Since 1 August 2014, credit transfers and direct debits denominated in Euro are subject to the SEPA rules. Besides introduction of the International Bank Account Number (IBAN) and a unified legal framework and rulebooks, the main goal of the SEPA, which stands for Single Euro Payment Area, is creating a single payment area for payments denominated in Euro within the European Union plus Norway, Switzerland, Liechtenstein and Iceland.
Finally this means, that each Euro-payment, incoming or outgoing, within the European Union is considered – and charged – as a domestic payment, irrespective of the originator’s and recipient’s country.
How can your good company – as exporter – benefit from this?
As an export oriented company of international renown you deliver your products, among others, to the European markets. Usually your customers pay their bills to your local Thai bank account. Such payments are considered as international payments and charged accordingly with considerable high fees. The SEPA offers the opportunity to reduce the amount of fees significantly by pooling incoming Euro payments from your European customers.
Since 1 August 2014, credit transfers and direct debits denominated in Euro are subject to the SEPA rules. Besides introduction of the International Bank Account Number (IBAN) and a unified legal framework and rulebooks, the main goal of the SEPA, which stands for Single Euro Payment Area, is creating a single payment area for payments denominated in Euro within the European Union plus Norway, Switzerland, Liechtenstein and Iceland.Finally this means, that each Euro-payment, incoming or outgoing, within the European Union is considered – and charged – as a domestic payment, irrespective of the originator’s and recipient’s country.How can your good company – as exporter – benefit from this?As an export oriented company of international renown you deliver your products, among others, to the European markets. Usually your customers pay their bills to your local Thai bank account. Such payments are considered as international payments and charged accordingly with considerable high fees. The SEPA offers the opportunity to reduce the amount of fees significantly by pooling incoming Euro payments from your European customers.
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