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Accounts Frequent questions about SEPA – Submission of C2B Charges File
Everything you need to know
Collections are only available within the SEPA area. Since Portugal is part of the SEPA area, you can collect from both domestic and cross-border customers in a single file.
It’s very easy to convert the BIN (NIB) into IBAN, you only need to add "PT50" to the left of the existing BIN. For instance, the IBAN for the BIN 0033 0000 01234567890 02 is PT50 0033 0000 01234567890 02.
Transfers can only be collected in euros.
No. Service levels, value dates, information in PS2 charging files, check files and statements remain the same or are upgraded.
There is no minimum or maximum limit.
Yes. The C2B layout allows including, in each collection instruction, additional information for the debtor, such as the invoice number, with a maximum limit of 140 characters.
The migration process from the current Direct Debit System to SEPA CORE Direct Debits requires several technical changes, which makes it necessary to adapt existing contracts to the new framework. For more information, please contact your usual Millennium representative.
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