Processing of retail payments: Services of Deutsche Bundesbank. Department Payments and Settlement System

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Processing of retail payments: Services of Deutsche Bundesbank. Department Payments and Settlement System"

Transcription

1 : Services of Deutsche Bundesbank Department Payments and System

2 Page 2 Processing of retail payments: Services offered by the Deutsche Bundesbank The Deutsche Bundesbank offers its bank and nonbank customers a high performance and cost-effective procedure for the processing of non-urgent domestic and cross-border euro payments. SEPA payments (SEPA credit transfers, SEPA core direct debits and SEPA business-to-business (B2B) direct debits) initiated by credit institutions are processed in the SEPA- Clearer (SCL) of the Retail Payment System (RPS). All domestic, non-sepa-compliant payments in DTA format (exchange of data media) initiated by credit institutions are processed directly in the RPS. The Bundesbank procedures for retail payments are used particularly by medium-sized and small-scale credit institutions which do not belong to a giro network for the purpose of processing credit transfers and for the collection of cheque and direct debit payments. Public authorities can also process SEPA payments via the Bundesbank, to which end they require access to the customer access mechanism (CAM SEPA). Public authority payments made in the DTA format can be submitted to the RPS directly. The Bundesbank is valued as a reliable and neutral partner by both the banking industry and the public sector for the processing of retail payments. Europe-wide accessibility via the SEPA-Clearer The Bundesbank s SEPA-Clearer provides a competitively neutral, high-performance, cost-effective payment procedure for the processing of SEPA payments. All credit institutions participating in the SEPA schemes provided by the EPC can take advantage of the procedure in question. One condition for participation is that the credit institutions have signed the relevant Adherence Agreements, and have thus accepted the terms and conditions of the SEPA rule-books for credit transfers and direct debits and that they have converted their systems to enable the processing of SEPA payments. Payments for credit institutions which are neither direct nor indirect participants in the SEPA-Clearer are forwarded by the Bundesbank via other clearing infrastructures. To this end, the Bundesbank is connected to the EBA Clearing STEP2 SCT and SDD services. In addition, the Bundesbank has direct bilateral links to other European clearing houses including Clear-ing Service International of the Österreichische Nationalbank (OeNB), the Spanish clearing house Iberpay, the Dutch clearing house Equens S.E. and the Bulgarian payment system operator Borica- Bankservice. This ensures that the Bundesbank is able to provide its participants with secure, Europe-wide access in order to process their SEPA payments.

3 Page 3 Europe-wide accessibility via the SEPA-Clearer Euro Area 333 mn. inhabitants 347 mn. Overnight deposits 177 mn. payments per day payment service providers EU mn. inhabitants 517 mn. Overnight deposits 258 mn. Payments per day payment service providers EPC* Plan for SEPA EU-27 + EEA countries + Switzerland + Monaco 518 mn. inhabitants * European Payment Council ECB Statistical Data Warehouse 23 August 2013 (statistics of 2012) Payment processing in the SEPA-Clearer Payment processing in the SEPA-Clearer is effected in line with the TARGET2 calendar. German national, regional and local public holidays which are not TARGET2 holidays are not taken into account. Submitted payments are executed in accordance with the cut-off times applying to the respective submission window. A single processing day consists of several cycles for processing SEPA credit transfers and SEPA direct debits. The values of successfully processed payments are settled on accounts in the TARGET2 payments module. If desired, a participant can also use a settlement agent. The SEPA credit transfers and SEPA direct debits are settled in accordance with the gross coverage principle on the basis of the submitted and delivered logical files. At the end of every banking business day (around 22.00), every participant receives a separate daily reconciliation report for each of the SEPA-Clearer services used (SEPA credit transfers, SEPA core direct debits, SEPA B2B direct debits). These reports give a summary of the files for credit transfers and direct debits which have been submitted. When delivering SEPA payments, account is taken of any routing order which may have been set up based on the Bank Identifier Code (BIC). In this context, separate routings may be set up for SEPA credit transfers and SEPA direct debits. Both inbound and outbound communication occurs exclusively by means of data telecommunication via SWIFTNet FileAct or EBICS (Electronic Banking Internet Communication Standard).

4 Page 4 Communication infrastructure for the processing of SEPA-transactions via SEPA-Clearer Credit institution SWIFTNet FileAct Credit institution EBICS Processing of SEPA credit transfers via the SEPA- Clearer 1 The values of processed SEPA credit transfers are delivered and settled directly after processing via the respective transmission window. The values of SEPA credit transfers submitted after on the previous day and by on the current banking business day, are delivered and settled from onwards using the date of the current banking business day. SEPA credit transfers submitted between and are delivered and settled as of around while those submitted between and are deliv-ered and settled as of around using the date of the current banking business day. SEPA credit transfers submitted between and of the current banking business day are delivered and settled as of around SEPA credit transfers submitted between and are delivered on that same day from around onwards. These transactions are settled with the value date of the next banking business day. Processing of SEPA credit transfers via the SEPA-Clearer ISD T+1 / T Window 1 ISD T Window 2 ISD T Fenster 3 ISD T Window 4 ISD T + 1 Window ISD = Interbank Date

