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RCB Bank Ltd announces the launch of the Single Euro Payments Area (SEPA) payment scheme

31 December, 2013

Dear Clients,

We are continuing to develop our range of products and are pleased to announce the launch of the Single Euro Payments Area (SEPA) payment scheme, which will be available for all clients with effect from the 1st of January 2014.

The objective of SEPA is to harmonize the payments market across Europe by using common procedures and standards for payments in Euro currency. The SEPA territory consists of 33 European countries and also includes countries which are not part of the euro area and the European Union. The full list of the SEPA countries you can find at the following link:

http://www.ecb.europa.eu/paym/sepa/about/countries/html/index.en.html

To comply with SEPA, payments should meet the following criteria:

  • Payment should be in EUR;
  • Amount - up to 50.000 EUR;
  • Within SEPA area;
  • Value date - T + 1 (provided that payments is received by the bank before official cut-off time);
  • Charge option - only "Shared".

The introduction of SEPA payments is reflected in the new version of the General Terms and Conditions of Customer Service and the Commissions and charges for corporate and individual clients.

Further information about SEPA payments and other services can be obtained at the Bank's branches or by calling our clients support line on +357 25 355722 (for callers from abroad), 800 00722 (toll-free in Cyprus) or 8 800 100 7722 (toll free in Russia).

Yours faithfully,
RCB Bank Ltd

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