The banks in the SR were obliged to be SEPA ready not later than 01.02.2014. From this date on:
● they accept payments and direct debits in keeping with the SEPA conventions in the new forms ISO 20022: SEPA payments (pain.001) and SEPA direct debits (pain.008).
● they provide electronic XML statement (camt.053) to the client, eventually a transfer status update by defined means (pain.002)
● they`re authorised to offer the service of conversion of out-dated forms of the payment and direct debit files into the XML forms.