Almost a third of Irish businesses not prepared for SEPA, Central Bank warns

The Central Bank is recommending that businesses prepare for the Single Europe Payments Area deadline.

The changes to electronic credit transfer and direct debit payments are due to come into effect on February 1.

The Central Bank says despite the fact that there is less than three months to go until SEPA arrives, 30% of affected companies are not prepared.

The Single Euro Payments Area is an EU regulation that will simplify financial transactions and make doing business easier across 33 countries, including Ireland.

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