March 2014. Euro Payment. Manual

March 2014 Euro Payment Manual

Contents 1 Introduction 2 Euro Payment: characteristic features 2.1 Introduction 2.2 Differences compared to the Dutch credit transfer 2.3 IBAN and BIC 2.4 Timelines and processing 2.5 Costs 3 Related products 3.1 Introduction 3.2 IBAN giro collection form 3.3 ideal 3.4 FiNBOX 3.5 Urgent payments 4 File formats 4.1 Introduction 4.2 SEPA file formats 4.3 Submitting batch orders 4.4 Key action points 5 Reporting information 5.1 Introduction 5.2 Gross booking principle 5.3 MT940 Structured reporting format 5.4 CAMT.053 reporting format 5.5 Choice of formats 5.6 Aggregated bookings 5.7 VerwInfo 5.8 International payment reference versus giro collection form reference 6 Annexes 6.1 Useful websites 6.2 Abbreviations and English terms 6.3 Overview of return or Reject codes with Euro Payment 6.4 Overview of submission formats and reporting formats 2

1 Introduction In the Netherlands, the Dutch credit transfer will be replaced by its European counterpart, the SEPA Credit Transfer. At Rabobank this is called the Euro Payment. This manual will provide you with all the information required for using the Euro Payment. You will read more about its characteristic features, how to submit the Euro Payments and how this is reported back to you in your account information. New European SEPA legislation on 1 February 2014 The new European SEPA legislation became effective on 1 February 2014. The European Parliament decided on 4 February of this year to introduce a transition period of six months for the migration to SEPA. This enables businesses that had not yet migrated in full by 1 February 2014 to complete their migration to SEPA. Banks can continue to process Dutch direct debits and credit transfers during this period. The transition period will end on 1 August 2014. Banks in the other SEPA countries are required to comply with this obligation by 31 October 2016 at the latest. SEPA s goal is to make payment transactions simpler and more efficient. All participating countries will migrate to uniform products for European credit transfers and direct debits. You can determine the timing of your migration yourself but must ensure that you are SEPA-ready by 1 August 2014, as you will be able to use only European payment products from then on. Rabobank would like to help you to ensure you do not find yourself unable to make or receive payments at any point along the way. is liaising closely with software suppliers. We assist them with information on required modifications and consult with them at regular intervals. We do however advise you to contact your software supplier yourself as well. He can tell you whether and when your software package is or will be SEPA-ready. Information updates Keep an eye on the internet. Please make sure that you regularly consult www.rabobank.nl/sepa for updates on the latest developments and the current status. Tip Have you done the Rabo SEPA Check yet? It will show you the potential consequences of IBAN and SEPA for your organisation. The ball is in your court! Go to www.rabobank.nl/sepacheck. Modifications in your accounting package SEPA s impact on your payments will in many cases be resolved by the supplier of your software package: for instance, the implementation of the correct import and export formats (XML) and the adaptation of identification rules for processing payments and receipts in your accounting records. Nonetheless, you yourself are responsible for the switch to SEPA. And that includes using the right software. Naturally, Rabobank 3

2 Euro Payment: characteristic features 32.1 Introduction The Euro Payment is the successor to the Dutch credit transfer. Salary payments, accounts payable transactions and standing orders will all be replaced by the Euro Payment following the introduction of SEPA. In future you can use the Euro Payment for convenient payments within the Netherlands and to other European SEPA countries. The Euro Payment is also the basis for other payment products such as the IBAN giro collection form, ideal and FiNBOX. Read more on this in section 3. 32.2 Differences compared to the Dutch credit transfer The Euro Payment does not differ greatly from the Dutch credit transfer. The principal difference is that the use of an IBAN is mandatory for Euro Payments. The method for submitting orders will also change for you. Read more on the new file formats in section 4. With the Euro Payment: you always pay in euros; you pay within the Netherlands and to other SEPA countries; you always use an IBAN (International Bank Account Number); the payee s account must be a EUR account. Note: bear in mind that you must use the World Payment for outbound payments to countries outside the SEPA area. You will also use the World Payment to transfer foreign currency amounts within the SEPA area, for instance, a payment in pound sterling to Great Britain. 32.3 IBAN and BIC Dutch account numbers will be converted to IBAN, the International Bank Account Number, as part of the introduction of SEPA. IBAN length varies from country to country. The IBAN in the Netherlands has 18 positions. You will find your IBAN on your account statements, in Rabo Internet Banking and on new bank cards. The IBAN always ends with your Dutch account number. BIC is short for Bank Identifier Code. This code is unique for each bank and is used to identify a bank. Rabobank s BIC is RABONL2U. Rabobank will automatically enter the BIC of foreign banks in the SEPA area for you; you do not have to enter the BIC for Euro Payments within the Netherlands either, unless required by your software package. Former Postbank account numbers You can use www.ibanbicservice.nl to convert your customers Dutch account numbers in your accounting package to IBAN. Conversion of the former Postbank s account numbers (which are shorter) involves risks, as these account numbers cannot be checked by means of the check digit calculation (known in Dutch as elfproef ). Therefore migration to IBAN will only take place on 1 August 2014 for these payments. Until that time, all scheduled payments to former Postbank account numbers will be processed as ordinary credit transfers. All other existing standing orders and scheduled payments will be migrated automatically. For more information on IBAN and BIC see www.rabobank.nl/sepa. 4

