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National Payments Plan & SEPA B2B

  • 25-04-2013 9:52am
    #1
    Registered Users, Registered Users 2 Posts: 558 ✭✭✭


    I'm prone to the occasonal rant but this has really got my goat.

    The NPP aims to save the economy billions in transaction costs by eliminating cheques and getting people using e-banking.

    Meanwhile what they don't tell you is that the irish banks are simply not bothered implementing SEPA in full meaning you would be mad to stop using cheques.

    But the lads all got their pics in the papers pretending to be doing something while geting a nice wedge for doing the square root of nothing.


Comments

  • Closed Accounts Posts: 3,648 ✭✭✭Cody Pomeray


    I agree the banks are slow on implementing and using the agreed SEPA systems, but they don't have a choice under EC 260/2012.

    It shouldn't be surprising that everything isn't in place today and that the banks are still using the Irish payments model, but everything will have to be in place by the 1st of February 2014 or you can report the bank in question for non-compliance.


  • Registered Users, Registered Users 2 Posts: 558 ✭✭✭clear thinking


    The banks are not implementing the SEPA b2b setup which means that debtors will be able to recall 8 weeks of DD's unilaterally.

    Harldy worth changing from cheques if your customers can get 2 months of payments back for no reason.


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