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Credit transfer and refunds to foreign IBANs within the Single European Payments Area (SEPA)

ΚΑΜΣΗΣ ΔΗΜΟΣΘΕΝΗΣ/INTIME

Most payment service providers in Greece have activated interoperability for automatic verification of the beneficiary of the IBAN account, so that when the IBAN is declared, it is checked whether the person declaring the IBAN is really the beneficiary of the account

The Independent Public Revenue Authority (AADE) will offer a new service to citizens as of September 13. This is the possibility of declaring a foreign IBAN account, maintained within the Single European Payments Area (SEPA).

Also, in the same application of the myAADE digital portal, an IBAN account maintained in Greece can be declared to a payment service provider that has not activated the modern automatic verification of the beneficiaries of the IBAN account.

Most payment service providers in Greece have activated interoperability for automatic verification of the beneficiary of the IBAN account, so that when the IBAN is declared, it is checked whether the person declaring the IBAN is really the beneficiary of the account.

The states that join the Single European Payments Area (SEPA) are the member states of the European Union, as well as San Marino, the Vatican, Guernsey, Switzerland, Iceland, Liechtenstein, Monaco, the Isle of Man, Norway and the Principality of Andorra.

Deputy Minister of National Economy and Finances, Christos Dimas, stated: “We are introducing a new service with the aim of providing even better quality and more efficient service to citizens, utilizing new technologies.

The possibility of crediting refunds and paying amounts to foreign IBANs within the Single European Payments Area (SEPA) is another step in simplifying procedures for citizens and businesses.”