Today the European Payments Council (EPC) published the version 1.5 of the clarification paper on Single Euro Payments Area (SEPA) Credit Transfer (SCT) and SEPA Instant Credit Transfer (SCT Inst) rulebooks. The paper applies to the current applicable 2019 SCT and SCT Inst rulebooks and provides guidance and, where feasible, recommendations to scheme participants on how to handle situations that are not described in the rulebooks.
The paper addresses operational aspects related to the SCT and SCT Inst rulebooks and seeks to ensure consistent implementation of the two EPC credit transfer rulebooks by payment service providers participating in the schemes.
The paper now contains an additional section about the SCT inquiry process. A new section 3.4 provides SCT scheme participants with a temporary workaround for Beneficiary Banks in case they want to send a positive response to a ‘Claim for Value Date Correction’ inquiry. Beneficiary Banks have pointed out they cannot claim their administrative fees for a value date correction prior to the correction itself of that value date.
A more permanent solution for this issue has been presented as an EPC change request for the 2020 EPC SEPA scheme rulebook change management cycle.
Your reactions
If you would like to comment on this article, please identify yourself with your first and last name. Your name will appear next to your comment. Email addresses will not be published. Please note that by accessing or contributing to the discussion you agree to abide by the EPC website conditions of use.