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

In February 2019, the European Payments Council ( ) published the version 1.3 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 new version of the paper applies to the 2017 and Inst rulebooks. It also gives information about important changes in the Customer-to-Bank (C2B) and Interbank Implementation Guidelines ( ) for the 2019 and Inst rulebooks. The 2019 rulebooks and related are effective as of 17 November 2019.

The paper now includes a new section 2.8 comparing the r-transaction types Recall and Request for Recall by the Originator (RFRO) and highlighting their differences.

The existing section 2.9 on RFRO now contains the new subsection d) giving clarifications about the concrete attributes to be used for a positive and negative response to a RFRO. This clarification will lead to an change request for the 2020 scheme rulebook change management cycle.

The new section 2.10 explains what the Beneficiary Bank can agree upon with the Beneficiary in case this Beneficiary wants to transfer back funds to the Originator, but this Beneficiary has not received the IBAN of the Originator used in the initial transaction in his/her account statements or in other transaction reporting tools. The C2B and Inst  entering into force on 17 November 2019 provide the Beneficiary Bank with specific usage rules in such circumstances.


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