A bank needs to fulfil the following criteria to be able to participate in the STEP1 Service:
- be authorised to conduct banking business
- participate in the STEP1 Service from its registered address or a branch located in the EU
- be a member of the Euro Banking Association. Neither a minimum credit rating nor a minimum of own funds are required to participate in the service.
In order to qualify as a sub-participant in STEP1, a bank has to be
- established in an EEA location
- a consolidated affiliate of a participant in the STEP1 Service, as evidenced by the accounts of the participant
Participants may also include branches as sub-addresses.
Joining windows for STEP1 are available on a monthly basis, respecting the following timeline:
Future change dates
Please note that there will be a freeze period from Saturday, 19 December 2022 until Sunday, 6 January 2023.
The following dates are agreed with SWIFT for changes to STEP1 provisioning. This includes the connection of new participants to the systems and the addition of sub-participants as sub-addresses.
- 8 August 2022
- 5 September 2022
- 3 October 2022
- 7 November 2022
- 5 December 2022
- 9 January 2023
- 6 February 2023
- 6 March 2023
- 3 April 2023
- 8 May 2023
- 5 June 2023
- 3 July 2023
- 7 August 2023
- 4 September 2023
- 9 October 2023
- 6 November 2023
- 4 December 2023