What’s happening?

As a result of the Transfer, you’ll need to update your SEPA Direct Debit payments to include your new IBAN details.

Timing

Please begin using your new IBAN on the Transfer Date—October 27, 2025.

What you need to do

 

SEPA DD B2B

SEPA DD Core

If you are sending funds

You’ll need to request your counterparties (creditors) to repaper your direct debit mandates with the new IBAN details beginning October 27, 2025 (the Transfer Date).

You’ll need to request your counterparties (creditors) to amend the direct debit mandates with new IBAN details beginning October 27, 2025 (the Transfer Date).

If you are collecting funds

You’ll need to amend the instruction files if you instruct using the IBAN (instead of Company ID) and submit them as a RCUR—beginning the first collection following the Transfer Date.

You should also inform whomever is sending those funds (debtors) about the change, but no further action is required from them.

You’ll need to amend the instruction files if you instruct using the IBAN ( instead of Company ID) and submit them as a RCUR—beginning the first collection after the Transfer Date.

You should also inform whomever is sending those funds (debtors) about the change, but no further action is required from them.

What you should know

  • You’ll receive your new IBAN in the second quarter of 2025, but it will not be active until the Transfer Date.
  • We’ll still support your old IBAN for nine months after the Transfer Date. During this time, your client service representative will be able to provide details of who is still using your old IBAN.
  • After the nine-month grace period, your old IBAN will deactivate.