European Payments Council Publishes Clarification Papers on SEPA Credit Transfer and SEPA Direct Debit Rulebooks

On May 27, 2019, the European Payments Council (EPC) published two documents: a clarification paper on SEPA Credit Transfer (SCT) and SEPA Instant Credit Transfer (SCT Inst) Rulebooks (Version 1.4); and a clarification paper on the SEPA Direct Debit Core (SDD) and SEPA Direct Debit Business-to-Business (B2B) Rulebooks (Version 1.2).

The papers provide operational aspects, guidance and recommendations arising from the implementation of both the SEPA credit transfers and the SEPA direct debit schemes, with the aim of ensuring consistent implementation of the rulebooks by payment service providers participating in the schemes.

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