SEPA - EBA STEP2 and Ancillary Services

Pan-European Clearing House for retail payments and collections in Euro.

Processing and clearing solutions offered by SIA as a SEPA ACH for the interbank management of SEPA Credit Transfer (SCT) and Direct Debit (SDD) Core and B2B instruments in compliance with current SEPA standards.

In STEP2, retail collections and payments are sent in file format to the EBA/SIA central system, where they are processed by offset and transferred for settlement to TARGET2.

SEDA is an additional optional service for SEPA Direct Debits, which involves the exchange of mandate information between the Beneficiary (creditor) and the Payer's PSP, via an alignment PSP.