Prompt money transfer through Equens' parcel settlement

Equens´parcel settlement is fully in line with the intentions of the European Commission to reduce the maximum processing term within Europe to one day.

Parcel settlement allows batches of payments (parcels) to be settled at extremely frequent intervals – at least once every half hour. Consequently, this facility enables determination of the amounts owed between banks, thereby making an important contribution to effective cash management for both banks and businesses. Credit risks are avoided and booking information can be supplied frequently and quickly through data communication, enabling banks to inform their clients promptly regarding their current balances.

Manfred Schuck, General Manager of Marketing & Sales at Equens: "SEPA will not only lead to competition and new future-proof payment solutions. It should also reduce the costs of the European banks as a result of economies of scale. An important part of our strategy to maintain our top position in the European market is to constantly listen to the needs of our clients to further increase the efficiency of the payment industry. Equens' parcel settlement is a perfect example of this approach that will benefit our clients – the European banks – and their customers."