EPC News

EPC releases new SEPA Credit Transfer and SEPA Direct Debit Scheme Rulebooks 01-11-2010

On 1 November 2010 the EPC released updated and enhanced versions of the SEPA Credit Transfer (SCT) Scheme Rulebook and the SEPA Direct Debit (SDD) Scheme Rulebooks.

To ensure planning security for all market participants, publication of the new rulebook versions follows a predictable release management cycle. In accordance with best industry practice, payment service providers and their suppliers have sufficient time to address the rulebook updates ahead of 19 November 2011 - the date that these revised rulebooks will come into effect.

The SCT and SDD Schemes evolve based on an open change management process providing all stakeholders with the opportunity to participate; i.e. to introduce suggestions for changes to the SEPA Schemes. The limited number of requests for additional elements introduced into the new rulebook versions demonstrates the maturity of the SEPA Schemes and highlights that they are fit for purpose.