5 Page 5 Processing of SEPA direct debits via the SEPA-Clearer Only R-Transactions after Only R-Transactions after Original-Transactions and R-Transactions before and after Processing of SEPA direct debits via the SEPA-Clearer 1 With regard to the processing of SEPA direct debits, it should be noted that, owing to the design of the SEPA direct debit scheme, the delivery and settlement of payment messages is usually handled at different times. SEPA direct debits submitted between and on the current banking business day are delivered on the current banking business day from around onwards. SEPA direct debits submitted after on the preceding business day and by on the current business day are delivered on the current banking business day from around onwards. The values of SEPA direct debits that have already been delivered are settled at around on the business day which precedes the banking business day specified in the data record in the payment message (Interbank Date, ISD). DTA clearing in the Retail Payment System (RPS) Until euro payments have been converted to the SEPA payment format, the Deutsche Bundesbank will continue to offer its customers a clearing and settlement service for payments in DTA format in the RPS. All Bundesbank account holders are eligible to participate in the file-oriented RPS procedure. The gross settlement procedure used means that the payee is not exposed to any credit risk. The settlement of payments is float-free. Each working day around 11.3 million transactions are processed (amounting to almost 9.2 billion), of which approximately 35 % are credit transfers and roughly 65 % are collection orders for direct debits and converted cheques. 1 The processing and cut-off times refer to the processing of SEPA payments from credit institutions. In the case of non-banks, the processing and cut-off times of the Customer Access Mechanism (CAM-SEPA) apply.

6 Page 6 Abwicklung von Zahlungen im EMZ 1st Processing Day 2nd Processing Day 19:00 20:00 21:00 05:00 06:00 07:00 08:00 09:00 10:00 13:00 Evening Processing Credit transfers + Collection + Morning Processing + Credit transfers + Collection items + Image based Check Collection Clearing Datas Payment processing in the RPS Both inbound and outbound communication by credit institutions with the RPS occurs exclusively by means of data telecommunication via SWIFTNet FileAct or EBICS (Electronic Banking Internet Communication Standard). Payments are processed in several processing windows. Payments submitted between and are processed during the evening processing window, subsequent to which their values are settled using the value date of the next business day and the file is delivered to the respective recipient. The values of all submitted and delivered payments processed in the RPS are settled on a file basis (gross settlement) using the accounts in the TARGET2 payments module (credit institutions) or accounts held with the Bundesbank (public authorities). The RPS also allows to specify a settlement agent. Cut-off Times The morning processing window is used to process any payments submitted between and of the following day. These payment transactions are settled and delivered from onwards. This gives participants the opportunity to immediately forward payments which arrive very late (for example, card payments) so as to enable sameday processing, settlement and delivery. Evening Processing Credit Transfers Collection items Morning Processing Credit Transfers Collection items Clearing data recors for payments from the Image based Check collection procedure 20:00 09:00 10:00

7 Page 7 Fees The Bundesbank charges a fee of per data record for payments that are submitted by credit institutions via data telecommunication to the SEPA-Clearer. This fee also applies if payments from the Bundesbank clearing procedure are forwarded via other clearing infrastructures. For payments that are submitted by credit institutions via data telecommunication to the RPS the Bundesbank currently also charges a fee of per data record. From 3rd February 2014 (20.00) on different fees for SCT and SDD apply: The prices stated in the current Bundesbank price schedule apply for those public authorities which are not exempted from charges. The participation and registration fees for indirect participation in the EBA Clearing STEP2 services via the direct participant Deutsche Bundesbank are passed on to the participants. for collection items the fee of per submitted data record remains constant for Credit transfers the fee will be increased to 0,80 per submitted data record Informations For more information, visit C Payment systems Tel: +49 (0)

Department Payments and Settlement Systems

Department Payments and Settlement Systems processing of retail payments: Services offered by the Deutsche Bundesbank Department Payments and Settlement Systems Processing of retail payments: Services offered by the Deutsche Bundesbank The Deutsche

More information

ISO 20022 in Central Bank Projects: The Deutsche Bundesbank s Interbank SEPA Clearing Services

ISO 20022 in Central Bank Projects: The Deutsche Bundesbank s Interbank SEPA Clearing Services ISO 20022 in Central Bank Projects: The Deutsche Bundesbank s Interbank SEPA Clearing Services Dr. Johannes Kaiser Conception of Retail Payment Services Payment Systems Policy Division Moscow, 1 Agenda

More information

This translation has been prepared with the greatest possible care; however, in case of doubt, the German text is the authoritative version.

This translation has been prepared with the greatest possible care; however, in case of doubt, the German text is the authoritative version. The Deutsche Bundesbank s procedural rules for the clearing and settlement of SEPA direct debits via the RPS SEPA-Clearer ( Procedural rules for SEPA direct debits ) Version 2.3 valid from 30 September

More information

TARGET2 a single Europe for individual payments. Department Payments and Settlement Systems

TARGET2 a single Europe for individual payments. Department Payments and Settlement Systems a single Europe for individual payments Department Payments and Settlement Systems Page 2 TARGET2 single technical platform for processing urgent euro payments TARGET2 is the real-time gross settlement

More information

The Deutsche Bundesbank s procedural rules for the clearing and settlement of SEPA credit transfers via the RPS SEPA-Clearer

The Deutsche Bundesbank s procedural rules for the clearing and settlement of SEPA credit transfers via the RPS SEPA-Clearer The eutsche Bundesbank s procedural rules for the clearing and settlement of SEPA credit transfers via the RPS SEPA-Clearer (Procedural rules for SEPA credit transfers) Version 2.6 valid from 23 November

More information

Spanish legacy branch code 4 numbers. Spanish legacy bank code 4 numbers

Spanish legacy branch code 4 numbers. Spanish legacy bank code 4 numbers SEPA in Spain Useful links Spanish official SEPA website (in Spanish language) http://www.sepaesp.es/ National Central Bank of Spain www.bde.es/bde/en Official Migration Guide for the Spanish market Download

More information

SEPA in Netherlands. Quick facts. International Bank Account Number (IBAN) IBAN structure. 66 SEPA Country Sheets - Netherlands

SEPA in Netherlands. Quick facts. International Bank Account Number (IBAN) IBAN structure. 66 SEPA Country Sheets - Netherlands SEPA in Netherlands Useful links Information campaign, by National Forum on SEPA migration www.overopiban.nl IBAN-Acceptgiro information www.acceptgiro.nl/ IBAN BIC conversion service www.ibanbicservice.nl

More information

This translation has been prepared with the greatest possible care; however, in case of doubt, the German text is the authoritative version.

