Why Do I Have To Use The Iban To Make Sepa Payments?

1.	Why Do I Have To Use The Iban To Make Sepa Payments?
Answer» Regulation (EU) No 260/2012 requires the use of certain common standards and technical REQUIREMENTS, AMONG them the International Bank Account NUMBERS (IBANs). The reason for this being that common technical standards are needed to process SEPA credit transfers and SEPA DIRECT debits. They are also necessary to allow interaction and interoperability between different IT systems. Regulation (EU) No 260/2012 requires the use of certain common standards and technical requirements, among them the International Bank Account Numbers (IBANs). The reason for this being that common technical standards are needed to process SEPA credit transfers and SEPA direct debits. They are also necessary to allow interaction and interoperability between different IT systems.

Answer»

Regulation (EU) No 260/2012 requires the use of certain common standards and technical REQUIREMENTS, AMONG them the International Bank Account NUMBERS (IBANs). The reason for this being that common technical standards are needed to process SEPA credit transfers and SEPA DIRECT debits. They are also necessary to allow interaction and interoperability between different IT systems.

Regulation (EU) No 260/2012 requires the use of certain common standards and technical requirements, among them the International Bank Account Numbers (IBANs). The reason for this being that common technical standards are needed to process SEPA credit transfers and SEPA direct debits. They are also necessary to allow interaction and interoperability between different IT systems.

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