Pan-European Automated Clearing House
- Pan-European Automated Clearing House
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A Pan-European Automated Clearing House (PE-ACH) is an ACH that is able to settle SEPA compliant credit transfers and direct debits across the Eurozone.
At present there is only one PE-ACH in operation - STEP2 - which was established by the Euro Banking Association in April 2003. It is thought[by whom?] that some domestic ACHs will position themselves as PE-ACHs as SEPA is implemented.
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