I've just been informed via another forum, than IBAN numbers are changing across Europe. People say there is a massive advertising campaign but I've heard nothing on Spanish TV or UK TV.

As a consequence of this, all direct debits must be updated before they will be honoured!

For example, Endesa have stopped taking payments (or so I'm told) until the changes are made - how stupid is that!


Any way, has anyone else heard of this change or is it just a wind up?

Mr Google shows very little information other than:-

http://www.readyforsepa.ie/business.html

Which seems to be aimed more at the business community

What will it mean for businesses?

From 1 February 2014, all euro direct debits and credit transfers within the designated 33-country area will be executed under the same conditions. This will create a more efficient borderless payment area by standardising euro electronic payments.

All businesses must be ready for SEPA, as all existing national systems will close on 1 February 2014. You will need to ensure that your pay-roll, direct debit and accounting systems are SEPA ready before 1 February 2014 so that you are able to make euro electronic payments after that date.

A key benefit for businesses is that faster settlement and simplified processes will improve cash-flow and potentially reduce cost.
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How does SEPA Direct Debit work?

SEPA Direct Debit allows you to collect payments in euro from domestic and cross-border debtors throughout SEPA.

SEPA Direct Debit brings with it a number of important business changes:

New file submission time frames
New customer file formats
New automated process for rejected/returned transactions
Increased consumer protection rights
International Bank Account Number (IBAN) and Business Identifier Code (BIC) will replace national sort codes and account number.

http://www.readyforsepa.ie/business.html

This is two replies to this question from another forum, hope they are informative for you.....

Well they are right in one way but not totally they are little late in letting you know.
This law was set way back on Oct 2013 some of us have been the subject to this new law which the banks have already implemented, in late payments of pensions to the Spanish accounts.
If all your utility bills are paid via your Spanish acct once you have transferred money (and I am almost sure as they don't allow payment from foreign banks accounts) then there is absolutley no need to let the companies know, you could ask/ tell your bank to pay them as normal in fact they should be doing that anyway
They will have one of these numbers I think it is IBAN but Spanish banks never asked for SWIFT code until now it is also know as "BIC" by some banks


and this one.....

As GAL says you don't have to do anything as you are just an ordinary consumer. The Banks are doing this automatically for ordinary consumers. Banks have always had their international identifier numbers called IBAN/BIC/Swift. The new rules now mean you just place your bank's IBAN before your bank account no. In doing transfers to your Spanish bank account you would automatically have been doing this anyway. The new Single European Payments Area (SEPA) means that companies within the SEPA area can raise Direct Debits on any bank account within that area. Companies who have Direct Debits on your account will have to do the legwork not you. All government and utility companies are obliged to be SEPA ready from February which will negate the need for non-residents to have a Spanish bank account. Hacienda has implemented this facility since 2012 to enable you to pay your taxes from your home country. Your community administrator should have this facility available for those non-residents who wish to pay their community charges by Direct Debit from their home bank accounts. If you are a company trading in Spain then your systems have to be updated to facilitate the change.

This was first alerted by the UK State Pension people for some people in receipt of State Pension paid direct into their Spanish account. They asked for the full IBAN of the Spanish account where previously they had paid in on the account No. and branch code.

The account No. should be the last 10 digits and the first four for Spain are ES followed by 2 digits. There are two groups of four and 2 digits theses identify the branch and are check digits.

No it is not a wind up (I started a SEPA thread last week but received no response).
As a non-res we have a Fiscal rep. We received an email from them last week saying that we must supply them with our full IBAN bank a/c number - something to do with the new EU SEPA regulations.
The email also said that we have to provide the same information utility companies etc so that direct debits can still be paid.
This could be a real pain for people who are not over in Spain full time !
Apparently this has to be done before 1st Feb this year.
Can anyone throw some light on this

Why will it be a pain for them - I'm told that banks will do it automatically for the normal, public customer.

I also thought it was only to do with direct debits???

When I say 'pain' , my fiscal rep indicated that each company you pay by DD would have to be updated with the new account details. Having to do this if you're in the UK could be a pain. Maybe my fiscal rep has got it wrong or over reacting. That's what I'm not sure about.

AFAIK the IBAN numbers remain the same, it's just that all European countries now have to use this instead of local bank numbers.
Look up SEPA: Single European Payments.
Your bank should auto update numbers as the IBAN is derived from your current bank numbers plus some extras, there is an easy conversion tool that most banks will be required to use in their systems.
also, it is only payments denominated in euros.