This translation has been prepared with the greatest possible care; however, in case of doubt, the German text is the authoritative version. The Deutsche Bundesbank s technical specifications for the clearing and settlement of interbank SEPA credit transfers via the RPS ( SCT/BCT/SCL technical specifications ) Version 2.4 valid from 30 September

More information

Single Euro Payments Area SEPA Herman Ciappara Payments & Banking Department Central Bank of Malta

Single Euro Payments Area SEPA Herman Ciappara Payments & Banking Department Central Bank of Malta Single Euro Payments Area SEPA Herman Ciappara Payments & Banking Department Central Bank of Malta 1 1 Outline What is SEPA? Objectives Opportunities Important SEPA Dates Impact of SEPA Challenges 2 2

More information

Italian legacy ABI code 5 numbers. Control internal number (CIN) 1 letter

Italian legacy ABI code 5 numbers. Control internal number (CIN) 1 letter SEPA in Italy Useful links Associazione Bancaria Italiana SEPA (in Italian) http://sepa.abi.it Consorzio CBI SEPA (in English) http://www.cbi-org.eu Quick facts International Bank Account Number (IBAN)

More information

Clarification Paper SEPA Credit Transfer and SEPA Direct Debit

Clarification Paper SEPA Credit Transfer and SEPA Direct Debit EPC348-12 Version 2.1 Date issued: 06 November 2015 EPC Clarification Paper SEPA Credit Transfer and SEPA Direct Debit Abstract Document Reference This document addresses operational issues arising from

More information

SEPA in Slovakia. Quick facts. International Bank Account Number (IBAN) IBAN structure. 75 SEPA Country Sheets - Slovakia

SEPA in Slovakia. Quick facts. International Bank Account Number (IBAN) IBAN structure. 75 SEPA Country Sheets - Slovakia SEPA in Slovakia Useful links Slovak Central Bank www.nbs.sk/en/payment-systems/sepa SEPA Implementation Plan Download the PDF Slovak Banking Association www.sbaonline.sk/en Quick facts International Bank

More information

Single Euro Payments Area

Single Euro Payments Area Single Euro Payments Area Overview SEPA (Single Euro Payments Area) is a European payments initiative which aims to create one single, integrated, standardised payments market in Europe. It is an area

More information

SEPA! No "niche" of questions unanswered. Ready, set... Editorial

SEPA! No niche of questions unanswered. Ready, set... Editorial Ready, set... SEPA! Quarterly bulletin Number 9 2016 No "niche" of questions unanswered Editorial Two years have passed since the famous SEPA end date took place in February 2014. It's definitely one of

More information

IBM Financial Services Sector. IBM Payment Platform to face SEPA A flexible approach for a Smarter Bank

IBM Financial Services Sector. IBM Payment Platform to face SEPA A flexible approach for a Smarter Bank IBM Payment Platform to face SEPA A flexible approach for a Smarter Bank Market Forces Driving the Payments Industry to Transform Economic Pressures Increasing pressures on fees Margins being squeezed

More information

Intra-day payment Frequently asked questions

Intra-day payment Frequently asked questions Intra-day payment Frequently asked questions Contents 1. THE MEANING, advantages and scope of intra-day payment... 3 1.1. What does the launch of intra-day payment mean?... 3 1.2. What advantages does

More information

EBA CLEARING and Europe's banking infrastructure

EBA CLEARING and Europe's banking infrastructure EBA CLEARING and Europe's banking infrastructure How can banks build for success in payments? David Renault, Senior Manager STEP2 Erwin Kulk, Senior Manager STEP2 Overview Introduction to STEP2 STEP2 concepts

More information

Clarification Paper SEPA Credit Transfer and SEPA Direct Debit

Clarification Paper SEPA Credit Transfer and SEPA Direct Debit EPC348-12 Version 2.0 Date issued: 16 May 2013 EPC Clarification Paper SEPA Credit Transfer and SEPA Direct Debit Abstract This document addresses operational issues arising from implementation of the

More information

Terms and Conditions for SEPA Direct Debit Collection Service, Great Britain

Terms and Conditions for SEPA Direct Debit Collection Service, Great Britain Terms and Conditions for SEPA Direct Debit Collection Service, Great Britain These Special Terms and Conditions for SEPA Direct Debit collection service, Great Britain (the Special Terms and Conditions

More information

The Deutsche Bundesbank's procedural rules on communication via SWIFTNet FileAct (SWIFTNet FileAct procedural rules)

The Deutsche Bundesbank's procedural rules on communication via SWIFTNet FileAct (SWIFTNet FileAct procedural rules) The Deutsche Bundesbank's procedural rules on communication via SWIFTNet FileAct (SWIFTNet FileAct procedural rules) Version 1.7 valid from 21 November 2016 Notes on the English translation This translation

More information

Terms and Conditions for Direct Debit Collection.

Terms and Conditions for Direct Debit Collection. Terms and Conditions for Direct Debit Collection. Version as of 3 February 2015 Landesbank Baden-Württemberg - 1 - As at 10/13 Contents Terms and Conditions for Direct Debit Collection Collection Authorization

More information

Intraday credit transfer: Frequently Asked Questions and Definitions. Bank customers enjoy significant advantages

Intraday credit transfer: Frequently Asked Questions and Definitions. Bank customers enjoy significant advantages Intraday credit transfer: Frequently Asked Questions and Definitions Bank customers enjoy significant advantages Following 1 July 2012 the execution time of domestic HUF credit transfers will be one business

More information

This translation has been prepared with the greatest possible care; however, in case of doubt, the German text is the authoritative version.

