Regulation (EU) No 260/2012 establishes 1 February 2014 as the official end date for migration to SEPA of the euro area countries and 31 October 2016 for the other EU Member States. From these DATES on, all legacy CREDIT transfers and national direct debits in euro will be REPLACED by SEPA credit transfers and SEPA direct debits. The regulation also requires the use of certain COMMON standards and technical requirements, such as the use of International Bank Account Numbers (IBAN) and of the financial services messaging standard ISO 20022 XML for all credit transfers and direct debits in euro in the EU.

Regulation (EU) No 260/2012 establishes 1 February 2014 as the official end date for migration to SEPA of the euro area countries and 31 October 2016 for the other EU Member States. From these dates on, all legacy credit transfers and national direct debits in euro will be replaced by SEPA credit transfers and SEPA direct debits. The regulation also requires the use of certain common standards and technical requirements, such as the use of International Bank Account Numbers (IBAN) and of the financial services messaging standard ISO 20022 XML for all credit transfers and direct debits in euro in the EU.