EBA Clearing
EBA CLEARING was established in June 1998 by 52 major European and international banks with the mission to own and operate the EURO1 large-value payment system. Today, EBA CLEARING counts 66 shareholder banks and, through its EURO1, STEP1 and STEP2 systems, offers both high-value and low-value clearing and settlement services to a wide community of banks in the European Union.
EBA CLEARING set one of the first milestones in the era of euro clearing when the newly created company started operating EURO1, a large-value clearing system for cross-border euro payments, on the eve of the Economic and Monetary Union. In 2000, EBA CLEARING launched the STEP1 service for processing low-value single payments. Since April 2003, EBA CLEARING has been managing and operating STEP2, the first pan-European automated clearing house (PE-ACH), which has been offering SEPA Services since 28th January 2008. A comprehensive processing centre for euro payments In a step-by-step approach, EBA CLEARING has assembled the necessary infrastructure to meet the different requirements of its users with regard to the processing of euro transactions in the Single Euro Payments Area (SEPA). EURO1, STEP1 and STEP2 offer a comprehensive array of services ranging from high-value to low-value, from non-STP to STP, from time-critical to non-critical, from single to bulk payments. EURO1 and STEP1 provide an efficient, secure and cost-effective infrastructure to the banks in the EU for channelling their financial and commercial cross-border and domestic payments in euro. EURO1 and STEP1 are based on the messaging infrastructure and computing facilities provided by SWIFT. EURO1 settles at the end of the day via a settlement account at the European Central Bank. STEP2 is a pan-European ACH for mass payments in euro. Its newest services include the SEPA Credit Transfer (SCT) Service as well as the SEPA Direct Debit (SDD) CORE Service and the SEPA Direct Debit (SDD) B2B Service, all fully compliant with the SEPA Scheme Rulebooks. The SCT Service was launched on 28th January 2008, the earliest possible date for SEPA payments. The SDD Services are ready to go live as soon as one or more countries across SEPA have transposed the Payment Services Directive of the European parliament and of the council into their national law and their banks decide to start using the SDD Services for exchanging direct debits. Furthermore, since 2003 the STEP2 platform has been handling Regulation (EC) No. 2560/2001-compliant credit transfers as part of the XCT Service offered to banks in the EEA. All STEP2 Services are based on the messaging infrastructure of SWIFT and on computing facilities by SIA-SSB.
Address: 4, rue de Galliéra, 75116 Paris, France
Phone: +33 1 53 67 07 00
FAX: +33 1 53 67 07 07
