SEPA, the Single Euro Payments Area, has been a reality since January 2008, when the SEPA Credit Transfer came into effect. This has now been implemented in 33 European countries. A second milestone was achieved in November 2009, with the launch of the SEPA Direct Debit scheme. 31 March 2012 saw the passing of the SEPA-Migration End-Date Regulation (Regulation (EU) No. 260/2012 of the European Parliament and of the Council of 14 March 2012 establishing technical and business requirements for credit transfers and direct debits in Euro and amending Regulation (EC) No 924/2009), which established 1 February 2014 as the end-date for SEPA migration. As a result, SEPA is no longer a voluntary initiative, but a regulatory requirement. Corporate migration to the new instruments is therefore necessary, and with the end-date fast approaching, we recommend that you focus on finalizing your migration preparations immediately. In this version of the Ultimate Guide to SEPA Migration you will find some updates that incorporate additional topics and country information (e.g. Estonia, Finland, Ireland, Luxembourg, The Netherlands and Slovakia). As well as the country essentials you will find detailed information about the usage of Member State Options of Regulation (EU) No. 260/2012, D-1 Core SEPA Direct Debit and guidance on handling of Multilateral Interchange Fee (MIF). Deutsche Bank is pleased to assist you in migrating to the new payment schemes. As part of our commitment to help you achieve a seamless transition, we have developed this guide, which covers the main issues for your consideration. We wish you every success and a smooth transition!