Today the EPC published the 2021 EPC SEPA payment scheme rulebooks and the related Implementation guidelines (IGs). All 2021 EPC SEPA payment scheme rulebooks enter into force on 21 November 2021. To ensure planning security for all market participants, the publication of the new rulebook versions follows a predictable release management cycle.

The 2021 rulebooks contain the following changes:

− All four rulebooks: the replacement of the term ‘Bank’ with ‘PSP’ and an updated definition of the term ‘Customer’.

− Both SCT and SCT Inst schemes: 

• An updated definition of the term ‘Banking Business Day’;

• Changes to attribute descriptions to allow the link of an SCT or SCT Inst transaction with a preceding Request-To-Pay (RTP) message;

• Changes to the r-transaction procedures Recall and Request for Recall by the Originator (RFRO) i.e. extra procedure diagrams for RFRO, the extension of the period to submit a SCT (Inst) Recall in case of fraud and the alignment of the Recall and RFRO datasets within each SCT rulebook and between both SCT rulebooks;

• Formal rulebook references to the separate EPC guidance documents on SCT r-transaction reason codes and on SCT Inst r-transaction reason codes.

− SCT scheme:

• The possibility to make multiple requests for a status update for several RFROs in a single message;

• Changes to the inquiry procedure i.e. extra interbank rules, detailed inquiry procedure diagrams, the concrete payment of fees or interest compensation based on a dedicated ISO 20022 message, and the possibility to make multiple requests for a status update for several SCT inquiries in a single message;

− SCT Inst scheme: 

• An optional credit notification message based on the ISO 20022 standard for the Beneficiary for a successfully executed SCT Inst transaction in the bank-to-customer space;

• The possibility to submit SCT Inst instructions with a future execution date and time.

− The SCT and SDD Core schemes: the replacement of EONIA rate references by references to the euro short-term rate (€STR).

− Both SDD schemes: the removal of the current rulebook references to the e-Mandate operating model.

Annex IV of each 2021 rulebook contains a table summarising all changes made in each 2021 rulebook concerned compared to the 2019 rulebook.

In accordance with industry best practice, payment service providers and their suppliers have enough time to address the rulebooks’ updates ahead of November 2021, when these updates come into effect.

2021 SEPA Credit Transfer rulebook version 1.0
2021 SEPA Instant Credit Transfer rulebook version 1.0
2021 SEPA Direct Debit Core rulebook version 1.0
2021 SEPA Direct Debit Business-to-Business rulebook version 1.0