STEP1 Banks can directly exchange payments with all participants and sub-participants in both EURO1 and STEP1. 

STEP1 Participants and Sub-Participants can also list their client banks in the EURO1/STEP1 Directory, increasing the percentage of payments they send and receive on behalf of these client banks through the highly efficient and cost-effective intra-day payment channel provided by the EURO1/STEP1 platform. The Directory currently includes over 22,000 BICs, which are reachable either directly or through the participants and sub-participants of the system.

The EURO1/STEP1 Directory is available online and for download on the EBA CLEARING website and can also be accessed via the SWIFTRef website. The Directory can be consulted and modified by participants and sub-participants in EURO1/ STEP1. The access to and usage of the directory are free of charge for the participating banks.

The EURO1/STEP1 platform is operating in RMA (SWIFT’s Relationship Management Application) bypass mode, meaning that no bilateral key exchange is needed between the participants for the sending or receipt of payments.