SEPA for legal persons

  • Legal persons must, in accordance with regulation to use in communication with its payment service provider account number in IBAN format at the latest from the 1.2.2014, as in the case of payments within the SR, as well as in the case of cross-border payments. Payment service providers do not have the possibility of providing them a conversion service in accordance with legislation, so as in the case of natural persons.
  • Where legal persons are to be sent to their payment service provider payments in the file, so this communication will have to be based on the ISO 20022 XML standard at the latest from the 1.2.2016 (in the case of a legal person if it is ready before this date, it is possible, however the payment service provider must be prepared to communicate in XML format since 1.2.2014).
  • In the use of the SEPA direct debit as the beneficiary of the product a legal person must apply for the assigning of the CID with its payment service provider.