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SEPA – Guides for Business

SEPA Rulebook changes – effective 20 November 2016

The SEPA Direct Debit (SDD) Core Rulebook (Version 9.2) will be effective from 20 November 2016 – and it contains two main changes:

  • The use of the sequence type ‘First’ (FRST) in a first of a recurrent series of SDD Core collections is no longer mandatory meaning that an actual first collection can be presented in the same way as a subsequent collection with the sequence type ‘Recurrent’ (RCUR)
  • All SDD Core collections presented for the first time, on a recurrent basis or as a one-off collection can be exchanged between banks up to D-1 Inter-Bank Business Day (D-1) instead of currently D-5 (for FRST and ‘One-off’ (OOFF) collections) and D-2 (for RCUR and ‘Last’ (LAST) collections).

Creditors do not have to make any changes – they can continue to submit their SDD files in the current format and timelines if they wish.

Implementation Guidelines change – effective 20 November 2016

The C2B implementation guidelines of the current applicable version of the SDD Core contains the code SMNDA (‘Same Mandate New Debtor Agent’). It is used by the Creditor to indicate that the Debtor has provided a payment account held at another Debtor Bank to be debited.

As the amended mandate may not indicate the BIC anymore, the Creditor will not always be able to identify whether or not the Debtor Bank has changed. Therefore, the code SMNDA will be defined as ‘Same Mandate with a New Debtor Account’ to indicate a different IBAN.

Creditors should contact their bank in relation to these changes and for details of the new submission times for SDD files.

The SDD V 9.2 Rulebook and associated implementation Guidelines are available on the European Payments Council website here.

The BPFI SEPA Guide for Business Customers Version 2.1 (effective November 2016) is available here.

Note: there will be no further update of the SEPA Credit Transfer Rulebook (SCT) in 2016, i.e. the SCT Rulebook version 8.2 will remain effective until November 2017

Further information and support documentation for customer’s operating the SDD and SCT is available here.