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13 March 2018

The EPC launches the SEPA Credit Transfer and SEPA Direct Debit rulebook consultation


The change requests relate to the SEPA Credit Transfer (SCT), the SEPA Instant Credit Transfer (SCT Inst), the SEPA Direct Debit Core (SDD Core) and/or the SDD Business-to-Business (SDD B2B) schemes.

The public consultation documents detail the change requests from stakeholder representatives, banking communities and EPC Working and Support Groups. Furthermore, they include the recommendations of the EPC Scheme Evolution and Maintenance Working Group (SEMWG) concerning each change request.

All Payment Service Providers’ (PSPs) end users and technical players can participate in the public consultation during this three-month period. This public consultation is held to ensure that the SEPA schemes reflect the evolution of the needs of PSPs and their customers, as well as technological changes. 

An earlier call for change requests to amend the rulebooks – the technical and business rules governing the schemes and followed by their participants – ended at the end of December 2017. The EPC has registered 43 change requests from various banking and stakeholder communities, including the EPC itself. All have been included in the public consultation. 

A significant number of proposals were made to the SCT Inst and SCT rulebooks in particular. A number of SCT change requests relate to the extension in characters of structured and unstructured remittance information and the combination of different types of such information. The EPC itself is proposing a separate annex to the SCT rulebook supporting these extensions in remittance information as an option within the SCT scheme.

Another proposal is to include an automated repayment service in the SCT and SCT Inst schemes to enable the beneficiary to reimburse the originator either in full or in part. Only the beneficiary would be able to initiate this repayment transaction.

As for the SCT Inst scheme, one proposal would give participants a third rulebook option to agree upon a shorter hard time-out deadline. Another SCT Inst change request outlines options for handling hits due to anti-money laundering, embargo and counterterrorist financing measures.

All stakeholders are invited to have their say on these change requests from 13 March to 10 June 2018. 

Press release

SCT_Inst rulebook

SCT_rulebook

SDD_B2B rulebook

SDD_core rulebook



© EPC


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