This translation has been prepared with the greatest possible care; however, in case of doubt, the German text is the authoritative version. The Deutsche Bundesbank s technical specifications for the clearing and settlement of interbank SEPA credit transfers via the RPS SEPA- Clearer ( SCT/BCT/SCL technical specifications ) Version 2.6 valid

More information

FAQ wirecard technologies

FAQ wirecard technologies FAQ wirecard technologies contents 1. BASICS... 3 2. Questions about the transition from national schemes to SEPA... 8 3. Questions about the SEPA Core direct debit (B2C)... 12 3.1 General... 12 3.2 Pre-Notification...

More information

October 2012. SEPA Migration Guide for Ireland

October 2012. SEPA Migration Guide for Ireland October 2012 SEPA Migration Guide for Ireland 3 A Migration Guide to Ireland SEPA Migration Guide for Ireland Contents 1. Background to SEPA... 4 2. Overseeing SEPA... 7 3. Implementation timescale...

More information

Form Payments statistics (formerly form-9006)

Form Payments statistics (formerly form-9006) Form Payments statistics (formerly form-9006) General The report contains data on payments, specifically payments between consumers, businesses and the government. As of July 2014, this report implements

More information

Your Partner for European Payment Processing

Your Partner for European Payment Processing Your Partner for European Payment Processing A state-of-the-art platform built to support European diversity We believe that SEPA and domestic instruments will co-exist for some time, and both need to

More information

This translation has been prepared with the greatest possible care; however, in case of doubt, the German text is the authoritative version.

This translation has been prepared with the greatest possible care; however, in case of doubt, the German text is the authoritative version. The Deutsche Bundesbank s technical specifications for the clearing and settlement of interbank SEPA credit transfers via the RPS SEPA- Clearer ( SCT/BCT/SCL technical specifications ) Version 2.5 valid

More information

365 Phone, Online and Mobile Banking Terms and Conditions - Republic of Ireland Effective from 25 th November 2013

365 Phone, Online and Mobile Banking Terms and Conditions - Republic of Ireland Effective from 25 th November 2013 365 Phone, Online and Mobile Banking Terms and Conditions - Republic of Ireland Effective from 25 th November 2013 1.0 Definitions of Terms used in this Document 2.0 Accounts 3.0 Mandates 4.0 SEPA Transfers

More information

Instant retail payments for Europe: a Blueprint

Instant retail payments for Europe: a Blueprint Instant retail payments for Europe: a Blueprint February 2015 Instant retail payments for Europe: a Blueprint It is indispensable to debate instant payments now. In an ever more interconnected, always-on

More information

SEPA - Frequently Asked Questions

SEPA - Frequently Asked Questions SEPA - Frequently Asked Questions Contents SEPA Overview Questions... 2 What is SEPA?... 2 What is the aim of SEPA?... 3 Where did SEPA come from?... 3 What countries are included in SEPA?... 3 What currencies

More information

SEPA LOCAL PRACTICES AND IMPLEMENTATION GUIDELINES*

SEPA LOCAL PRACTICES AND IMPLEMENTATION GUIDELINES* BNP Paribas SEPA Newsletter Issue September 2013 SEPA LOCAL PRACTICES AND IMPLEMENTATION GUIDELINES* SEPA (Single Euro Payments Area) aims to harmonise formats and processes for euro payments across every

More information

A low cost access to pan-european single payment processing

A low cost access to pan-european single payment processing A low cost access to pan-european single payment processing Overview is a payment service for individual commercial payments, complementary to EURO1. It enables small and medium-sized banks to benefit

More information

SEPA DIRECT DEBIT THE EUROPEAN DIRECT DEBIT

SEPA DIRECT DEBIT THE EUROPEAN DIRECT DEBIT SEPA DIRECT DEBIT THE EUROPEAN DIRECT DEBIT CONTENTS INTRODUCTION 3 THE EUROPEAN DIRECT DEBIT SCHEME (SEPA DIRECT DEBIT) 4 THE EUROPEAN DIRECT DEBIT MANDATE 6 «CORE» & «B2B»: TWO DIFFERENT EUROPEAN 7 DIRECT

More information

Endorsed by: SEPA GUIDANCE

Endorsed by: SEPA GUIDANCE Endorsed by: SEPA GUIDANCE PRACTICAL GUIDANCE FOR THE IMPLEMENTATION OF REGULATION (EU) N O 260/2012 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 14 MARCH 2012 ESTABLISHING TECHNICAL AND BUSINESS REQUIREMENTS

More information

Terms and Conditions. 365 Phone and Digital Banking

Terms and Conditions. 365 Phone and Digital Banking Terms and Conditions 365 Phone and Digital Banking Effective from 23rd February 2015 1.0 Definitions of Terms used in this Document 3 2.0 Accounts 4 3.0 Policies 4 4.0 SEPA Transfers 4 5.0 Security and

More information

A guide to our Online Saver

A guide to our Online Saver A guide to our Online Saver Stay in control of your savings with easy access to your account online. To manage your savings on the go, simply download our Mobile Banking app and register for the service

More information

Microsoft Dynamics NAV. SEPA Credit Transfers and Direct Debits

Microsoft Dynamics NAV. SEPA Credit Transfers and Direct Debits Microsoft Dynamics NAV SEPA Credit Transfers and Direct Debits July 2012 EXECUTIVE SUMMARY... 1 SEPA PAYMENT INSTRUMENTS... 2 SEPA CREDIT TRANSFERS... 2 SEPA DIRECT DEBITS... 2 OVERVIEW OF SEPA DIRECT

More information

Guide to the Electronic Payment Alternatives to Cheque Acceptance

Guide to the Electronic Payment Alternatives to Cheque Acceptance Guide to the Electronic Payment Alternatives to Cheque Acceptance This document has been prepared by the Programme Office of the National Payments Plan for the purpose of informing interested parties about

