On 8 March 2019 the European Payments Council (EPC) issued its decision on Brexit and UK payment services providers (PSPs) participation in Single Euro Payments Area (SEPA) schemes.

The EPC Board, at its 7 March 2019 meeting, has taken the decision to approve the application from UK Finance for the continued participation of UK PSPs in the SEPA schemes after 29 March 2019 in the event of a no-deal Brexit. This decision shall be revisited regularly to ensure the continued compliance of the UK under the EPC’s SEPA scheme participation criteria in line with the established practice.