SEPA Credit Transfer
SEPA Credit Transfer (SCT)
On this page, you find the SCT Rulebook versions 8.2 and 8.3 and associated documentation.
The SCT Rulebook version 8.2 is in effect until 24 December 2016. The SCT Rulebook version 8.3 takes effect on 24 December 2016 and will remain in effect until 19 November 2017.
The version 8.3 of the SCT Rulebook remains unchanged from a functional and technical point of view, i.e. changes introduced into this version have no operational impact whatsoever. The version 8.3 of the SCT Rulebook contains as main change an updated version of the SEPA Scheme Management Internal Rules (SMIRs), which describe the internal organisation, structure, rules, and processes that make up the scheme management of the SCT and SDD schemes.
The implementation guidelines relevant to the SCT Rulebook versions 8.2 and 8.3 are based on the 2009 version of ISO 20022.
The SCT Rulebook and associated documentation to take effect on 19 November 2017 are available on this EPC Website page: 2017 SCT Rulebook.
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 documentation.
EU Regulation defines mandatory deadlines for migration to SEPA
The migration to SEPA is over since 31 October 2016. The SEPA Regulation ('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', adopted in 2012) defines 1 February 2014 as the deadline in the euro area for compliance with the core provisions of this Regulation, and 31 October 2016 as the deadline in non-euro countries. Existing national euro credit transfer and direct debit schemes are now replaced by the SCT and SEPA Direct Debit (SDD) schemes. Similarly all euro-denominated credit transfers and direct debits initiated in SEPA countries and sent to accounts in other SEPA countries now rely on the SCT and SDD schemes. 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)'
EPC technical documents
- SEPA Credit Transfer Rulebook Version 8.2
- SEPA Credit Transfer Rulebook Version 8.3
- 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