[attach id=269737 size="medium"]HSBC UK’s Paul Schiavi in Malta to inform HSBC customers about SEPA developments, benefits and requirements.[/attach]

Companies in Malta are advised to begin preparing their systems and procedures to benefit fully from the Single Euro Payments Area which will come into force by February 1, 2014.

This was the view put forward by HSBC’s Client Integration Manager, Paul Schiavi, when he visited Malta to hold SEPA workshops with HSBC Malta business customers.

SEPA is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euros, which aims to make Europe more dynamic and competitive. It offers a single format and stand-ardised payment schemes across all 28 EU member states as well as Iceland, Lichtenstein, Monaco, Norway and Switzerland.

HSBC Group has been a key driver in the evolution of SEPA XML payment stand-ards and supports a large client base across some 60 countries worldwide.

“HSBC Malta is committed to supporting its customers so they may benefit fully from the improved efficiency and reduced costs associated with this standardised and highly competitive payment system,” said HSBC Malta Head of Payments & Cash Management Gordon Scicluna. “With proper planning and preparation, migration to the SEPA infrastructure may be embraced as a very positive development with significant benefits for businesses and customers alike.”

More information about SEPA is available on HSBC Malta’s website at www.hsbc.com.mt/sepa.

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