On the 14th November, the Central Bank issued a press release advising businesses to be prepared for the changes to electronic credit transfers and direct debit payments due to come into effect on the 1st February 2014. With less than 3 months to go to the Single European Payments Area (SEPA) deadline almost 30% of impacted companies have yet to complete their SEPA preparations, with many yet to schedule a change over date with their bank.SEPA is being introduced under EU Regulation 260/2012 establishing technical and business requirements for credit transfers.The Central Bank is urging all impacted businesses who have not yet engaged with their banks to do so as a matter of urgency.