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

In July 2021, the European Payments Council ( ) published the version 1.7 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 clarification to the new rules for Recalls as of the implementation date of the and rulebooks entering into force in November 2021 (section 2.8), extra information about using the Remittance Information attribute for a transfer back of funds to the Originator (section 2.11), and a new section on the and r-transaction reason codes (section 2.13). 

As for the scheme rulebook, the section 3.2 on clarifications about the inquiry process has been reviewed and updated with upcoming changes as of the scheme rulebook entering into force in November 2021. There is a new section 3.5 covering the implementation of the dataset DS-11 ‘Inter- Fee and/or Compensation Payment Dataset’ entering into force in November 2021.

As regard to the scheme rulebook, a new section 4.1 on payment account reachability for transactions has been also included.

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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