SEPA | Austrian Anadi Bank

SEPA Single Euro Payments Area — Euro-Zahlungstransaktionen zu Inlandsbedingungen


SEPA – a single Euro Payment Area

SEPA (Single Euro Payments Area) refers to an area in which consumers, business owners and other economic operators can make and receive EURO-payments; regardless of the country where they take place. The same basic conditions, rights and obligations shall apply to cross-border payments within the same country. Carry out your EURO transactions within the SEPA countries under uniform conditions as easily and securely as domestic transactions!

  • SEPA payments can only be made in EURO.
  • SEPA participants:  recipient countries are the EU member states, Switzerland, Liechtenstein, Iceland, Norway, Monaco and San Marino.
  • IBAN and BIC of payer and payee must be provided correctly and in full.
  • The receiving bank must be SEPA-compliant.
  • Easy purchase of goods and services in the SEPA area with uniform payment terms and uniform legal framework. This is regulated in Austria under the  Payment Services Act.
  • Cross-border payments and direct debits are standardised in the SEPA area.
  • Shorter implementation times for SEPA payments.
What new features does SEPA offer for you as a customer?
New features for Consumers
  • Consumers will only need an account at the Austrian Anadi Bank AG. From this account, all transfers, direct debits and card payments in the single European market can be processed in the same efficient manner as domestic payments.
  • People who do not live, work or study in their home country, need no additional account besides their account at the Austrian Anadi Bank AG within the SEPA member states.
  • The use and acceptance of payment cards will be more efficient, as consumers can use the same card within the SEPA area.
New features for KMUs
  • The new procedures offer, in particular small and medium businesses, the chance to open up new procurement and sales markets in the European market.
  • In addition, SEPA offers the opportunity for further modernisation of payment transactions (improved networking of payment transactions and internal accounting).
  • Standardised data for all European business partners. Regardless of whether at home or abroad, the master data, such as IBAN and BIC are uniform. Through this identical Europe wide use, the effort in customer data management is minimised.
New features for corporate clients and companies
  • The entire euro-denominated transactions (SEPA payment order, SEPA Direct Debit) can be processed centrally via one bank account using SEPA payment instruments.
  • Cost reduction and time savings through consolidation of payment and liquidity management in one location.
  • Simplification of payments, as all incoming and outgoing payments can be processed using a standardised format (XML).
  • Use of additional services: The standardised SEPA payments will help to ensure that services that are currently often offered only nationally, will be available across Europe (e.g. e-invoicing, e-reconciliation) in the future.
  • Under SEPA (Single Euro Payments Area) cashless payments and the infrastructure for Euro payments will be standardised in a total of 34 European countries.

AOS – Additional Optional Services
The free space available to banks through the EPC standardisation, to offer special services outside the pan-European standard. To date no AOS have been defined in Austria.

BIC – Bank Identifier Code
The BIC is an 8 or 11-digit alphanumeric key and identifies a bank or the branch of a bank.

The creditor is the person who submits SEPA direct debits or SEPA corporate direct debits and the recipient of a payment.

CID – Creditor-Identifier
The Creditor ID is an 18-digit alphanumeric code and identifies the person who submits SEPA direct debits and SEPA direct debits. This is applied for through the bank of creditors and is awarded in Austria centrally by the OeNB.

The Debtor is the payer of the direct debit, from whose account the amount is debited.

Due Date
The due date is the date agreed between creditor and debtor. Thereby the debtor is aware of the exact date that the account is debited.

EMV-Standard – EuroCard/MasterCard/VISA-Standard
The EMV standard is a standard created by Euro Card, MasterCard and VISA. Chip cards and the related payment processing were standardised through technical standards.

EPC – European Payments Council
The European Payments Council is the body of the European Union banking industry. The primary objective is the realisation of the Single Euro Payments Area (SEPA), which should be implemented as soon as possible within the framework of self-regulation, without intervention of the legislator.

