The SEPA Regulation to be applied in the Republic of Croatia as of 6th June 2016

Payment transactions in line with the SEPA Regulation will be introduced into the Republic of Croatia on Monday, 6th June 2016:

• The National Clearing System (NKS), the payment transactions clearance system in HRK, will establish a new format of payment transactions - ISO 20022 XML, in alignment with the Rules of the HRK SCT scheme.
• Euro-NCS, a system for clearance of payment transactions in euro, shall be applied. It will be applied in the same ISO 20022 XML format, pursuant to the Rules of the SCT SEPA Scheme for credit transfer transactions in euro.
• Clients – business entities which have submitted their orders via textual bulk payment database for electronic payment (HUB bulk payment) shall use the new format of payment orders: SEPA XML message pain.001.

In order to promote the SEPA payment services and to inform the public and payment service users about the changes brought by SEPA rules for payments in HRK and euro, the Croatian SEPA Forum (participants of which are the Ministry of Finance, the Croatian National Bank (HNB), the Croatian Banking Association (HUB), the Financial Agency (FINA), the Croatian Chamber of Trades and Crafts (HOK) and the Croatian Chamber of Economy (HGK/CCE); the Croatian SEPA Forum (HSF) is chaired by the HGK/CCE) has initiated a range of activities and the first step was launching the Project’s website in June 2014.

The Croatian SEPA Forum (HSF) has organized 55 workshops across Croatia, a SEPA flyer was printed in 100,000 copies, presentations at professional conferences were held and four SEPA newsletters were published and distributed through a network of county chambers and Croatian Chamber of Economy’s sectors to businessmen in order to inform them and help them to adapt to the SEPA changes.

SEPA - the Single Euro Payments Area is an area in which consumers, businesses and public authorities can pay and receive payments in Euro under the same basic conditions, rights and obligations regardless of their location. The SEPA initiative’s goal is to establish a single payment system.

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