More information

A Steria Report SEPA: will European businesses be ready for the transformation? Prepared in collaboration with. è www.steria.com

A Steria Report SEPA: will European businesses be ready for the transformation? Prepared in collaboration with. è www.steria.com A Steria Report SEPA: will European businesses be ready for the transformation? Prepared in collaboration with è www.steria.com 02 SEPA : will European businesses be ready for the transformation? è www.steria.com

More information

HSBC Your Guide to SEPA. Capitalising on the opportunities

HSBC Your Guide to SEPA. Capitalising on the opportunities HSBC Your Guide to SEPA Capitalising on the opportunities Executive Summary Developed by the European Payments Council, the Single Euro Payments Area or SEPA expands on the vision behind the Euro to establish

More information

Table of Contents. Information on the key changes 2, 3 & 4. Changes to the Single Payment, Template and Bulk Payment Screens 5 & 6

Table of Contents. Information on the key changes 2, 3 & 4. Changes to the Single Payment, Template and Bulk Payment Screens 5 & 6 Some Important improvements to Bankline for SEPA March 2015 From 15th March 2015 you will notice some important changes to Bankline. We have introduced these changes to meet requirements set out under

More information

TERMS AND CONDITIONS OF PAYMENT ORDER IN FOREIGN EXCHANGE TRANSACTIONS AT PKO BP SA BANK

TERMS AND CONDITIONS OF PAYMENT ORDER IN FOREIGN EXCHANGE TRANSACTIONS AT PKO BP SA BANK TERMS AND CONDITIONS OF PAYMENT ORDER IN FOREIGN EXCHANGE TRANSACTIONS AT PKO BP SA BANK TABLE OF CONTENTS SECTION 1 General provisions... 1 I. General rules for payment execution in foreign exchange transactions...

More information

General guidelines on payment statistics

General guidelines on payment statistics Payment statistics Deutsche Bundesbank Statistics Guidelines July 2015 General guidelines on payment statistics I Focus of the data collection and definitions This collection of payment statistics data

More information

Implementing SEPA in Au s t r ia

Implementing SEPA in Au s t r ia Implementing SEPA in Au s t r ia All you need to know for a successful SEPA migration Introduction This document gives you an overview of all the country specific information you need to implement successfully

More information

PAYMENT AND SETTLEMENT SYSTEMS IN SPAIN

PAYMENT AND SETTLEMENT SYSTEMS IN SPAIN Francisco Linares Payment Settlement Systems Unit Manager Jesús Pérez Bonilla Securities Settlement Systems Unit Manager Payments Week 2005 Madrid 20 June 2005 PAYMENT SYSTEMS DEPARTMENT AGENDA PAYMENT

More information

What does SEPA Direct Debit (SDD) mean for consumers? V 1.3

What does SEPA Direct Debit (SDD) mean for consumers? V 1.3 What does SEPA Direct Debit (SDD) mean for consumers? V 1.3 1 SEPA for consumers in a nutshell What is SEPA? SEPA = Single Euro Payments Area The Single Euro Payments Area (SEPA) is the area where citizens,

More information

SEPA. Frequently Asked Questions

SEPA. Frequently Asked Questions SEPA Frequently Asked Questions Page 1 of 13 Contents General SEPA Questions... 4 What is SEPA?... 4 What is the aim of SEPA?... 4 What are the benefits of SEPA?... 4 What countries are included in SEPA?...

More information

SEPA Country-Specific Information Austria

SEPA Country-Specific Information Austria SEPA Country-Specific Information Austria Cash Management & ebanking January 2014 Contents INTRODUCTION 3 END-DATE INFORMATION 3 IBAN CONVERSION SERVICE 3 SEPA PRODUCTS 4 SEPA CREDITOR IDENTIFIER (CI)

More information

sepa.bnpparibas.com Cash Management IMPLEMENTING SEPA Your challenges, our expertise

sepa.bnpparibas.com Cash Management IMPLEMENTING SEPA Your challenges, our expertise sepa.bnpparibas.com Cash Management IMPLEMENTING SEPA Your challenges, our expertise February 1, 2014: end of the SEPA transition period The SEPA Migration Regulation which came into force on April 2,

More information

SEPA CORE DIRECT DEBIT SCHEME RULEBOOK

SEPA CORE DIRECT DEBIT SCHEME RULEBOOK EPC016-06 Version 7.1 Approved Date issued: 27 January 2014 Date effective: 1 February 2014 SEPA CORE DIRECT DEBIT SCHEME RULEBOOK Conseil Européen des Paiements AISBL Cours Saint-Michel 30A B 1040 Brussels

More information

SEPA INSTANT CREDIT TRANSFER SCHEME RULEBOOK. Version 0.1 for public consultation. from 12 April to 10 July 2016

SEPA INSTANT CREDIT TRANSFER SCHEME RULEBOOK. Version 0.1 for public consultation. from 12 April to 10 July 2016 EPC 004-16 Version 0.1 for public consultation 12 April 2016 SEPA INSTANT CREDIT TRANSFER SCHEME RULEBOOK Version 0.1 for public consultation from 12 April to 10 July 2016 Conseil Européen des Paiements

More information

TARGET2-România. The RTGS system for interbank and customer payments in euro

TARGET2-România. The RTGS system for interbank and customer payments in euro TARGET2-România. The RTGS system for interbank and customer payments in euro SWIFT Business Forum Romania - 3 rd Edition 20 Years of SWIFT in Romania Bucharest, 11 Octomber 2012 NATIONAL BANK OF ROMANIA

