Deutsche Bank announced SEPA strategy
18 September 2007
Deutsche Bank announced a four-pillar approach to handle all payments with SEPA criteria in the same way as legacy domestic mass payments, irrespective of format and access channel. gBy effectively treating all payments, regardless of amount, as domestic transactions Deutsche Bank goes far beyond the requirements of the current EU Regulated Payment pricing model applicable to payments below a threshold of ‡‹ 000h, the Bank says.
Deutsche Bank will insulate clients in their migration to SEPA through the enhancement of internationally popular payment formats such as IDOC, CSV and EDIFACT to alleviate the need for clients to have to immediately change their payment processes and infrastructure to provide and deliver the official SEPA format - XML. In addition, Deutsche Bank will also support and accept the XML format, even beyond the SEPA scope of countries for all other transactions globally.
The Bank has elected to provide a flexible account model to further insulate its customers and make SEPA migration easier and convenient. Under this structure, existing client accounts in all Deutsche Bank branches within the Eurozone and UK can be used to process all transactions, including SEPA compliant transfers.
Press release
© Deutsche Bank
