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In your view, what is the main advantage for non-consumer payment service users resulting from migration to harmonised SEPA payment schemes and technical standards?
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Important Notice to All SEPA Stakeholders: Effective Date of Next Versions of SEPA Credit Transfer and SEPA Direct Debit Rulebooks will be 1 February 2014! Viewed 3805 times

26-06-2012 By Etienne Goosse, EPC Secretary General

The SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) Schemes evolve over time to reflect changes in market needs and updates of technical standards. To ensure planning security for all market participants, publication of updated versions of the SCT and SDD Rulebooks follows an established change and release management cycle.

The EPC publishes updated versions of the rulebooks once annually in November of each year. These updated versions normally take effect in the third week of November of the following year. In accordance with industry best practice, payment service providers and their suppliers therefore have sufficient lead time to address rulebook updates prior to such changes taking effect.

The next version of the SCT and SDD Rulebooks (SCT Rulebook version 7.0, SDD Core Rulebook version 7.0 and SDD Business to Business (B2B) Rulebook version 5.0), will be published in November 2012. Based on the established release management cycle, the updated versions should take effect on 16 November 2013.

Single Euro Payments Area (SEPA) stakeholders however are currently working towards achieving compliance with the Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009 (the SEPA Regulation), which defines 1 February 2014 as the deadline in the euro area for compliance with the core provisions of this Regulation.

As a result, the EPC decided to postpone the effective date for the SCT Rulebook version 7.0, SDD Core Rulebook version 7.0 and SDD B2B Rulebook version 5.0, from 16 November 2013 to 1 February 2014. This allows market participants sufficient time to adapt their systems and operations to comply both with the SEPA Regulation and the updated version of the rulebooks.

The effective date of the rulebook versions published in November 2011 remains unchanged:

  • The SCT Rulebook version 6.0 will go live on 17 November 2012 (see link to ‘SCT 2012 Rulebook' below).
  • The SDD Core Rulebook version 6.0 and the SDD B2B Rulebook version 4.0 will go live on 17 November 2012 (see link to ‘SDD 2012 Rulebooks' below).

In May 2012, the EPC launched the annual public consultation on possible modifications to be introduced into the next version of the SCT and SDD Rulebooks. The EPC encourages all SEPA stakeholders to provide feedback by 13 August 2012. To participate in the public consultation, refer to the first link below. The annual EPC scheme change management cycle offers all market participants a unique opportunity to shape the future of euro payments - so do not miss it!

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Previous entries

21.05.131 February 2014 SEPA Migration Deadline – Council of the European Union (EU) Representing EU Member States Confirms: Provisions of Regulation (EU) 260/2012 “Have to Be Fully Respected by All Market Participants in Euro Area Member States”

08.05.13If You Have not Migrated to SEPA Yet – Act Now!

15.04.13What´s Your View? EPC Launches Public Consultation: Improving the Efficiency of Cash Handling in SEPA

04.04.13Late Movers: Learn to Love SEPA. There are Ten Months Left to Meet the 1 February 2014 Migration Deadline Mandated by European Union Law

21.03.13Vote on Future EPC Newsletter Topics! Which European Union Regulatory Action Impacting Euro Payments is Most Important to You?

07.03.13The Long Road to Harmonisation: Transitional Arrangements in European Union Member States Permissible Under Regulation 260/2012 (the SEPA Regulation)

19.02.13Get Ready for SEPA by 1 February 2014 and Get Inspired: Early Movers on the Demand Side Identify Best Practice – Part II (SEPA Direct Debit)

07.02.13Get Ready for SEPA by 1 February 2014 and Get Inspired: Early Movers on the Demand Side Identify Best Practice – Part I

23.01.13There is Only Plan A: Get Ready for SEPA in the Next Twelve Months in the Euro Area! Latest Data Shows Good Progress in the Corporate Sector Now Preparing for the 1.2.2014 Deadline

09.01.13The 2013 Euro Payments Outlook: Reflections on the Merit of European Union Regulatory Action Aimed at Promoting Integration, Competition and Innovation

18.12.12SEPA Credit Transfer and SEPA Direct Debit Rulebooks: Next Scheme Change Management Cycle Takes Place in 2014. Rulebooks to be Published in November 2014 Will Take Effect in November 2015

30.11.12SEPA Credit Transfer Rulebook Version 7.0, SEPA Direct Debit (SDD) Core Rulebook Version 7.0, SDD Business to Business Rulebook Version 5.0 and Associated Implementation Guidelines to Take Effect on 1 February 2014 Published

19.11.12Is Your Local Corner Shop Ready for SEPA? Belgian Best Practice Shows How to Engage Small and Medium-Sized Enterprises in the Migration Process

06.11.12New Rulebook Versions and Associated Implementation Guidelines Take Effect on 17 November 2012

25.10.12To Anyone Who Has Not Yet Started the Process of Getting Ready for SEPA by 1.2.2014: Act Now!

10.10.12What Drives Innovation in Payments? Conclusions of the Report ‘Innovations in Retail Payments´ published by the Committee on Payment and Settlement Systems´ Working Group

25.09.12What Drives Innovation in Payments? EPC Invites European Authorities to Take the Market Perspective into Consideration

10.09.12Let´s Talk About SEPA Direct Debit: Migration is Manageable. The Time to Act is Now

23.08.12Friendly Reminder: EU Law Mandates Migration to SEPA by February 2014 in Euro Area. Recommendation is to Rely on EU Legislator (Not on Speculations Regarding the Impact of the Euro Debt Crisis on SEPA) when Planning Migration. The Time to Act is Now.

07.08.12Payments Regulatory Expert Group (PREG) Publishes Guidance Document on SEPA Regulation. Read this Blog to Learn How to Share Questions on this European Legislative Act with the PREG!

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