Get Ready for SEPA! Read Fourth Progress Report on Migration towards S...

Get Ready for SEPA! Read Fourth Progress Report on Migration towards SEPA in Belgium: As of July 2012, the SEPA Credit Transfer Migration Rate is 58 Percent; the SEPA Direct Debit Migration Rate is 12 to 15 Percent.

24 October 13

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The fourth progress report on migration towards the Single Euro Payments Area ( ) in Belgium was published by the Belgian Steering Committee on the future of means of payment in September 2012. In Belgium, as of July 2012, the share of European credit transfers reached more than 58 percent of total credit transfers; the share of European direct debits amounted to a level between 12 and 15 percent. To learn more on the migration process in Belgium, refer to the links below.

Belgium remains a front runner regarding migration to harmonised payment schemes. According to the Indicators compiled by the European Central Bank, in July 2012, the share of Credit Transfers, as a percentage of the total volume of credit transfers generated by bank customers, amounts to 29.6 percent in the euro area, and the share of Direct Debits amounts to 1 percent  in the euro area.

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