More information

EPC Version June 2012 EPC

EPC Version June 2012 EPC EPC139-12 Version 1.1 22 June 2012 EPC SEPA DIRECT DEBIT CORE RULEBOOK CHANGE REQUEST CONSULTATION DOCUMENT The Single Euro Payments Area (SEPA) payment schemes, as set out in the SEPA Credit Transfer

More information

Legal aspects e-mandates

Legal aspects e-mandates Legal aspects e-mandates European Payments Platform 2014 Euroforum Annemieke van der Beek Annemieke.van.der.beek@kvdl.nl Joris van Horzen Joris.van.horzen@kvdl.nl 16 December 2014 SEPA mandates With a

More information

The SEPA Regulation Guidance

The SEPA Regulation Guidance The SEPA Regulation Guidance May 2013* *This guidance was previously developed and published by Payments Council, which was replaced by a new trade association Payments UK - at the end of June 2015. To

More information

Financial Innovations in the Euro area Payment and Securities Settlement Systems

Financial Innovations in the Euro area Payment and Securities Settlement Systems Financial Innovations in the Euro area Payment and Securities Settlement Systems Silvia Trifonova Faculty of Finance and Accounting University of National and World Economy - Sofia Abstract The main purpose

More information

Service Catalogue Non-SEPA Portfolio

Service Catalogue Non-SEPA Portfolio Final Classification: OPEN Version 2.0-1 December 2009 Content 1 Introduction... 3 2 Payment... 4 3 Incasso... 7 4 Acceptgiro... 12 5 Account Administration... 15 6 NAW Service... 16 7 Inquiries... 17

More information

INFORMATION AND CONDITIONS CONCERNING THE USE OF PAYMENT SERVICES ACCORDING TO THE PAYMENT SERVICES LAW OF 2009 (L.128(I)/2009)

INFORMATION AND CONDITIONS CONCERNING THE USE OF PAYMENT SERVICES ACCORDING TO THE PAYMENT SERVICES LAW OF 2009 (L.128(I)/2009) INFORMATION AND CONDITIONS CONCERNING THE USE OF PAYMENT SERVICES ACCORDING TO THE PAYMENT SERVICES LAW OF 2009 (L.128(I)/2009) The Payment Services law is applied to payment services provided in EURO

More information

SEPA DATA MODEL. Reason for Issue Approved by the EPC Plenary on 13 December 2006

SEPA DATA MODEL. Reason for Issue Approved by the EPC Plenary on 13 December 2006 Doc: EPC029-06 (Version 2.2) 13 December2006 OITS SG SEPA DATA MODEL Abstract Document Reference Issue This document sets out the SEPA Data Model which is referred to in the SEPA Credit Transfer and Direct

More information

PAY M E N T S Y S T E M S A N D M A R K E T I N F R A S T R U C T U R E OVERSIGHT REPORT

PAY M E N T S Y S T E M S A N D M A R K E T I N F R A S T R U C T U R E OVERSIGHT REPORT Pay m e n t s y s t e m s a n d m a r k e t i n f r a s t r u c t u r e Ov e r s i g h t R e po r t 2 0 0 7 j u ly 2 0 0 8 PAYMENT SYSTEMS AND MARKET INFRASTRUCTURE OVERSIGHT REPORT 2007 july 2 0 0 8 In

More information

EUROPEAN INTERBANK COMPENSATION GUIDELINES

EUROPEAN INTERBANK COMPENSATION GUIDELINES Revision 2009 EUROPEAN INTERBANK COMPENSATION GUIDELINES By European Banking Federation European Savings Banks Group European Association of Cooperative Banks 1 Joint publication by FEDERATION BANCAIRE

More information

SEPA Country Guide Italy. Introduction

SEPA Country Guide Italy. Introduction Introduction This document provides an overview of all the country specific information you need to successfully implement your migration to SEPA in Italy. Intending to provide a global picture of the

More information

THE SINGLE EURO PAYMENTS AREA (SEPA) AN INTEGRATED RETAIL PAYMENTS MARKET

THE SINGLE EURO PAYMENTS AREA (SEPA) AN INTEGRATED RETAIL PAYMENTS MARKET THE SINGLE EURO PAYMENTS AREA (SEPA) AN INTEGRATED RETAIL PAYMENTS MARKET Contents Foreword 3 Introduction 4 1. Creating SEPA 5 Overview of SEPA 5 Stakeholders 5 Why SEPA? 6 What has been achieved so far?

More information

Ohrid, 4 June 2012 NATIONAL BANK OF THE REPUBLIC OF MACEDONIA 5TH CONFERENCE ON PAYMENT AND SECURITIES SETTLEMENT SYSTEMS

Ohrid, 4 June 2012 NATIONAL BANK OF THE REPUBLIC OF MACEDONIA 5TH CONFERENCE ON PAYMENT AND SECURITIES SETTLEMENT SYSTEMS NATIONAL BANK OF THE REPUBLIC OF MACEDONIA 5TH CONFERENCE ON PAYMENT AND SECURITIES SETTLEMENT SYSTEMS Rui Pimentel BANCO DE PORTUGAL ORGANISATION AND ACTIVITIES IN PAYMENT SYSTEMS Payment Systems Department

More information

SEPA CORE DIRECT DEBIT SCHEME RULEBOOK

SEPA CORE DIRECT DEBIT SCHEME RULEBOOK EPC016-06 Version 9.2 Date issued: 03 March 2016 Date effective: 20 November 2016 SEPA CORE DIRECT DEBIT SCHEME RULEBOOK Conseil Européen des Paiements AISBL Cours Saint-Michel 30 B 1040 Brussels Tel:

More information

SEPA Direct Debit Implementation Guide. Version 1.7

SEPA Direct Debit Implementation Guide. Version 1.7 SEPA Direct Debit Implementation Guide Version 1.7 DANSKE BANK Table of contents 1 Change log... 3 2 Purpose of this document... 4 2.1 Target groups... 4 2.2 Help... 4 3 Introduction to SEPA Direct Debit...

