February 2016 use your previous account number and sort code.

But FC Schalke 04 is in no hurry. At least that’s what sports director Heidel says. Sané himself wants to change in the summer. FC Bayern may have to start the Bundesliga season without Arjen Robben. Nevertheless, the club’s new coach, Carlo Ancelotti, sees no reason to return to the transfer market.

For good reason, he thinks. The move to Manchester City seems perfect, but suddenly national soccer player Leroy Sané is back in talks at Bayern. Arjen Robben is injured, so the German champions could use the nimble Schalke wing racer. It is becoming more and more likely: One of the greatest talents in German football is about to move to England. Pep Guardiola lures Schalke jewel Leroy Sané to Manchester City – and probably knocks out his ex-club Bayern Munich.

Basketball star LeBron James makes Jürgen Klopp a special offer, the new Liverpool goalkeeper Loris Karius lets go of the Olympic Games in Rio and José Mourinho gives Zlatan Ibrahimovic a little longer. In the end, it turns out that it shouldn’t have happened: Germany’s footballers fail in the semi-finals of the European Championship against France and struggle with fate. Also because not all of them are as cool as they sometimes seem. By Stefan Giannakoulis, Marseille Leroy Sané is hotly courted, but Schalke’s shooting star did not get a chance at the European Championship finals in France. New job offers for the 20-year-old may mean that his head is not always on site.

When does Sané whirl? Is Schweinsteiger pushing his colleague Khedira from the German EM team? And what if Boateng is injured?

Lots of questions and some answers before the round of 16 against Slovakia. By Stefan Giannakoulis, Lille Tobias Nordmann, Évian Breel Embolo has not yet scored a goal at the European Football Championship. But the Swiss attacker is considered a great talent. FC Schalke 04 is interested. The 19-year-old could replace a service provider. “” Bundesbank board member Thiele appeals primarily to associations and companies. (Photo: REUTERS) The European payment system Sepa will be launched in less than six months.

But still not all companies and associations seem to be prepared for it. In the worst case, payments cannot be processed. The Bundesbank already banned a good 200 employees from taking vacation at the beginning of the year. A good five months before the start of the new European payment system Sepa (Single Euro Payments Area), the Deutsche Bundesbank is increasingly concerned about the slow changeover. “We warn of liquidity bottlenecks after February 1, 2014: Payments of salaries and other services can no longer be processed on time if the payment data is not submitted to the bank in Sepa format,” said Bundesbank board member Carl-Ludwig Thiele Many small businesses, craft businesses and associations in Germany are not yet aware that the new EU rules for transfers and direct debits (Sepa) will also be binding nationally from February 2014, and not only in international transactions. “Anyone who hasn’t prepared by then has a problem.best biology essay writing service uk

And we point this out at an early stage. “Banks, associations or the banking supervisory authority BaFin had repeatedly warned that the supply of liquidity could be massively disrupted at companies process in Sepa format with the international IBAN account numbers. However, according to the Bundesbank, the creditor ID (identification number) required for direct debits was only issued in 712,738 cases in Germany by mid-August.

However, there are 3.6 million companies and around 580,000 associations nationwide. With the changeover, transfers abroad should be faster and cheaper. “We have prepared holiday bans for almost 200 employees in the payment transactions area – from mid-January to the end of March,” said Thiele. The Bundesbank is responsible for smooth payment transactions, but not for the changeover: “The credit industry and its customers are responsible.” Businesses, municipal administrations and associations – regardless of whether they are sports clubs or development associations – don’t just have to apply for a creditor ID, said Thiele: “For companies, the changeover is often associated with complex software adjustments.” Direct debits for membership fees, for example, would have to be changed by the creditor. Private individuals, on the other hand, do not have to initiate anything, but in future only enter the 22-digit IBAN instead of the previous account number with bank code: “If you have subscribed to a magazine and your invoice for it Pay by direct debit, then the magazine publisher will ensure that the debits continue with Sepa. “In addition, there is no major change for private individuals:” What actually changes: The IBAN is made up of the previous bank code and the account number Account number may only be filled with zeros, prefixed with the country code ‘DE’ for Germany. The only new thing is an individual two-digit check digit that protects against number rotators.

That together is the new IBAN, which can already be found on bank statements and most bank customer cards. “The Bundesbank sees the big corporations well prepared. Pension payments or child benefit payments have already been completely changed, said Thiele:” But it doesn’t work with the small ones Companies, associations and craftsmen who think that Sepa should not be of interest to them because they do not operate across borders. “In a European comparison, Germany lags behind. In the euro zone, Sepa’s share of transfers in June was 47 percent, in Germany in first quarter – more recent data are not available – at 8.7 percent. With direct debits it looks even more dramatic.

The Sepa share was 3.7 percent in Europe and 0.14 percent in Germany. “That’s not quite that much yet,” said Thiele. After all, the awareness of the Sepa switch has recently increased. Source: ntv.de, jwu / dpa “” “” Most people in Euroland do not yet suspect what to expect from 2008: Sepa. You may suspect that the term is a shower gel or a new car model.

But no one can come up with standardized European payment systems that are supposed to make transfers, direct debits and card payments in the entire euro area as cheap and easy as they are in Germany today. Sepa is typically European: Years of political tug-of-war, a lot of effort and a hoped-for benefit that nobody can quantify. With the Single Euro Payments Area-Sepa, the limits for cashless payments in the euro area are to fall. So far, cross-border transfers in the EU may not be more expensive than domestic payments by regulation. But there are still large price differences for payment services. Techniques and standards vary from country to country.

