SEPA in Belgium. Quick facts. International Bank Account Number (IBAN) IBAN structure. 13 SEPA Country Sheets - Belgium

Transcription

1 SEPA in Belgium Useful links Federation of the Belgian Financial Service Belgium SEPA official website Quick facts International Bank Account Number (IBAN) IBAN structure Belgian IBAN accounts have 16 characters Country code 2 letters Check digit 2 numbers Belgian national legacy account number 12 numbers Position 1 and 2 Position 3 and 4 Position 5 to 16 BE Source: RBS 13 SEPA Country Sheets - Belgium

2 IBAN conversion services A free conversion tool is provided by Febelfin, the Belgian banking community. This software can be downloaded from RBS offers you legacy Belgian account to IBAN conversion services and, if needed, automated enrichment of your payment files, as part of RBS SEPA Accelerator. To learn more about these services please contact your RBS representative. Local payment formats Legacy file formats that can be used until 1 February 2014 CIRI-FBF (180 & 360) CIRI-VME (128 & 1440) CIRI-DOM (180 & 360) For Belgian domestic non-urgent euro transactions For cross-border non-urgent euro transactions within the SEPA zone For domestic DOM70/80 collections By 1 February 2014 you are required to use ISO XML files as a replacement for the abovementioned files. Source: RBS RBS offers you value-added solutions to file translation and enrichment, so that your legacy files are translated for you, as part of RBS SEPA Accelerator. To learn more about these services please contact your RBS representative. Payment instruments: convergence to SEPA Legacy payment instruments Domestic single and batch ACH payment Your SEPA payment instrument SEPA Credit Transfer (SCT) International Standard Payment in SEPA zone and in euro Legacy collection instruments Domestic Direct Debits (DOM70/80) Your SEPA collection instrument SEPA Direct Debit (SDD) Core and Business to Business Source: RBS 14 SEPA Country Sheets - Belgium

3 Derogations Derogation Applicable date Applicable Significance for you Translation from BBAN to IBAN Start End No You are required to provide ordering and beneficiary account numbers in IBAN format for all non-urgent euro transactions within the SEPA zone after 1 February Niche products Start End ISO XML Start End IBAN and BIC Start End Source: European Central Bank No No No You are required to use only SEPA payment instruments for all non-urgent euro transactions within the SEPA zone after 1 February You are required to use only ISO XML messages for bulk non-urgent euro payment and collections files within the SEPA zone after 1 February You are no longer required to provide BIC codes for national SEPA payments and collections after 1 February 2014; IBAN will suffice for identification of your national counterparty. Comparison of legacy and SEPA Credit Transfers Scheme Legacy Legacy SEPA Credit Transfer File format CIRI-FBF CIRI-VME XML Pain Supportive of SCT No Yes (not recommended) Yes Ordering customer and beneficiary account details Legacy accounts (and no IBAN) IBAN accounts and BIC codes of beneficiary IBAN accounts and BIC codes Eligible beneficiary Consumer and business, but only in Belgium Consumer and business, in all countries Consumer and business in 32 SEPA countries Delivery timelines for debit on day D D D D 15 SEPA Country Sheets - Belgium

4 Scheme Legacy Legacy SEPA Credit Transfer RBS cut-off time on D* Access Direct / SWIFTNet FileAct 13h30 CET and 13h00 CET for files with more than 20k transactions Access Online / Local Electronic Banking / SWIFTNet FIN - 14h00 CET Access Direct / SWIFTNet FileAct 16h00 CET Access Online / Local Electronic Banking / SWIFTNet FIN - 16h30 CET 12h00 CET (14h00 CET from September 2013) Book date/value date (when received prior to cut-off time) Debit D Credit D Debit D Credit D Debit D Credit D Clearing and settlement National clearing National clearing EBA STEP2 *Cut-off times are applicable for those formats/channels that support legacy scheme in the country. Source: European Central Bank Additional optional services In order to facilitate automatic reconciliation of the SDD collections, the Belgian banking community supports continuation of the national standard reference structure OGM-VCS. RBS advises you to use the end to end identification field as your unique transaction reference. Any reference information that is of value to the counterparty should be included in the remittance information either unstructured with clear text or structured with a (unique) reference which can be in the OGM-VCS structure. The technical specification for how to format the XML message can be found at febelfin.be/sites/default/files/payments/aos-ogmvcs.pdf 16 SEPA Country Sheets - Belgium

5 SEPA Direct Debit (SDD) management Creditor Identifier for SDD Belgian SDD Creditor Identifiers for Creditors with an Enterprise Number (also used as VAT Number) have 17 characters Country Code 2 letters Check Digit 2 numbers Business Code (to be set yourself) 3 letters Belgian Trade Register number 10 numbers Position 1 and 2 Position 3 and 4 Position 5 to 7, default ZZZ Position 8 to 17 BE 12 ZZZ Source: European Payments Council Belgian SDD Creditor Identifiers for Creditors without an Enterprise Number have 20 characters Country code 2 letters Check digit 2 numbers Business code (set yourself) 3 letters Internal bank code 3 numbers D Code 1 Letter Increasing numbers issued by creditor bank Position 1 and 2 Position 3 and 4 Position 5 to 7, default ZZZ Position 8 to 10 Position 11 Position 12 to 20 BE 12 ZZZ 123 D Source: European Payments Council In Belgium, your SDD Creditor Identifier can be requested from RBS. Comparison of legacy and SDD Scheme Incasso SEPA Direct Debit Core SEPA Direct Debit Business to Business File format CIRI-DOM (70/80) XML Pain XML Pain Supportive of SDD No Yes Yes Debtor and creditor account details Legacy accounts IBAN accounts and BIC codes IBAN accounts and BIC codes Eligible debtors Consumer and business, but only in BE Consumer and business, in 32 SEPA countries Business only, in 32 SEPA countries 17 SEPA Country Sheets - Belgium

