member payments
Clubs could fi nd themselves with lots of members, but no way to collect fees from them
established technical and business requirements for credit transfers and direct debits in the Eurozone. This ruling defi nes 1 February 2014 as the deadline in the Euro area for compliance with the core provisions of SEPA. In simple terms, all Eurozone countries must move to SEPA by February 2014 and all legacy solutions will in effect be ‘switched off’. Effectively, this means that existing national Euro credit transfer and direct debit schemes (legacy) will be replaced by SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD).
Are the banks prepared? It became mandatory for the banks in all Eurozone countries to have adopted SEPA by November 2010, and since then SEPA has been running in parallel with the legacy solutions. However, our experience is that banks in different countries vary
Clubs will need to get members to re-sign their direct debit agreements
“1 FEBRUARY 2014 IS THE EUROZONE DEADLINE FOR COMPLIANCE WITH SEPA – LEGACY SOLUTIONS WILL THEN BE SWITCHED OFF”
60 Read Health Club Management online at
healthclubmanagement.co.uk/digital july 2012 © cybertrek 2012
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