More information

Implementing SEPA in Belgiu m

Implementing SEPA in Belgiu m SEPA Country Guide Belgium Implementing SEPA in Belgiu m All you need to know for a successful SEPA migration Introduction This document provides an overview of all the country specific information you

More information

THE BANK ACCOUNT AT THE HEART OF THE DIGITAL EXPERIENCE. MyBank for Service Providers

THE BANK ACCOUNT AT THE HEART OF THE DIGITAL EXPERIENCE. MyBank for Service Providers THE BANK ACCOUNT AT THE HEART OF THE DIGITAL EXPERIENCE MyBank for Service Providers 33 rd EPSM Meeting March 12 th, Munich v MyBank is owned by Preta S.A.S, a wholly owned subsidiary of EBA CLEARING Moritz

More information

in Fr a nce Introduction

in Fr a nce Introduction in Fr a nce Introduction This document provides an overview of all the country specific information you need to successfully implement your migration to SEPA in France. Intending to provide a global picture

More information

NATIONAL SEPA MIGRATION PLAN. 17 th February 2012

NATIONAL SEPA MIGRATION PLAN. 17 th February 2012 NATIONAL SEPA MIGRATION PLAN 17 th February 2012 TABLE OF CONTENTS CHAPTER 1 PREFACE 6 CHAPTER 2 FRAMEWORK FOR THE SEPA MIGRATION PLAN 7 2.1 Summary of the European SEPA Regulation 7 2.2 Points of departure

More information

smile current accounts account charges

smile current accounts account charges smile current accounts account charges 1 Your guide to the charges on smile current accounts The services, charges and rates detailed are effective from 5 July 2015. We can vary or amend these charges

More information

SEPA Credit Transfer Terms and Conditions

SEPA Credit Transfer Terms and Conditions SEPA Credit Transfer Terms and Conditions MARCH 2014 ABOUT US Silicon Valley Bank is registered at Companies House with company number FC029579 and with UK Establishment Registration number BR014561. Our

More information

Questions & Answers on Payment Statistics

Questions & Answers on Payment Statistics Questions & Answers on Payment Statistics The European Central Bank and the Bank of Finland have compiled statistics on payment transmission before, so what s new? In November 2013, the European Central

More information

Account Charges Leaflet

Account Charges Leaflet Account Charges Leaflet Your guide to charges you can expect on your Co-operative Bank Personal Current Accounts and any savings account linked to a Privilege Account, Privilege Premier Account or Current

More information

Format Description. SWIFT MT103 Single Customer Credit Transfer

Format Description. SWIFT MT103 Single Customer Credit Transfer De Format Description SWIFT MT103 Single Customer Credit Transfer COLOPHON Title Format Description SWIFT MT103 Version, date 1.3, June 2015 On behalf of Contact address Corporate Client Channels Rabobank

More information

Payments Statistics Return (PSA)

Payments Statistics Return (PSA) Payments Statistics Return (PSA) Notes on Compilation Incorporating FAQ Version 1.1 4 March 2015 Email: creditinst@centralbank.ie Website: http://www.centralbank.ie/ Version Date Comment V1.1 4 March 2015

More information

SEPA domiciliation FAQ

SEPA domiciliation FAQ SEPA domiciliation FAQ To see the FAQ about SEPA Direct Debit, click on the question to accede directly to our answers! 1. What is SEPA domiciliation (Sepa Direct Debit = SDD)? 2. What happens after 01/02/2014?

More information

for CONSUMERS Information on the SINGLE EURO PAYMENTS AREA

for CONSUMERS Information on the SINGLE EURO PAYMENTS AREA Version 5.0 - February 2014 for CONSUMERS Information on the SINGLE EURO PAYMENTS AREA All you need to know about SEPA EPC Shortcut Series* Shortcut to SEPA Shortcut to the SEPA Direct Debit Schemes Shortcut

More information

62 BANQUE CENTRALE DU LUXEMBOURG ANNUAL REPORT 2002 III

62 BANQUE CENTRALE DU LUXEMBOURG ANNUAL REPORT 2002 III 62 BANQUE CENTRALE DU LUXEMBOURG ANNUAL REPORT 2002 I II III Iv annual report 2002 IV PART iv PAYMENT AND SECURITIES SETTLEMENT SYSTEMS 63 Payment and securities settlement systems iv Payment and securities

More information

SEPA Creditors Guide. SEPA Direct Debit Core Scheme. Version 1.3 Final Page 1 of 38

SEPA Creditors Guide. SEPA Direct Debit Core Scheme. Version 1.3 Final Page 1 of 38 SEPA Creditors Guide SEPA Direct Debit Core Scheme Version 1.3 Final Page 1 of 38 Log of Revisions to the SDD Creditors Guide Version number Version1.1 Brief description of revision Comprehensive guide

More information

Customer related support on the T2S cash (and collateral) side looking at the Deutsche Bundesbank

Customer related support on the T2S cash (and collateral) side looking at the Deutsche Bundesbank INFORMATION EVENT FOR FUTURE DCA HOLDERS: EURO LIQUIDITY MANGEMENT IN VIEW OF T2S Frankfurt, 16 December 2013 TO 5 Operational Framework for the cash side Customer related support on the T2S cash (and

More information

ICEPAY & SEPA Direct Debit

ICEPAY & SEPA Direct Debit ICEPAY & SEPA Direct Debit Page 1 July 2014 S. Campbell v0.5 Table of Contents 1. Purpose of this document... 3 1.1 Support... 3 2. SEPA - Introduction... 3 2.1 SEPA - Goals... 3 2.2 SEPA Bank accounts,

