OverviewKey benefitsHow does STEP1 work?AdmissionBenefits of sub-participationReachabilityParticipantsStatisticsService documentationContact Us STEP1 Participants An entity needs to fulfil the following criteria to be able to participate in STEP1: be authorised to conduct banking business participate in STEP1 from its registered address or a branch located in the EU be a SWIFT user neither a minimum credit rating nor a minimum of own funds are required to participate in STEP1. STEP1 Sub-Participants 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 STEP1, as evidenced by the accounts of the participant Participants may also include branches as sub-participants. Joining windows Joining windows for STEP1 are available on a monthly basis, respecting the following timeline: Joining process Change dates Monthly change dates are agreed for changes to STEP1 participation. This includes the connection of new participants and the addition of sub-participants. 8 January 2024 5 February 2024 4 March 2024 8 April 2024 6 May 2024 3 June 2024 8 July 2024 7 August 2024 9 September 2024 7 October 2024 4 November 2024 9 December 2024