Wayforte Bank is able to provide cost-effective access to the Single Euro Payments Area (SEPA) Credit Transfers and Direct Debits throughout the Euro region, opening up this functionality to both UK and European businesses. Working in conjunction with a leading European clearing bank with its own SEPA capability, we are able to allocate IBANs to our partners’ accounts, enabling them to send and receive SEPA payments.
The SEPA payment schemes were introduced in 2008 to simplify euro-denominated bank transfers across the borders of member states of the European Union and the European Free Trade Association. Through SEPA, European businesses, citizens and public authorities can make and receive payments in euros under the same basic rights and conditions regardless of their location.
We will be launching new programmes in France and Germany during 2016.