More information

Q&A Payment Transaction Standardization in Europe and Switzerland

Q&A Payment Transaction Standardization in Europe and Switzerland Payment Transaction Standardization in Europe and Switzerland Version: October 2015 Payment Transaction Standardization in Europe and Switzerland General Introduction Starting February 1, 2014, Europe

More information

THE P AY M E N T S A N I N T E G R AT E D R E TA I L PAY M E N T M A R K E T

THE P AY M E N T S A N I N T E G R AT E D R E TA I L PAY M E N T M A R K E T THE SINGLE EURO P AY M E N T S A R E A ( S E PA ) A N I N T E G R AT E D R E TA I L PAY M E N T M A R K E T C O N T E N T S Foreword 5 Introduction 6 1. Creating the Single Euro Payments Area 7 > Overview

More information

Open Forum on Pan-European Instant Payments

Open Forum on Pan-European Instant Payments Open Forum on Pan-European Instant Payments Milan 7 th June 2016 Open Forum on Pan-European Instant Payments, 7 th June 2016 Welcome Wolfgang Ehrmann Chairman Euro Banking Association Open Forum on Pan-European

More information

Rules for international payments

Rules for international payments Payments to foreign countries If you have to pay an amount to a person or a firm abroad, it is of course important that payment is made on time, in the agreed currency, and with as low charges as possible.

More information

Information Concerning the Use of the SEPA Payment Schemes

Information Concerning the Use of the SEPA Payment Schemes DEUTSCHES PATENT- UND MARKENAMT 80297 München Telephone: +49 89 2195-0 Telephone enquiries: +49 89 2195-3402 Internet: http://www.dpma.de Beneficiary: Bundeskasse Halle/DPMA IBAN: DE84 7000 0000 0070 0010

More information

Account Charges Leaflet

Account Charges Leaflet Account Charges Leaflet Your guide to charges you can expect on your Current Account, Current Account Plus, Student Current Account, Privilege and Privilege Premier Current Account The services, charges

More information

Payments relating to external transactions Report pursuant to section 67 et seq of the Foreign Trade and Payments Regulation (AWV)

Payments relating to external transactions Report pursuant to section 67 et seq of the Foreign Trade and Payments Regulation (AWV) Annex Z 4 to AWV Payments relating to external transactions Report pursuant to section 67 et seq of the Foreign Trade and Payments Regulation (AWV) To Month/year: Deutsche Bundesbank Respondent: Servicezentrum

More information

SEPA CORE DIRECT DEBIT SCHEME RULEBOOK

SEPA CORE DIRECT DEBIT SCHEME RULEBOOK EPC016-06 Version 7.2 Approved Date issued: 4 March 2015 Date effective: 3 April 2015 SEPA CORE DIRECT DEBIT SCHEME RULEBOOK Conseil Européen des Paiements AISBL Cours Saint-Michel 30A B 1040 Brussels

More information

Technical Specifications

Technical Specifications SEPA Plus TXT Files Version 3 Technical Specifications This document describes the technical matters of the SEPA ROUTING TXT file, included in the SEPA Plus product. The file is used by financial institutions

More information

Price List Valid as of 01.07.2016 1. Accounts, Information Service Charging Terms Price Account Terms

Price List Valid as of 01.07.2016 1. Accounts, Information Service Charging Terms Price Account Terms Price List Valid as of 01.07.2016 1. Accounts, Information Service Charging Terms Price Account Terms CZK Account Opening Free of charge Account Maintenance, incl. Electronic Reporting per account, per

More information

How to get your Company ready for Information for BUSINESS

How to get your Company ready for Information for BUSINESS Version 2.0 - September 2009 How to get your Company ready for Information for BUSINESS All you need to know about SEPA EPC brochures* Making SEPA a Reality the definitive Guide to the Single Euro Payments

More information

Information guide. for TARGET2 users. Version 3.0

Information guide. for TARGET2 users. Version 3.0 Information guide for TARGET2 users Version 3.0 October 2009 1 Table of contents Information guide for TARGET2 users Table of contents 1. INTRODUCTION... 6 1.1. WHAT IS TARGET2?... 6 1.2. HOW TO USE THE

More information

SEPA BUSINESS TO BUSINESS DIRECT DEBIT SCHEME RULEBOOK

SEPA BUSINESS TO BUSINESS DIRECT DEBIT SCHEME RULEBOOK EPC222-07 Version 5.0 Approved Date issued: 30 November 2012 Date effective: 1 February 2014 SEPA BUSINESS TO BUSINESS DIRECT DEBIT SCHEME RULEBOOK Conseil Européen des Paiements AISBL Cours Saint-Michel

More information

SEPA Direct Debit a success story for the European payment market

SEPA Direct Debit a success story for the European payment market RESEARCH CENTER FOR FINANCIAL SERVICES SEPA Direct Debit a success story for the European payment market Research Analysis Berlin, August 2010 Steinbeis Research Center for Financial Services Rossmarkt

More information

SEPA CREDIT TRANSFER SCHEME RULEBOOK

SEPA CREDIT TRANSFER SCHEME RULEBOOK EPC125-05 Version 7.2 Approved Date issued: 4 March 2015 Date effective: 3 April 2015 SEPA CREDIT TRANSFER SCHEME RULEBOOK Conseil Européen des Paiements AISBL Cours Saint-Michel 30 B 1040 Brussels Tel:

More information

International Payments

International Payments International Payments Terms and conditions Apply from April 2014 These terms and conditions apply to International Payments processed by First Trust Bank from April 2014. These terms and conditions are

More information

ERP SEPA readiness checklist

ERP SEPA readiness checklist ERP SEPA readiness checklist version July 2013 www.ingsepa.com Financial Supply Chain SEPA This list contains 11 questions to determine the level of SEPA-readiness of an ERP 1. The first 3 questions deal

More information