The European banks, the European Central Bank and the European Commission share the vision that all economic actors will be able to make and receive payments in euro, within Europe, whether between or within national boundaries under the same basic conditions, rights and obligations, regardless of their location.

To this end the European banking industry founded the European Payments Council (EPC) to define new rules and procedures for Euro payments (made by credit transfer, direct debit and cards). From 28 January 2008 onwards banks will offer and process European payments based on the EPC standards. Dutch banks also will contribute to the creation of the Single Euro Payments Area.

The Dutch banking industry, represented by the Netherlands Bankers’ Association (NVB), together with DNB and with Currence, the owner of various domestic collective payment products, have created the SEPA NL Migration Steering Group to be responsible for co-coordinating, and monitoring the progress of, the migration to SEPA in the Netherlands.

In the Dutch SEPA Migration plan (English version/Dutch version) (Transition to SEPA, October 2007) the Steering Group describes how the Netherlands will migrate from national to European payment instruments. To safeguard a phased and market driven migration towards SEPA, Dutch Banks consult their clients and on the social level the Netherlands’ Banker’s Association (NVB) consults associations of stakeholders. Further leading principles are an undisturbed functioning of the payments system and maintenance of the existing efficiency levels.

This migration plan aims to inform all organizations involved in the Dutch noncash payment system on the overall scope and phasing, including ballpark timeframes, of the introduction and migration of SEPA within the Dutch payments sector, and will be used as a point of departure for all consulting stakeholders, in particular the SEPA Netherlands Consultative Committee. This plan is a sequel to the Programmaplan SEPA NL released by the NVB (Nederlandse Vereniging van Banken) on 18 November 2005.

Introduction of European payment instruments will start in 2008. A fixed completion date is not mentioned. Transition dates will be fixed through consultations after the instruments have been introduced in the Netherlands, allowing stakeholders to get to know their characteristics and operation.

For more information see:
www.c-ebs.org,  www.dnb.nl,   www.europeanpaymentscouncil.eu,  www.nvb.nl,   www.sepanl.nl