Siauliu Bankas : Important news for business customers – the payment import order is changing
November 15, 2017 at 06:15 am EST
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Šiaulių Bankas kindly reminds since 19 November this year, a significant change - amendments to the Credit Transfer Scheme Rulebook - for companies initiating a large number of payments will come into force. According to them, two new elements will be mandatory in the ISO 20022 XML standard notifications.
It is important for entities that use data transfer files, otherwise known as data import between their accounting software and their on-line banking system, for submitting payments to the bank.
This means that payment service providers operating in the market, clients (companies) and accounting software and IT system installers need to carry out necessary preparatory work. We would like to draw your attention that failing to install necessary changes, payment orders will not reach the payment service providers (data import files will be rejected).
The updated version the ISO 20022 XML Standard Notification Usage Rules is available here.
This change is part of Lithuania's accession to the Single Euro Payments Area (SEPA). According to the SEPA Regulation other than very small companies must use ISO 20022 XML format messages if they send or receive payment orders grouped in files, in other words, use of import /export data between their accounting and on-line banking systems.
Upon joining SEPA in 2016, the Lithuania's payment market has become more open. No more differences are left in domestic credit transfers or in transfer to other SEPA countries - residents and corporate entities use the same form of payment orders.
In case of any queries, do not hesitate to contact us by tel. 1813 (+370 37 301 337 when calling from abroad), e-mail to kc@sb.lt or visit any customer service point of Šiaulių Bankas.
Siauliu Bankas AB published this content on 15 November 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 November 2017 11:14:05 UTC.
Original documenthttps://www.sb.lt/en/news/important-news-for-business-customers-the-payment-import-order-is-changing/
Public permalinkhttp://www.publicnow.com/view/648E9F6605C4A3A80061CF0132723C96F1E03013
Siauliu bankas AB is a Lithuanian-based bank. The Bank provides services for both individuals and legal entities. For individuals, the Bank offers credits, leasing, real estate and home loans, deposits, investment services, insurance services, bank accounts, cash and non-cash money transfers, payment cards, online and mobile banking, and various currency services, such as currency trading, currency risk management, and others. The Bank's corporate portfolio includes financing, long- and short-term loans, leasing, factoring, deposits, securities operations, business bank accounts, business credit and debit cards, cash transactions, payments, electronic banking, and others.