SEPA Credit Transfer
SEPA Credit Transfer (SCT)
On this page, you find the SCT Rulebook version 8.2 and associated implementation guidelines which are currently in effect.
The SCT Rulebook version 8.2 will remain in effect until November 2017. The implementation guidelines relevant to the SCT Rulebook version 8.2 are based on the 2009 version of ISO 20022.
The EPC launched the SCT Scheme in January 2008. For a definitive source of information regarding the rules and obligations of the scheme, refer to the SCT Rulebook and the accompanying implementation guidelines approved by the EPC. The EPC publication 'Shortcut to SEPA Credit Transfer' (see below) summarises the main features of the SCT Scheme, including its key benefits in non-technical language. To learn more about the term 'Single Euro Payments Area (SEPA) payment scheme', refer to this EPC Website page: What is a Payment Scheme?
EU Regulation defines mandatory deadlines for migration to SEPA
In February 2012, the European Union co-legislators, i.e. the European Parliament and the Council of the EU representing EU governments, adopted 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). It defines 1 February 2014 as the deadline in the euro area for compliance with the core provisions of this Regulation. In non-euro countries, the deadline will be 31 October 2016. Effectively, this means that as of these dates, existing national euro credit transfer and direct debit schemes will be replaced by SCT and SEPA Direct Debit (SDD). For more information on the SEPA Regulation, refer to this page.
The SCT Scheme in a nutshell
The SCT Scheme enables payment service providers (PSPs) to offer a core and basic credit transfer service throughout SEPA for either single or bulk payments. The scheme's standards facilitate payment initiation, processing and reconciliation, based on straight-through-processing (STP). The scope is limited to payments made in euro, within the 34 SEPA Scheme countries. The PSPs executing the credit transfer must formally participate in the SCT Scheme.
Selection of articles from the EPC Newsletter and other sources
- EPC Publication: Shortcut to SEPA Credit Transfer (SCT)
- EPC Video: SEPA for Billers. This Film Highlights Aspects Relevant for Businesses and Public Entities Transitioning to SEPA
- EPC Newsletter: Case Studies Highlighting Successful SEPA Migration Projects of Bank Customers
- EPC Newsletter: Articles Published in the Section ‘SEPA Credit Transfer (SCT) & SEPA Direct Debit (SDD)'
- Summary Workshop on Minimum Requirements for Cross-Border ‘BIC from IBAN Derivation’ Solutions (September 2013)
EPC technical documents
- SEPA Credit Transfer Rulebook Version 8.2
- SEPA Credit Transfer Scheme Inter-Bank Implementation Guidelines Version 8.0
- SEPA Credit Transfer Scheme Customer-to-Bank Implementation Guidelines Version 8.0
- EPC Clarification Paper: SEPA Credit Transfer and SEPA Direct Debit
- Quick Response Code: Guidelines to Enable Data Capture for the Initiation of a SEPA Credit Transfer
- EPC Recommendation on Customer Reporting of SCT and SDD
- SEPA Requirements for an Extended Character Set (UNICODE Subset) - Best Practices