2 Euro Payment: characteristic features 32.4 Timelines and processing The time needed to process a (normal) Euro Payment depends on several factors, which include where the payee s account is held and the time when the order was submitted. The time when an amount is credited to the payee s account depends on the rules applied by the payee s bank (Clearing and Settlement Mechanism). This is outside the scope of Rabobank s control. The following processing times will apply in normal circumstances: Euro Payments between Rabo bank accounts Single Euro Payments between Rabo bank accounts are processed immediately during the whole day. The same value date will be applied for the debit entry in your account and the credit entry in the payee s account. Euro Payments to an account with another Dutch bank Euro Payments to a payee with an account number at another Dutch bank are processed during office hours. Euro Payments that are submitted and approved on working days before 1.00 p.m. will be processed on that same working day with the value date vandaag (today). Euro Payments that are submitted and approved after 1.00 p.m. will be processed with the value date tomorrow. The same applies for Euro Payments that are submitted after office hours, on national holidays or during the weekend. Euro Payments outside the Netherlands Euro Payments that are submitted before 1.00 p.m. can take a day longer to process. The processing date will depend on the routing between the originator s bank and the payee s bank. In most cases, these will also be processed on the same day. Transactions submitted after 1.00 p.m. will be processed on the following working day. Migration of standing orders and scheduled payments For users of Rabo Internet Banking (RIB) all scheduled payments and standing orders will be converted to Euro Payments. You do not have to take any action on this. Standing orders will also be automatically converted for users of Rabo Cash Management (RCM). Payments to Dutch account numbers that have already been scheduled in RCM with a requested execution date after 1 August 2014 will not be converted and cannot be executed. Timelines An overview of all timelines is available on www.rabobank.nl/ eurobetaling under Wat is het (Timeframes payments Rabobank Nederland). Do you have specific questions on the last possible submission times and the processing times between banks in the SEPA countries? Your Rabobank adviser can tell you more about this. 32.5 Costs The charges for a Euro Payment are the same as those for a domestic credit transfer. A (foreign) bank may however charge transaction fees to the recipient of the funds. These transaction fees can differ from bank to bank. Under the law, the charges for Euro Payments must never exceed those for a similar domestic credit transfer in the country concerned. The bank is allowed to withhold fees from the principal amount of the transaction provided this has been agreed with the beneficiary in advance. This law does not apply to payments to Switzerland and Monaco and the bank is therefore permitted to withhold fees that may exceed those for similar domestic credit transfers. 5

3 Related products 33.1 Introduction The Euro Payment is the basis for several other (European) payment products, the most important of which are discussed in this manual: the IBAN giro collection form, ideal, FiNBOX and the Urgent payment. 33.2 IBAN giro collection form As of 1 July 2013 the Dutch giro collection form is replaced by the IBAN giro collection form. Although an IBAN giro collection form will be introduced, the use of giro collection forms is continually decreasing. Therefore the market parties have decided to discontinue the giro collection form as a payment instrument by 2019 at the latest. That will give you enough time to explore alternative options for payments such as the (Business) Euro Direct Debit or sending invoices via FiNBOX. Do you want to start distributing giro collection forms? In that case, you will need to sign an IBAN giro collection form contract with your Rabobank. service bureaus and software suppliers. Your giro collection form contract will continue to apply without change. Payment modalities for IBAN giro collection form and reporting information Your customers can pay the IBAN giro collection form using the paper form or via the electronic bank channels. If the customer enters the giro collection form reference in the relevant designated field via internet banking, the transaction will be reported to you as giro collection form. The reference is in the field in your reporting format and this will simplify your reconciliation process. This also applies if customers fill in the paper IBAN giro collection form and submit it to their bank. If the customer enters an arbitrary reference in the description field, the transaction will be reported to you as a Euro Payment. You will see the reference in a free field on your bank statement. Most accounting packages can readily reconcile these transactions automatically. For more information on the IBAN giro collection form see www.rabobank.nl/acceptgiro. As of 1 January 2014 the IBAN giro collection form As of 1 Januari 2014 you can only send IBAN giro collection forms. Do you want to continue to send giro collection forms and switch to the IBAN giro collection form? Then start your preparations immediately. The new IBAN giro collection form requires modifications in your processes and systems. In addition, switching to the IBAN giro collection form means you will be dependent on other parties such as printers, 33.3 ideal Do you sell products or services via the internet? If so ideal Professional is the best way to enable your customers to make payments that are both safe and quick. ideal Professional uses customers familiar internet banking environment. When paying for their purchases, your customers select their bank and make the payment via internet banking. Large transaction volumes ideal Professional is especially suitable for businesses with large transaction volumes. ideal can also be suitable for your fully automated online order processing. You can seamlessly integrate this payment method into your website. The status of 6

