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SEPA Credit Transfer rulebook and implementation guidelines

SEPA Credit Transfer (SCT) is among the favourite payment methods of citizens and businesses in Europe, and a convenient alternative to cash and cheques.

SEPA Credit Transfer rulebook

Payment service providers providing services can find on this page information to help them implement the scheme.

SCT rulebook currently in effect

The rulebook in effect until 17 November 2019 is the 2017 rulebook version 1.3.

Read more about the 2017 SCT rulebook version 1.3

The Implementation Guidelines for the version 1.3 are based on ISO 20022. 

Read more about the SCT scheme Customer-to-Bank IGs 2017 version 1.0

Read more about the SCT scheme Interbank IGs 2017 version 1.1 (applicable as from 18 November 2018)

Do you want to use the ’s Intellectual Property Rights related to payment schemes’ Rulebooks and Implementation Guidelines for non-euro transactions? Click here for more information.

Main changes introduced in the 2017 SCT rulebook version 1.3

Annex III of the 2017 rulebook version 1.3 lists all changes compared to versions 1.0, 1.1 and 1.2. No changes impacting the business and operational rules or the related implementation guidelines were made in this version.

The first change is the updated definition of the rulebook term ‘Major Incidents’. This definition change constitutes a regulatory change. The updated definition of this term now refers to the Eurosystem major incident reporting framework for payment schemes and retail payment systems entering into force on 1 January 2019. The new definition also points to the document 190-18 ‘Details about major incident reporting for scheme participants’. 

This document outlines the detailed assessment criteria for each scheme participant to determine whether an operational or information security incident fits the criteria of a major incident and needs to be reported to the or not. The document 190-18 is not publicly available. The shares this document directly with all existing and future scheme participants.

Secondly, this rulebook version also includes the updated version 4.2 of the Scheme Management Internal Rules (SMIRs) which are an integral part of each scheme rulebook. The updated SMIRs include a new section on voting by written procedure by the Scheme Management Board (SMB) and several rewordings in the section on the National Adherence Support Organisation. 

The new SMIRs also contain a new section covering the dialogue between the and its Overseer, and a new section 4.5 describing the process for making changes to the Risk Management Annexes. These SMIRs no longer make any reference to the Certification Authority Supervisory Board (CASB) set up for the e-Mandate option under the Direct Debit scheme rulebooks. The SMB decided to disband the CASB as of 1 January 2019. 

2019 SCT rulebook

The 2019 rulebook version 1.0 enters into force on 17 November 2019 and is applicable until November 2021.

Read more about the 2019 SCT rulebook version 1.0

The Implementation Guidelines are based on ISO 20022.

Read more about the SCT scheme Customer-to-Bank IGs 2019 version 1.0

Read more about the SCT scheme Interbank IGs 2019 version 1.0

Main changes introduced in the 2019 SCT rulebook

The 2019 rulebook contains a clarification about which scheme participants must comply with the mandatory Customer-to-Bank (C2B) of the rulebook. The C2B also include usage rules on how a Beneficiary can make a ‘Repayment’ to transfer back funds to the Originator when the Beneficiary has not received the IBAN of the payment account of the Originator in the original transaction.

A transaction containing an IBAN but not the related BIC, can be transmitted by the Originator to the Originator Bank, even if one of the two scheme participants covered by that transaction is based in a non- country.

It further includes additional r-transaction reason codes related to clearing and settlement-specific issues. Several changes have been made to the procedures for Recall and for Request for Recall by the Originator.

The 2019 rulebook contains a new annex V describing the Extended Remittance Information option to facilitate the transmission of multiple occurrences of 280 characters of structured remittance information per single transaction.

Annex III of the 2019 rulebook contains a table listing all changes made compared to the 2017 rulebook v1.3.