19 February 2019

EPC: Publication of clarification paper on SCT and SCT Inst rulebooks and adherence pack to the SCT ERI option

The European Payments Council has released the version 1.3 of the EPC clarification paper on the Single Euro Payments Area (SEPA) Credit Transfer (SCT) and SEPA Instant Credit Transfer (SCT Inst) rulebooks.

The paper addresses operational aspects related to the SCT and SCT Inst rulebooks and seeks to ensure consistent implementation of the two SCT rulebooks by payment service providers participating in the schemes.

The paper, which will be updated from time to time, as required, provides guidance and, where feasible, recommendations to scheme participants on how to handle situations that are not described in the rulebooks.

Moreover, as of the entry into force of the 2019 SEPA Credit Transfer (SCT) rulebook on 17 November 2019, the SCT scheme participants can offer the Extended Remittance Information (ERI) option described in a new annex V of this SCT rulebook to their customers.

This option gives Originators the possibility to transmit per single SCT transaction the following combination of remittance information to the Beneficiary:

• One occurrence of 140 characters of unstructured remittance information and
• Up to 999 occurrences of 280 characters of structured remittance information based on the ISO 20022 standard.

Clarification paper

SEPA_Credit Transfer scheme adherence pack - Extended Remittance Information option

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