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View Full Version : What does SEPA mean for a direct debit? Can anyone help identify this?



minimadmandy
01-03-2014, 11:08
We are currently with Lloyds bank international who are in the process of being taken over by Sabadell. From the start it has been a nightmare, missing debit cards, no online banking security cars etc which has involved a lot of telephoning and going round in circles. After a week of trying to log into my account I have noticed a deduction on my account which says SEPA. No other information supplied. I have no idea what this is for and looking back over the last few years I haven't paid it before. Tried to ring the bank and having no luck getting through for a week now. Just being passed back and forwards between LLoyds and Sabadell. Once the transition is finished on 15th March it might be easier but was wondering if anyone else had an idea what this might be? I'm guessing some other additional bank charge to go with the extortionate ones we are now having to pay? Can anyone help?

junglejim
01-03-2014, 11:28
Might be something to do with this ? Have you transferred funds?

http://translate.google.co.uk/translate?hl=en&sl=es&u=http://www.sepaesp.es/&prev=/search?q%3Dsepa%2Bbancario%26client%3Dsafari%26hl% 3Den

minimadmandy
01-03-2014, 12:37
Might be something to do with this ? Have you transferred funds?

http://translate.google.co.uk/translate?hl=en&sl=es&u=http://www.sepaesp.es/&prev=/search?q%3Dsepa%2Bbancario%26client%3Dsafari%26hl% 3Den

That's all the info I could find as well. No transfer out of the bank account that I dont know about. All direct debits are regular and we transfer money from the UK to that account. Apart from that nothing else was expected. Bit weird that when you click on the transaction there is no info, where as on the others it says what they are for. Im guessing its the bank charging us for something we don't know about!

barryk
01-03-2014, 13:33
Single Euopean Payments Area

Info here:

http://www.paymentscouncil.org.uk/what_do_we_do/european_payments/sepa_frequently_asked_questions/

I know with Banca March if I transfer my money using a fx that uses SEPA there is no charge

Hope this helps

Barry k

Liz and Mike
01-03-2014, 14:15
Hi Minimadmandy

I had the same thing on our account - figured out it was the electricity direct debit when I got my statement through the post. It must be how they've set it up in the transfer over to the new bank. They certainly haven't made it easy through the whole process, a bit of shambles. Hopefully it will get better when it's all up and running in March.

Liz

bonitatime
03-03-2014, 15:41
If Caja Canarias to Caixa is anything to go by it will be 6 months of chaos then things will start to improve
I quite like Sabadell and fell their services are good

minimadmandy
04-03-2014, 00:17
Tried again today to phone bank but still getting we are busy please call back later all the time. Thanks for confirming you are getting them a swell! I was starting to think it might be the electricity and with the changes to the bank that they had adapted the new debit system. However you would think that if you selected the debit online it would actually say what it is! If not then every debit will now appear with the same description. Think I've just got to sit tight and wait until it all transfers over. Then we got to go though the pain of finding a new bank.rolleyes2:

djulie
04-03-2014, 13:38
I don't know what SEPA actually stands for but it often appears before my direct debit payments. On the day it first comes out it only states SEPA but afterwards more details appear. It could be community fees or your electric so check what you have due out.

I am frustrated by the transfer to Sabadell too, especially by the lack of clarity over charges and loosing our 'free' travel inurance. Hopefully in a few months things will be clearer. We ended up visiting the branch to get answers to our queries.

Good luck!

bonitatime
04-03-2014, 15:40
SEPA stands for Single Euro Payments Area,

barryk
04-03-2014, 18:10
See post 4 on this topic for FAQ,s

Pooh
04-03-2014, 19:29
All direct debits after 1 Feb are through SEPA, and through the IBAN account number, so it could be any direct debit you used to have.
You should have received info from your bank about the switch of direct debits to SEPA from 1 Feb.

minimadmandy
04-03-2014, 23:30
I don't know what SEPA actually stands for but it often appears before my direct debit payments. On the day it first comes out it only states SEPA but afterwards more details appear. It could be community fees or your electric so check what you have due out.

I am frustrated by the transfer to Sabadell too, especially by the lack of clarity over charges and loosing our 'free' travel inurance. Hopefully in a few months things will be clearer. We ended up visiting the branch to get answers to our queries.

Good luck!
Julie we haven't seen a branch yet, where did you go? We did get a letter with all their charges on, which has pushed us into looking to move again once the transfer has been done! So far I have no debit card but hubby does, I have the online banking code card but he doesn't and nobody we telephone can help with that despite calling the number on their web site. None of which bodes well!

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All direct debits after 1 Feb are through SEPA, and through the IBAN account number, so it could be any direct debit you used to have.
You should have received info from your bank about the switch of direct debits to SEPA from 1 Feb.

Nothing at all from the bank! but looked it up and found the info. Trouble is now all my direct debits are listed as SEPA with no info on what it's for ( as we had previously), think its LLoyds rubbish online banking. Hoping with the changeover that it might give more info soon so I can double check them all!

djulie
04-03-2014, 23:40
I went into the Lloyds International branch in Fanabe. We have seen Sabadell branches in the North snd I believe there is one in Los Cristianos. I just hope that we dont start getting bank charges. They are the worst thing about the Spanish banking system.

bonitatime
07-03-2014, 09:50
Sabadell have a branch in Playa Faņabe just before you get to the market if that helps