Despite being a historic event, it has gone unnoticed by the public; this has undoubtedly been a historic month for the country due to events of greater relevance than the one at hand. I am referring to the completion of the migration, in the interbank sphere, of domestic payment transactions—the traditional direct debits and credit transfers—to direct debits and credit transfers under SEPA rules. On June 10, the possibility of interbank exchange of direct debits subject to local regulations was discontinued, while for credit transfers the system had already closed in March.
In the banking sector, we are accustomed to this type of news, which fortunately does not usually transcend the sector. These changes go unnoticed due to the precision with which modifications to operational processes are carried out, coordinating and synchronizing the excellent work of our institutions and the infrastructures that support payment systems.
