With HSBC, SEPA Credit Transfers are reduced to just one day (SEPA stipulates a three-day maximum) and by meeting certain cut-off times, you can even make same-day payments. Our online payment platform HSBCnet makes it easy to manage SEPA Credit Transfers and other payments and receivables.
Meanwhile, the SEPA Direct Debit scheme aims to standardise direct debit payments across Europe. Operate direct debits between different countries through this single solution, and conveniently manage your payments centrally. If you currently make direct debit payments, the only noticeable differences are minor changes to the information on your statement. You'll still pay the same amount for each direct debit and there's no need for you to contact us to change any details.
Benefits for domestic payments
Making payments within one country is a breeze with the introduction of several SEPA products. Use SEPA Credit Transfers to make non-urgent payments in euros from a single euro bank account – making it much easier to start making cross-border payments in a period of one to three days. Meanwhile, SEPA Direct Debit provides you with an opportunity to consolidate your bank accounts to fully optimise your European cash management structure.
Benefits for cross-border euro payments
Whether your payments are decentralised or centralised, SEPA can impact your business in one way or another. Make your business more manageable, efficient and cost-effective through SEPA.
Consolidate your payments and banking relationships with SEPA. For multinationals with decentralised payments, SEPA offers the opportunity to improve efficiency and cut costs.
If your payments are centralised and limited to three countries or less, SEPA offers benefits for both regular and one-off payments and collections. And if you make payments to three or more European countries and your operations are centralised, you are in a strong position to maximise cash visibility and liquidity.
By switching to SEPA products for payments across numerous areas, you can simplify your processes and improve efficiencies.
As a business with interests in Europe, SEPA will increasingly offer you new opportunities as more SEPA products are introduced. These will eventually replace domestic payment schemes such as direct debits and credit card payments. As a result, SEPA will have a much greater influence on your payments and SEPA compliance and implementation will become a broader issue for you.