member states, need to ensure full compliance before 1 February 2014. 


The mandatory date is fast-approaching and it is now critical to ensure that your organization is prepared and will fully migrate to the SEPA schemes in advance of the mandatory deadlines.  Indeed, with year-end change restrictions taken into account, Citi recommends organizations to be fully compliant by November 2013.


The Citi Countdown Series will run until February 2014 and will provide you with SEPA information, key considerations and practical guidance.


Are the following actions part of your organization’s SEPA migration checklist?


•           Discuss SEPA with Citi, who has a team of migration specialists ready to support you

•           Assess your Euro ACH and direct debit flows

•           Assess your account usage

•           Decide your migration strategy: re-engineer or migrate under existing set-up

•           Decide on a direct debit scheme: Core or B2B

•           Decide on a direct debit mandate management approach

•           Form a SEPA project team and ensure communication strategy for key stakeholders

•           Align SEPA with other projects and ensure budget approval

•           Ensure alignment with ERP/technology rollout strategy

•           Ensure BIC/IBAN readiness and ongoing collection of information

•           Ensure system readiness

•           Be aware of current country SEPA status

•           Implement and test in phases

•           Be aware of niche scheme announcement (Feb 2013)


SEPA has the ability to deliver real value to your organization. Citi is committed to delivering solutions that enable you to capitalize on the benefits that SEPA offers and has already worked with large numbers of clients to migrate to SEPA.  To put our expertise to work for you today, please contact your Citi representative.




Citi Transaction Services           



Citi Transaction Services

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