The SEPA is a payment integration initiative of the European Union for simplification of bank transfers. The aim is to improve cross-border payments. SEPA enables you to make cashless Euro payments to anyone located anywhere in the area, using a single bank account and a single set of payment instructions.

The Legislation governing SEPA is required for all Euro payments, and must be implemented no later than:

The output is in XML format. You will need to set the IBAN (International Bank Account Number) on all appropriate records (Customers, Suppliers, Company).

For further information see: The EU Single Market