The Single Euro Payments Area (SEPA) Payment Scheme Management Rules contain descriptions of the organisation, structure, rules, and processes that make up the scheme management of the SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) schemes.
Such processes cover administration and compliance, and change management, including structured dialogue with stakeholders.
The version 4.5 of the SEPA Payment Scheme Management Rules is in force since 25 April 2023 and will remain in effect until 28 November 2023. This version reflects a new composition formula for allocating the seats of scheme participant-related members of the Payment Scheme Management Board (PSMB) with more seats being reserved for the scheme participant-related PSMB members.
On 28 March 2023, the European Payments Council (EPC) published the first version of the 2023 One-Leg Out Instant Credit Transfer (OCT Inst) rulebook.
This new EPC payment scheme rulebook required the renaming of the SEPA Payment Scheme Management Rules into EPC Payment Scheme Management Rules. Version 1.0 of the 2023 OCT Inst rulebook includes version 5.0 of these Rules.
Important: version 5.0 of the Rules already applies to the OCT Inst rulebook as of 01 June 2023. The reason is that the adherence process for this payment scheme starts on that day, whereas the formal operational launch of the OCT Inst scheme only takes place on 28 November 2023.
Version 4.5 of the Rules continues to apply to the other four payment scheme rulebooks from 01 June 2023 until 28 November 2023.
As of 28 November 2023, the PSMB will take over the scheme management functions for the OCT Inst scheme. From that date, version 5.0 of the Rules will apply to all payment scheme rulebooks.