SEPA 3.0 is coming

The Deutsche Kreditwirtschaft (DK) continues from 20 November 2016 Version 3.0 of the new EDI agreement comes into force. In particular, the direct debit procedure receives some changes that require an update from GRÜN VEWA make necessary.

The following innovations will be SEPA 3.0 among others include:

  • There will no longer be a distinction between first and subsequent direct debits. Technically, the frequency type "FRST" in the new version is becoming an option. When initiating a first direct debit, payees can now directly use the “RCUR” (recurring) sequence type without first having to use the “FRST” type.
  • The previous lead time of 2 or 5 days for SEPA direct debits will be shortened to one day in the entire SEPA area.
    Technically, the mandate type "COR1" will be omitted for direct debit mandates. The corresponding mandates will all be managed as “CORE” in future - “CORE” will take over the functionality of “COR1”.
  • The format of the XML collection files that are submitted to the bank is technically changing.

These and all other changes will come into effect on November 20, 2016 when the SEPA update is released.

Please note that since February 1, 2016 the so-called IBAN onlyThis procedure applies not only to domestic but also to cross-border SEPA payment transactions within the European Economic Area (EEA). In the case of SEPA payments to or direct debits from other states and areas of the SEPA area (Switzerland, Monaco, San Marino as well as Saint Pierre and Miquelon), the BIC must also be specified in addition to the IBAN.

Experience has shown that not all banks will proceed uniformly when converting to SEPA 3.0. We recommend that our customers contact their bank in good time and ask for the date from when the new SEPA version can be used and how long files can still be submitted in the old format. You should also ask whether additional updates are required for the banking program used.

The changes are made in GRÜN VEWA6 from Booth 91a be available. The previous formats can still be used individually. Please contact our support for this.

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