3 Related products ideal transactions and reports is available via the Rabo ideal Dashboard. ideal and the Euro Payment The Euro Payment has now been integrated in the latest version of ideal. The transition to the Euro Payment has no impact on charges and/or the period within which payments are credited. All ideal products are adapted to SEPA by Rabobank. This applies to ideal Lite, ideal Cash Register, Rabo Internet Cash Register and Rabo OmniRegister. If you use ideal Professional, you are required to carry out modifications for SEPA yourself. It is important for you to install the new version 3.3.1 to prevent your customers from being unable to use ideal for payments on your website any longer. The changes for your customers will be very limited; from now on they will have to enter their IBAN when making payments. 33.4 FiNBOX FiNBOX is a convenient and cost-efficient tool for clients who issue more than 10,000 invoices a year. It allows you to automatically send invoices and other financial messages to customers who use internet banking at Rabobank, ABN AMRO or ING. Credit entries via FiNBOX will be processed as Euro Payments and be reported directly in your account statements. You will therefore no longer receive them via VerwInfo. Read more on this in section 5. 33.5 Urgent payments At present, Rabobank already offers a range of urgent variants for payments within and outside Europe, which you will be able to continue to use after 1 February 2014: Urgent payment within the Netherlands Are you submitting the urgent payment before 4.30 p.m. on a working day? Urgent payments in euros to a payee holding an account at a Dutch bank will be credited to the payee s account within 1.5 hours. The payee s bank must have accepted the product conditions for urgent payments: see www.betaalvereniging.nl. Urgent payment within Europe Are you submitting the urgent payment before 3.30 p.m. on a working day? Urgent payments in euros to European banks will be credited to the bank of the payee s account on the same day. Example of the new ideal For more information on ideal see www.rabobank.nl/ idealsupport. For updates on information on urgent payments see www.rabobank.nl. 7

4 File formats 34.1 Introduction The exchange of payments and account information between you and Rabobank takes place via specific file formats that are set to change due to the advent of SEPA. You can submit payment files for Euro Payments directly via Rabo Internet Banking Professional (RIB Pro) or via Rabo Cash Management. The number of your payment orders will govern which channel is best suited for you. The overview in the annexe (6.4) will show you which channel is recommended for which number of transactions. 34.2 SEPA file formats Rabobank is introducing new file formats for payment orders, direct debit orders and account information. These are expected to largely replace the present formats by 2014 at the latest. Domestic payments The ClieOp03 format is currently used for domestic payments. ClieOp03 will be replaced by the SEPA format PAIN001.001.03. This format is available at Rabobank and complies with the implementation standards of the Dutch Payments Association (see www.betaalvereniging.nl). International payments The BTL91 format is the most widely used format for international payments. As of 1 August 2014 the BLT91 format will only be available for payments outside Europe or in currencies other than the euro. You will be able to use the PAIN format to submit Euro Payments, in a single file together with domestic payment orders. 34.3 Submitting batch orders SEPA will entail a change in the way in which you submit file orders. Those changes relate to the booking of the batch, the status feedback for the batch and the reporting on the batch. In this manual we will describe a number of action points that are relevant for you. Detailed information on the processing of files is set out in the manual for the submission channel that you use. You can submit files for the Euro Payment in two ways: 1. With the option false ; 2. With the option true. Option false If you enter the option false in the batch, the transactions within a batch will be processed as individual orders in a single bulk order. The advantage this offers is that your group items will be booked 24 hours a day and seven days a week, even after 1.00 p.m. The drawback is that all your items are reported individually on your bank statements and that charges are incurred for each line. Option true If you enter the option true in the batch, the transactions within a batch will be processed as a single payment. We call this a batch booking. A batch booking will lead to a single debit entry and several credit entries. This is also known as the gross booking principle. We advise you to use this type of submission for salary payments. The advantage is that you only pay for an aggregate entry in your reporting information. Non-processed items are reported individually and accompanied by detailed information on your bank statement. This will show you clearly which items are still outstanding. This batch booking also involves a drawback, however. If you submit the batch after 1.00 p.m., the full batch, including the group orders, will be processed not on the same but on the next day. No option entered or salary payments If you do not tag the payment files with false or true, Rabobank will process your payment file as a batch (option true ). 8

