Fabian Demicoli

A look at the current SEPA


Last January, the first stage of the Single Euro Payments Area (SEPA) was implemented, with the possibility to conduct credit transfers within the framework of this Area. The developments that we will witness in the coming years should lead to a situation whereby every client should be able to make non-cash euro payments to somebody else in the Eurozone, simply by using one bank account and one payment instrument. In simpler terms, payments to an account holder based in any other part of the SEPA may be effected with the same ease as those in your home State.


The process to get there is extensive and lengthy – the various processes and payment instruments currently available must be made to correspond with each other. For example, a debit card related to your normal bank account must be accepted everywhere, which means that all cards and payment terminals currently on the market must conform to the SEPA requirements.

Although this is a European banking industry initiative, the European Central Bank is an important catalyst in the process and is trying to ensure that the system is in the best interests of the clients – as it was  intended. For this purpose, a survey has been prepared for the purpose of determining the extent to which companies are aware of and ready for this development. It must be ensured that the series of products related to SEPA will meet the needs of their users. The consultation period has now come to an end and the results will soon be issued.

Source: Focus @ MEUSAC


What we can do for you










The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.

A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).