SEPA payments

· SEPA payments can be received any payment service provider registered in the European Economic Area and is connected to SEPA compliant payment systems.

· No limit on the amount transferred.

· The payer pays for outgoing SEPA payments and the beneficiary pays for incoming SEPA payments (SHA). It is the only fees option applied to SEPA payments.

· The same fee is applicable to all SEPA payments irrespective of the beneficiary’s country (independently of whether the beneficiary in located in the Republic of Lithuania or any other country across the European Economic Area).

· Possibility of automated SEPA payments processing in STP (straight through processing) mode.

· No need to indicate the beneficiary’s correspondent bank.

· Common payment method and format within the European Economic Area.

· The beneficiary’s account number in IBAN format is enough for identification.

· It is enough for a company to have one euro account with any payment service provider connected to SEPA compliant payment systems for sending and receiving euro payments across the European Economic Area.

· Maximum execution time of 1 banking day from 1 January 2012 (max. of 3 banking days until 2012).

SEPA payments can be initiated using DNB Internet banking – select the menu item “Bank” and the sub-menu item “Payments”, and then choose “International” payment type and you will be directed to “Payment in euro to EEA countries (SEPA)” order form. You can fill it in manually or automatically by importing an XML file in the pain.001.001.02 message format (ISO 20022 standard).

SEPA payments can be initiated also at any DNB bank customer service outlet in Lithuania.

Notice! Currently not all payment service providers located in the European Economic Area are SEPA compliant therefore you can easily check whether your business partner’s payment service provider is ready to receive SEPA payments on the right-hand side of the page.