Version
v1.8

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

In September 2021, the European Payments Council ( ) published the version 1.8 of the dedicated clarification paper on the Single Euro Payments Area ( ) Credit Transfer and Instant Credit Transfer ( ) rulebooks. 

The paper addresses operational aspects related to the and 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 in first instance to the 2019 and scheme rulebooks. Some sections of the paper also provide clarifications about the and scheme rulebooks entering into force in November 2021 and in November 2023. 

This version includes a new section 3.6 about the inquiry process. It provides the Beneficiary with clarifications about how the Beneficiary can indicate in its positive response message to an inquiry from the Originator , that the inquiry fees and the interest compensation are to be paid in one payment or in two separate payments, and in case of two payments, how to indicate they are to be paid in two different accounts.

Note: as of the and scheme rulebooks entering into force in November 2021, the term ‘Bank’ has been changed into (Payment Service Provider). This Clarification Paper now uses the ‘ ’ term even though the 2019 rulebooks still use the term ‘Bank’.
 

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