On the 24th of August 2023, a formal complaint has been filed against the credit institution BunQ B.V. (BIC: BUNQL2AXXX) (hereafter referred to as “BunQ”) for allegedly breaching the EPC scheme rulebooks.
Following investigation of the complaint, the European Payments Council Dispute Resolution Committee (DRC) has found BunQ to be in breach of its obligations as a scheme participant under the SEPA Credit Transfer (SCT) and the SEPA Instant Credit Transfer (SCT Inst) scheme rulebooks.
To the extent that BunQ was unable to process recall requests for a period of months, the DRC finds BunQ was in breach of its obligations under the relevant scheme rules.
The DRC notes that this breach has since been resolved.