On July 9 INDEXO Bank has joined the unified SEPA payment system, which provides the ability to make and receive payments in euros. This is an important step for INDEXO Bank to commence full operations. It is planned that INDEXO Bank will start operations this summer and will offer instant euro payments to customers from day one.
Currently, several members of the bank’s development team are already INDEXO Bank customers and are conducting real payment tests. Joining the SEPA payment system means that now, INDEXO Bank not only has the right to send euro payments to any bank within the system but also the obligation to accept or correctly reject euro payments to an account opened at INDEXO Bank.
“We are currently finalizing preparations for INDEXO Bank to start operations this summer. It is already possible to make and receive payments in the bank, the bank’s systems are ready, and a mobile application has been developed. We will soon join the card payment system as well. In the meantime, we are ensuring that all processes are working smoothly, and we will announce the first working day of the new bank very soon,” says Valdis Siksnis, one of INDEXO’s founders and the chairman of the new INDEXO Bank’s board.
SEPA, or Single Euro Payments Area, is a unified euro currency payment system that includes 36 countries: all 27 European Union countries, as well as Iceland, Norway, Liechtenstein, Switzerland, Monaco, San Marino, Andorra, Vatican City, and the United Kingdom.
