Deutsche Bank Starts SEPA Transactions With Charity Payments

With the introduction of the single euro payments area (SEPA) on 28 January, Deutsche Bank will make its first SEPA payments to each of the 15 countries within the eurozone. To commemorate the start of the initiative, the bank will make its first SEPA payments to charities within the existing 15 eurozone countries, donating €2801 to each – representing the date of the launch. Commenting on the bank’s approach, Werner Steinmueller, head of global transaction banking, said, “The introduction of SEPA is one of the most important transaction banking industry projects within the last decade and will fundamentally change the euro payments landscape.” He added, “For corporates, our objective is to make the long-term opportunities of SEPA an immediate reality for clients who benefit from lower transaction costs and a smooth migration.”

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