Which Bank Supports SEPA B2B for French VAT Payments
We recently registered for French VAT and now need to pay our first VAT Payment but our current Bank does not support EUR SEPA B2B Direct Debit. They only support SEPA Core due to which Tax Agent (Avalara) is saying this DD cannot be setup.
I queried a few online Banks like Revolut but they also don’t support SEPA B2B. Please someone advise which business Bank account supports SEPA B2B DD on EUR currency? Or is there an alternative way without incurring any penalties? Thanks in advance!
-Jutt
6 replies
Seller_rFJhzQS2UGB7q
We use WorldFirst, Payoneer is another company you can use
Seller_z6B2L9xab6HlP
My understanding is that France is currently not issuing fines if a SEPA payment method is used - It doesn’t yet need to be a SEPA B2B DD despite guidance saying it does. This is because accounts that can support SEPA B2B DD often have high barriers to acceptance (e.g. turnover over €2m) or the entity needs to be based in certain countries (e.g. France, Germany).
Seller_yXPw5OHQsV1Vb
Thank you @BarryM. Does it mean we can pay via Bank Transfer without penalty or can use SEPA Core DD? Please advise.
Seller_f4qaOP2rNgn8I
Lloyds Bank offer this if:
- Your annual turnover is above £2 million
or
- You have 10 or more employees
