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.

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