Pan-European automated clearing house

A pan-European automated clearing house (PE-ACH) is a clearing house that is able to settle SEPA compliant credit transfers and direct debits across the Eurozone.

At present there is only one PE-ACH in operation – STEP2 – which was established by the Euro Banking Association in April 2003. According to a survey done by Equens, in the future PE-ACH might be less relevant as banks will settle their transactions via multiple clearing houses[1] rather than using one central clearing house.

  1. Syrbe, Benjamin. "European Trend Survey 'Banks & Future'". Equens whitepaper. Equens. Retrieved 15 October 2013.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.