SEPA Credit Transfer

The SEPA Credit Transfer (SCT) Scheme Rulebook allows for a maximum of 140 characters for structured and unstructured remittance information. The European Association of Corporate Treasurers (EACT) has developed a standard for formatting the contents of the unstructured remittance information, which is referenced in the SCT Rulebook versions 5.1 and 6.0.

The standard specifies the elements enabling the automated payments processing between business partners.  Further information on this standard can be found on the following website: http://www.eact.eu/main.php?page=SEPA