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SEPA Instant Credit Transfer rulebook and implementation guidelines

The SEPA Instant Credit Transfer (SCT Inst) scheme will make European payments faster and ever more convenient.

SEPA Instant Credit Transfer rulebook

This new scheme – officially launched in November 2017 – enables euro credit transfers with the funds made available on the account in less than ten seconds at any time and in an area that will progressively span over 34 European countries. All payment service providers () are invited to adhere to the scheme as soon as possible. The technical information for implementing the scheme is available on this page.

2017 SCT Inst rulebook version 1.1
Main changes introduced in the 2017 SCT Inst rulebook version 1.1

Annex IV of the 2017 Inst rulebook version 1.1 lists all changes compared to the 2017 version 1.0. 

The only changes concern regulatory changes stemming from the guide for the assessment of credit transfer schemes against the oversight standards of the Eurosystem. With these changes, each scheme participant is obliged to comply with 'generic supervisory requirements' applicable to them, on top of the existing obligation to comply with applicable rules and regulations. These rulebook changes do not affect the operational and business rules of the Inst rulebook. 

The term 'generic' relates to supervisory requirements that are applicable to all in . However, it does not cover tailored supervisory requirements that supervisory authorities may impose in addition to a particular . Such specifically defined supervisory requirements are not publicly disclosed.