The regulation requires that local payment products in euro in non-euro countries are to be replaced with SEPA products (SEPA Credit Transfer and SEPA Direct Debit) and in file format ISO 20022 XML.
For non-euro countries (such as Denmark, Sweden, and Norway) and after 31 October 2016, SEPA Credit Transfers sent in local file formats are to be sent in the ISO 20022 XML format. SEB will continue to support local formats as long as they are compliant with local market practice. SEB will adhere to local market practise in respective markets after 31 October 2016.
Please note that local payment types in e.g. SEK, DKK or NOK via Bankgirot and NETS, will still adhere to local format standards even after the regulation's implementation date.
One key area of impact for Swedish customers is changes that will take place within Bankgirot. During 2014 Bankgirot has, as a consequence of the SEPA End Date Regulation, decided to phase out domestic euro payment products (Leverantörsbetalningar euroo) within EU/EEA by latest 31 October 2016.
The roll-out of the new pan-euroopean payment products started with the introduction of a SEPA Credit Transfer in January 2008. It is a payment instrument that can be used within a country as well as for cross-border euroo transfers. It requires addressing with an International Account Number (IBAN) of the beneficiary, and the Bank Identifier Code (BIC) of the beneficiary's bank.