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The formats used in the SEPA SCT (SEPA Credit Transfer) are clearly shown here in diagrams. The basis of these processes is the Deutsche Bundesbank’s SEPA Clearer as of March 2021.
SEPA SCT: Credit Transfer
The debtor initiates a payment at his bank, e.g. as a pain.001. The transfer from the bank to the SEPA Clearer takes place as pacs.008 ISO 20022 message. There is no confirmation here for bulk payments.
SEPA SCT: R-Transaction
If the recipient’s bank rejects the payment, e.g. because the account has expired, this is done as pacs.004 ISO 20022 message.
SEPA SCT: Recall
The customer’s bank can try to recall a transfer with a camt.056 ISO20022 message (optional camt.028 ISO 20022 message). If this is successful, this is confirmed with a camt.029 ISO 20022 message or even rejected.
SCT Inquiry – Claim of Non-Receipt
Business cases relating to a pacs.008 ISO 20022 message that have already been transmitted can be dealt with a so-called inquiry. The customer’s bank can use a camt.027 ISO 20022 message to inquire about the whereabouts of the corresponding pacs.008 ISO 20022 message. The answer comes as camt.029.001.8.
SCT Inquiry – Claim for Value Date Correction
A camt.087 ISO 20022 message can be used to request the correction of the value date, and here too the answer is in camt.029 format.
Tests with the Deutsche Bundesbank
The direct SEPA participants at the Deutsche Bundesbank have to prove the successful handling of all formats in tests. It is therefore not permissible not to convert the less common formats. The correction of the value date in particular is rarely used or may not be included in the scope of services of a bank. Individual configurations can be made in a flexible payment system such as CBPay.