EU – European Union – Member States
Belgium, Bulgaria, Denmark, Germany, Estonia, Finland, France, Greece, Great Britain, Ireland, Italy, Croatia, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Austria, Poland, Portugal, Romania, Sweden, Slovakia, Slovenia, Spain, Czech Republic, Hungary, Cyprus.

Belgium, Germany, Estonia, Finland, France, Greece, Ireland, Italy, Latvia, Luxembourg, Malta, Netherlands, Portugal, Austria, Slovakia, Slovenia, Spain, Cyprus.

EEA – European Economic Area – Member States
In addition to the EU-Member States: Norway, Iceland, Liechtenstein.

ECB – European Central Bank
Founded on 1 June 1998 as successor to the European Monetary Institute, the European Central Bank with its headquarters in Frankfurt defined the common currency and monetary policy in the Euro Area in the third stage of the economic and monetary union. The Eurosystem consists of the ECB and the national central banks of the countries that have adopted the Euro.

IBAN – International Bank Account Number
The IBAN is an internationally agreed system of identifying bank accounts and includes the country code, bank code, account number and check digit.

Mandate (SEPA Direct Debit Mandate or SEPA Corporate Direct Debit Mandate)
The debtor provides the creditor with a SEPA direct debit mandate or SEPA corporate direct debit mandate, so that the corresponding amount may be collected from their bank account. The mandate is comparable with the previously more stringent procedural requirements, such as Creditor ID and mandate reference.

Mandate Reference
Each mandate includes a unique mandate number (mandate reference), which must be specified with each submission of a SEPA Direct Debit or SEPA Corporate Direct Debit by the payee (creditor). It is created individually by the payee and can contain up to 35 alphanumeric characters. Together with the Creditor ID of the submitter, each mandate is uniquely identified Europe-wide.

The Payment Services Directive provides the legal basis for creating an EU-wide single market for payments. At the end of June 2009, there was a new Payment Services Act (ZaDiG), in order to implement the PSD in Austria, which finally came into force on 1 November 2009.

SEPA-Transfers (SCT – SEPA Credit Transfer)
Bank details are invariably given in the form of IBAN and BIC. This applies both to the recipient as well as for payer data. Both accounts must be denominated in Euros.

SEPA-Direct Debit (SDD – SEPA Direct Debit Core)
The SEPA Direct Debit will replace the existing direct debit in use in Austria. The new standard method can be used throughout the entire SEPA area and guarantees a uniform legal certainty. There is a time limit for objection of 8 weeks for valid mandates. In mandate contention, consumers can register objection up to 3 months, non-consumers up to 13 months after debiting and demand a refund.

SEPA-Corporate Direct Debit (SDD – SEPA Direct Debit B2B)
SEPA direct debits between businesses can be completed both with the SEPA Direct Debit Core as well as the SEPA Direct Debit B2B procedure. The SEPA Direct Debit B2B with valid mandate is final, that is, a SEPA Corporate Direct Debit with a valid mandate cannot be reversed by the payer.

SEPA-Member States
EU and EEA Member States, as well as Switzerland, Monaco and San Marino.

Since 1991, the Studiengesellschaft für Zusammenarbeit im Zahlungsverkehr (Research Association for Cooperation in Payments) or STUZZA, has been the cooperation platform of the largest Austrian banks.

XML – Extensible Markup Language
Is an expandable, text-based meta-markup language that allows data to be described and structured in such a way that they can be exchanged between a variety of applications in diverse hardware and software environments.


The Payment Services Act is the implementation of the Payment Services Directive into national law. With the inception of ZaDiG, the Austrian Banking Act, the remote financial services law (Fern-Finanzdienstleistungs-Gesetz), the Consumer Protection Act, the Financial Market Authority Act and the Insurance Supervision Act were amended and the Financial Transfers Act repealed. The ZaDiG has been effective since 1 November 2009.