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 that some domestic ACHs will position themeselves as PE-ACHs as SEPA is implemented.