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Dutch consumers appear ready for IBAN

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IBAN Acceptgiro forms are being completed correctly

Example of a Dutch payment slip: a pre-printed paper payment form with fields for amount, IBAN, name, address, invoice number and signature, used for manual money transfer.

Since the beginning of this year, organisations issuing Acceptgiro forms have sent only IBAN Acceptgiros. Almost 98% of all Acceptgiro forms processed last week were IBAN Acceptgiros, and 92.5% of these were completed correctly with an IBAN. This confirms that the migration of Acceptgiro to IBAN is almost complete. Consumers are aware of IBAN and know how to find their own IBAN.

Although consumers pay most Acceptgiros electronically through online banking, around one in four is still submitted on paper for processing. Dutch consumers are already using their IBAN on these forms.

The number of paper Acceptgiros, including both Acceptgiro and IBAN Acceptgiro forms, processed in January and February 2014 fell sharply to 5.9 million, compared with 7.5 million in the same period of 2013. This is because some businesses switched to alternative payment methods during the transition to IBAN, such as FiNBOX, iDEAL, credit transfers or European direct debits. Acceptgiro will cease to exist on 1 January 2019.

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