The Credit Transfer Scheme Rulebook version 4.0
The Credit Transfer Rulebook version 4.0 features the following additional mandatory elements: banks originating a Credit Transfer ( ) can request a recall in the event of duplicate or erroneous transactions. In addition, the Rulebook version 4.0 allows billers to automatically reconcile incoming payments with outstanding invoices based on the recently approved ISO Creditor Reference Standard (ISO 11649 developed by the International Organisation for Standardisation) resulting in more efficient cash management.
The Core Direct Debit Scheme Rulebook version 4.0
No operational changes have been incorporated into the Core Direct Debit Scheme Rulebook version 4.0 as related suggestions did not meet broad support among all market participants. The , however, recognises the potential need to accommodate a few additional customer requirements in some communities in to support a full transition to the new European payment instruments. Therefore the considers offering technical support to develop a limited number of Additional Optional Services (AOS) based on the input received during the formal consultation process. Standards offered under an AOS are not part of the Scheme Rulebooks but are complementary services offered by communities of banks. At the same time, however, the recognises that stability of the schemes is a key requirement of scheme participants (banks) which have made significant investments into processes and product s to realise .
The Business to Business Direct Debit Scheme Rulebook version 2.0
The Business to Business Direct Debit Scheme Rulebook version 2.0 includes the option to provide signatures of several persons with a mandate issued electronically whilst increasing the timeline for the payer's bank to verify the authenticity of an electronic mandate featuring multiple signatures.
Rulebook v. 4.0, Rulebook v. 4.0, Rulebook v. 2.0: the go-live date
Incidentally, the annual go-live date for updated versions of the Scheme Rulebooks had been set to be the third week of November, aligned with the SWIFT release date. However, there is now a need to change that position, given that the European Parliament and Council has regulated in the new Regulation on cross border payments in the Community (924/2009) that all payment service providers currently providing euro-denominated direct debit products and services must be reachable for direct debit transactions denominated in euro in accordance with Article 8 as of 1 November 2010 unless the exceptions under Article 8 (4) apply1.
A go-live date in the third week in November 2010 could compel adherent banks that joined the Core Direct Debit Scheme as of 1 November 2010 to make further changes just after having become reachable for . In order to avoid such a situation, the has now set the go-live date for the Credit Transfer Scheme Rulebook version 4.0, the Core Direct Debit Scheme Rulebook version 4.0 and the Business to Business Direct Debit Scheme Rulebook version 2.0 to 1 November 2010. This change affects the Rulebook go-live date for 2010 only.
Alignment of Rulebooks with latest ISO 20022 release
The Scheme Rulebooks to go live on 1 November 2010 are aligned with the 2009 release of the ISO 20022 standards.
2009 Rulebook releases featuring non-operational changes
The also published a set of updated Rulebooks to take effect on 2 November 2009 featuring changes pertaining to the Scheme Management Internal Rules and to chapter 5 of the Rulebooks. Chapter 5 of the Rulebooks defines the access criteria for organisations wishing to adhere to the schemes. The Rulebook versions to take effect on 2 November 2009 are:
- Credit Transfer Scheme Rulebook version 3.3
- Core Direct Debit Scheme Rulebook version 3.4
- Business to Business Direct Debit Scheme Rulebook version 1.3
Any changes incorporated into the Rulebook versions to take effect on 2 November 2009 are non-operational in nature.
Herman Segers is the Secretary General of the .
The Regulation on cross-border payments in the Community has been published in the Official Journal:
If you would like to comment on this article, please identify yourself with your first and last name. Your name will appear next to your comment. Email addresses will not be published. Please note that by accessing or contributing to the discussion you agree to abide by the EPC website conditions of use.