2/2/2016 Due to new EU regulations* Bankgirot, in agreement with the participants in the Bankgiro System, has decided to remove the euro payments functions from the Leverantörsbetalningar (Supplier Payments) payments service.
From 31 October 2016 Bankgirot will no longer process payment instructions in the euro currency in Sweden. Instead, they should be sent directly to the appropriate bank for processing. Once Bankgirot no longer processes payments in euro nor will such payments be reported in Bankgirot's incoming payments services.
The banks will develop solutions for euro payments that comply with the new EU regulations. As a customer who uses the Leverantörsbetalningar (Supplier Payments) service you will receive more information from your bank in good time before the changes.
Business system adaptations required
On the technical side, the new EU regulations mean that software and business systems that process euro payments may need to be adapted to the ISO 20022 XML format. Moreover, changes to functions for the invoicing and reconciliation of euro payments will be needed. For more information for software developers, please visitwww.bankgirot.se/removaleuro.
* SEPA, Single Euro Payments Area, is an initiative within Europe that aims to strengthen European integration and Europe's competitiveness internationally by means of a unified payments structure for mass payments in euro. The European Commission has adopted a regulation that requires national payments products and formats for payments in euro in the EU to be replaced with products and formats that comply with SEPA's regulations. The regulations apply as of 31 October 2016 to those countries in the EES that do not use the euro as their national currency.