6 Scheme Incasso SEPA Direct Debit Core SEPA Direct Debit Business to Business Micro enterprises Not applicable Not applicable Seen as Business Mandates Debtor bank holds a paper version Creditor holds a paper version Creditor and debtor bank hold a paper version Mandate migration Yes (DOM-80), to Core Yes, from legacy Never, new mandate always required Mandate check Checked by debtor bank Not required Checked by debtor bank Frequency One-off and recurring One-off and recurring One-off and recurring Delivery timelines for debit on day D D-1 D-5 for first/one-off D-2 for recurrent/last D-1 RBS cut-off time on delivery day* 15h40 CET 09h00 CET (from June 2013) 09h00 CET (from June 2013) Pre-notification timelines 5 business days prior to day D 14 calendar days prior to day D, unless otherwise agreed with debtor 14 calendar days prior to day D, unless otherwise agreed with debtor Refund rights Consumers: 8 weeks after D Businesses: none (13 months for unauthorised debits) Consumers: 8 weeks after D Businesses: 8 weeks after D (13 months for unauthorised debits) Consumers: not allowed Businesses: none (13 months for unauthorised debits) Returns and reversal D+1 by debtor bank D+5 by debtor bank D+5 by debtor bank Clearing and settlement National clearing EBA STEP2 EBA STEP2 *Cut-off times are applicable for those formats/channels that support legacy scheme in the country. Source: RBS Reason code usage In case of unsuccessful collection, the R-transaction reason code ISO Rejection Code AM04 (Insufficient Funds) will not be used by Belgian debtor banks due to local law, meaning that this code will not be reported when collecting in Belgium. Code MS03 (Reason not Specified) may be reported instead. 18 SEPA Country Sheets - Belgium

7 Exception handling of legacy Direct Debit collections Legacy collection files, initiated prior to the migration end date and resulting in exception (R-transaction) after 1 February 2014, will be treated following legacy rules. All new collections with a due date after 1 February 2014 will be processed following SDD rules. Mandate management Legacy mandate migration You can ask RBS to provide you with an enriched file (enriched with BIC and IBAN) of all your active DOM80 mandates based on the DOM80 Creditor Identification Code that you have been using. DOM70/80 mandates can be migrated to SDD Core Scheme without requiring a new signature from your counterparties. However, the first SDD Collection needs to follow a specific process, described below, to ensure that the migration to SDD is definitive and that you can no longer use the DOM70/80 scheme. However, where there is more than one mandate to the same debtor, you can migrate them over time rather than all in one go. Migration to the SEPA Business to Business Scheme does require a new SEPA-compliant Mandate to be signed and logged by you as well as at the debtor bank. The first collection does not need a special procedure and will follow the generic collection process. R-Messages based on DOM70/80 legacy collection initiated after the migration deadline will be treated following the legacy rules. First SDD Core Collection Instruction When creating the first submission of a SDD Core collection based on a valid DOM70/80 mandate, you need to consider the specific process developed by the Belgian Banking Association (Febelfin). While formatting the Pain XML message, you must use the sequence type FIRST. You will also use the value true in the amendment indicator field. The allowed values in the following fields are: Further details can be found in the RBS TIG and at Febelfin default/files/vademecum/standard-xml-sdd-initiation-v20b-en.pdf 19 SEPA Country Sheets - Belgium

8 As soon as the FIRST collection has been successfully processed, the DOM70/80 mandate is irreversibly migrated. You will than use the sequence type RECURRENT for the next and following collections. Example of DOM80: <AmdmntIndtrue</AmdmntInd <AmdmntInfDtls <OrgnlMndtIdDOM </OrgnlMndtId - DOM80 followed by the original reference (DOM80: existing local Direct debits) <OrgnlCdtrSchmeId <Id <PrvtId <Othr <IdDOM </Id - DOM80 followed by the original reference <SchmeNm <PrtrySEPA</Prtry </SchmeNm </Othr </PrvtId </Id </OrgnlCdtrSchmeId </AmdmntInfDtls Additional mandate requirements wing table shows a comparison between the most common fields used in the legacy DOM80 and SEPA Direct Debit Mandates. Mandate DOM80 Fields SDD Fields Unique Mandate Reference Available Mandatory can be re-used Name of the debtor Mandatory Mandatory Address of the debtor Mandatory Postal code/city of the debtor Mandatory Debtor s country of residence Not applicable 20 SEPA Country Sheets - Belgium

9 Mandate DOM80 Fields SDD Fields Debtor s account number IBAN Not applicable Mandatory The BIC code of the debtor bank Not applicable Mandatory Creditor company name Mandatory Mandatory Creditor s identifier Mandatory Mandatory Creditor s address street and number Creditor s postal code and city Country of the creditor Not applicable Type of payment Recurrent only Mandatory one-off allowed Signature place Mandatory Date and signature(s) Mandatory Mandatory Additional attributes for information only Debtor identification code Not applicable Name of the Debtor Reference Party Identification code of the Debtor Reference Party Name of the Creditor Reference Party Identification code of the Creditor Reference Party Not applicable Not applicable Not applicable Not applicable Underlying contract identifier Contract description Mandatory Mandatory (for paper mandate, optional for MRI) Expiry date Mandatory Not applicable Source: RBS RBS offers you translation and enrichment of your legacy mandates to SEPA standards, as well as a full life cycle mandate management tool, as part of RBS SEPA Accelerator. To learn more about these services please contact your RBS representative. 21 SEPA Country Sheets - Belgium

10 rbs.com/mib