The customer cannot pay with cards everywhere. The EU Commission and the European Central Bank (ECB), the drivers of the project, want to end the mess and expect falling prices in payment transactions as a result. This is intended to promote cross-border business and ultimately growth. In order to achieve this, not only should the tiny proportion of cross-border payments become uniform, but the entire domestic payment system should be converted. For a transitional period that is not precisely defined, the banks will continue to use the old procedures. Customers should get used to it. “It’s as if all folk dances in Europe were being standardized,” says a payment expert, explaining the dimensions of the project. According to the Bundesbank, the expense for banks and customers is about as great as when the euro was introduced.

For private customers, the changeover to the international account number IBAN and the bank identification BIC will take getting used to, especially with transfers. Instead of a total of 17 numbers, it is now necessary to memorize 22 digits and a combination of eight letters. There is a lot of work to be done by large companies that, like Allianz or Telekom, collect billing amounts from millions of customer accounts and have to renew all direct debit authorizations for euro direct debits.

However, companies operating across Europe also have advantages: They could concentrate their payment transactions across several countries in one location. However, the project that the EU and ECB have been pushing the banks to pursue for years still has a number of obstacles to overcome. The EU member states have now thwarted their own executive branch. With the Payment Services Directive you have to create a legal basis for Sepa.

But the dispute over the details thwarted the timely adoption. The banks will therefore probably not offer all payment methods from January 2008. The governments are so far not prepared to switch to the new products from 2008 onwards with the payment transactions initiated by the state. Because the member states are not convinced that Sepa payments are better or cheaper than the previous procedures.

However, it can take longer than until 2010 until the unspecified “critical mass” of Sepa payments is reached. But this is needed so that prices can drop and the old systems can be phased out, a goal that is controversial anyway. With the changeover, the banks want to adapt to customer needs. The savings banks, with their high proportion of private customers who rarely have to cross borders when paying, want to keep the tried and tested instruments.

They fear that Brussels could make Sepa too cumbersome with complicated legislation, causing customers to reject the new products. “We have very efficient and powerful processes – why should we give them up too quickly in favor of processes that are weaker in terms of performance and also more expensive?” Asks Stefan Marotzke, spokesman for the German Savings Banks and Giro Association. By Ilona Wissenbach, Reuters Source: ntv.de “” According to the Bundesbank, the changeover to the new European payment method Sepa has largely been completed in Germany. In June 2014, according to the central bank, the new procedure was used for 92.7 percent of all transfers in Germany. The Sepa share was 84 percent of direct debits. As of August 1, 2014, companies and associations may only make direct debits and transfers in euros in Sepa format with the international IBAN account number. If companies and clubs do not convert in time, they must expect fees.

A longer period applies to consumers: they can use their previous account number and bank code until February 1, 2016. The Sepa Euro Payments Area (Single Euro Payments Area) now includes 34 countries, including the 28 EU countries. The aim is to standardize transfers, direct debits and card payments across borders and thus accelerate them. (dpa) Source: ntv.de “News and information at a glance. Collection of articles by n-tv.de on the topic of SEPA” The EU Commission wants to extend the transition phase for the changeover to the new European Sepa system by half a year.

The aim is to prevent interruptions in payment transactions, says EU Commissioner Barnier. The formal deadline of February 1 remains unaffected. The Sepa changeover is not going fast enough: Michel Barnier (archive picture). (Photo: REUTERS) A few weeks before the official introduction of the European transfer and direct debit procedure Sepa, the transitional regulations are becoming less likely. The EU Commission has decided to extend the transition period by six months. “I regret having to do that, but this measure is necessary to prevent possible risks of disruption to payment transactions, especially for consumers and small and medium-sized enterprises Companies could have consequences, “said EU Internal Market Commissioner Michel Barnier. The conversion rate is not high enough to ensure a smooth transition to the new system, explained Barnier. EU states and the European Parliament still have to approve the move. The previous deadline for the Europe-wide changeover to the Sepa payment system will remain in place, it said.

From February 1, 2014, companies, associations and public administration must use the Sepa system in accordance with the EU regulation. The regulations for citizens remain unaffected. Private individuals can still use their previous account number and sort code until February 1, 2016. According to Barnier’s new proposal, payments that do not yet meet the new standard should now be accepted until August 1, 2014. This would mean an extended as-well-phase also applies to direct debit, in which, for example, many associations are in contact with private account holders. Europe is growing together – from February 1, 2014 this will also apply to joint payment transactions. In the future, transfers and direct debits will be regulated according to a uniform procedure, for which politicians and the banking industry have developed uniform guidelines for national and European payment transactions.

The entire project is called Sepa. The acronym stands for Single Euro Payments Area (for example: “Uniform Euro Payments Area”) and aims to standardize cashless payments in Europe. The new standardized procedures are for euro payments in the 28 EU countries, Iceland, Liechtenstein, Norway as well as Monaco and Switzerland can be used. The Sepa area thus includes a total of 33 countries. Source: Bundesbank The European Central Bank (ECB), however, stated that it would stick to the conversion date of February 1.

The progress with the Sepa introduction is good. The vast majority of all those involved will be ready by the end of the month. For transactions, bank customers will have to get used to account numbers with significantly more digits than before. Transfers, direct debits and card payments will be standardized and processed according to the same system – regardless of whether they go domestically or across borders. The aim of the change is to simplify cross-border payments. With Sepa, the bank details are changing: The system of account numbers and bank routing codes that was previously used in Germany, for example, is being replaced by a new international account number.

This so-called Iban (“International Bank Account Numbers”) consists of 22 digits. For German bank customers, the Iban begins with the country code DE, followed by the two so-called check digits and then the well-known bank code and account number.