For SCT/SCT Inst scheme participant EMIs and PIs, the same principles of which under Q&A III.1 apply. SCT/SCT Inst scheme participant PIs and EMIs located in the Eurozone are required to offer a VOP service as of 9 October 2025. Those located outside the Eurozone are required to offer a VOP service as of 9 July 2027.
Accordingly, for opt-out purposes, the reason field "The scheme participant is located in an EU Member State outside the Euro Area and is not yet impacted by the verification of payee obligations stemming from the amended SEPA regulation and entering into force on 9 October 2025" should be used.