Version
v1.4

Clarification paper on SEPA Credit Transfer and SEPA Instant Credit Transfer rulebooks

In May 2019, the  published the version 1.4 of the dedicated clarification paper on the Single Euro Payments Area ( ) Credit Transfer ( ) and Instant Credit Transfer ( Inst) rulebooks. 

The paper addresses operational aspects related to the and Inst rulebooks and seeks to ensure consistent implementation of the two credit transfer rulebooks by payment service providers participating in the schemes. The paper, which will be updated from time to time, as required, provides guidance and, where feasible, recommendations to scheme participants on how to handle situations that are not described in the rulebooks.

The paper applies to the current applicable 2019  and Inst rulebooks and now contains important clarifications and schematic workflows about the inquiry process.

The section 3.2 provides the scheme participant with concrete clarifications about specific inquiry process phases and about the interest compensation and fees that can be claimed for inquiries. The section 3.3 contains schematic workflows about the process steps to be followed by the originator bank (the bank of the payer) and the beneficiary bank (the bank of the payee) in the handling of inquiries for a claim of non-receipt, a claim for value date correction and the related responses.

These clarifications and the schematic workflows will be presented as an change request for the 2020 scheme rulebook change management cycle.

The also conducted an annual review of the other sections of the clarification paper and made only minor editorial changes.

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