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SEPA – Guides for Business

The SDD Core Rulebook version 9.3 was published on 20 Nov 2016 and is in effect until 19 November 2017 – it contained the following key 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.

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

The SDD V 9.3 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.

 

2017 Rulebooks effective 19 November 2017

The SDD Core Rulebook and associated documentation to take effect on 19 November 2017 are available on this EPC Website page:  2017 SDD rulebooks.

Main changes in 2017 SDD rulebook

The 2017 SDD rulebooks include the obligation for scheme participants to accept at least but not exclusively Customer-to-Bank (C2B) SEPA payment message files based on the EPC’s C2B SEPA scheme Implementation Guidelines.

The SCT Rulebook and associated documentation to take effect on 19 November 2017 are available on this EPC Website page: 2017 SCT Rulebook.

Main changes in the 2017 SCT Rulebook

The 2017 SCT Rulebook includes the obligation for scheme participants to accept at least but not exclusively Customer-to-Bank (C2B) SEPA payment message files based on the EPC’s C2B SEPA scheme Implementation Guidelines.