4 File formats The same applies to salary files. If you use the option SALA in the category purpose, the payments will be processed as a batch. All orders in the batch are processed within the same timelines as orders to be credited to another bank. Exception for processing transactions of G accounts Transactions debited to G accounts can only be submitted individually or as bulk (with a batch booking false ). Note: with a batch booking true, these transactions will be refused on the execution date. Aggregation and itemisation of inbound payments Inbound return or reject entries, referred to as R messages, are booked in aggregated form in Rabo Cash Management. That also applies to payments received via ideal, FiNBOX and giro collection forms. You can opt to have the itemisations included in the export formats (the formats in which your reporting information is shown that you can use for your reconciliation). Inbound payments cannot be aggregated in Rabo Internet Banking. This option will be provided as of mid-2014. PAIN001.001.03 The PAIN format (Payment Initiation) PAIN001.001.03 for the Euro Payment offers more options than the (old) ClieOp format. For instance, you can use the field End to End identification to state a unique reference for the unique payment order in your import file. That ID is also reported in the export formats, enabling you to reconcile your items on that basis. For more technical specifications and a detailed description see www.rabobank.nl/seb or the manuals for the submission channels that you use. 34.4 Key action points New financial software Are you perhaps ordering new financial software to be built for you or will you purchase new financial software? In that case, be sure to check the file format that it uses. Preferably subscribe to free software updates or request a future-proof format. Tests We advise you to test new payment formats and their interfacing with Rabobank, to check their compliance with SEPA, the rules of the Dutch Payments Association (Betaalvereniging Nederland) and Rabobank requirements. New submission channel Will you have to switch to a new submission channel due to the migration to SEPA? Contact a Rabobank adviser for advice. Service bureaus and Internet Equens Services Have you subcontracted your payroll processes to a salary administration office, a payroll service provider or a payment office? In that case your service bureau must make sure that Euro Payments are used in future to pay your staff. Ask your service bureau whether it is SEPA-ready and which changes have been or are being implemented. If your service bureau submits large payment files via Equens Internet Services, it will be required to switch to Equens Corporate Payment Services, as Equens Internet Services is not suitable for submission of Euro Payments. You may also have to sign new authorisations, adapt the reconciliation process or open a new bank account for payment transactions via the service bureau. Return or Reject codes In some cases, your credit transfer may be refused. There can be several reasons for this. You can find the codes applied for them and their meanings in annexe 6.2. 9

5 Reporting information 35.1 Introduction You can create a link with your financial accounting system via Rabo Internet Banking (Professional) and/or via Rabo Cash Management. This will allow you, for instance, to copy the transaction information in your financial package (export). The current file formats with which that information is reported to you will change with the advent of SEPA. In some cases fields within the existing formats do not offer enough room to display the more extensive SEPA information. This means that you will have to implement changes to be able to receive that information. 35.2 Gross booking principle The gross booking principle is applied when submitting SEPA credit transfers. This means that your batch with items for the Euro Payment will be booked in full. Items that cannot be processed are reported as separate credit items on your account statement. This reporting method is more closely aligned with the options for automated processing within your financial software. All required information is stated in a single place and is reported via a single method. In addition your financial accounting records will reconcile and you will know for which items you must still take action. Each rejected item will be reflected in a line on your account statement and therefore be easy to identify. 35.3 MT940 Structured reporting format MT940 Structured is the standard reporting format for downloading account information. At the close of the day you will receive a SEPA-compliant report via this format. Intraday Would you prefer to see the current status of your account(s) at any time of the day? The reporting format MT942 Structured provides intraday reports. This option is not available via the submission channel Rabo Internet Banking (Professional). For more technical specifications and a detailed description of this reporting format see www.rabobank.nl/seb. 35.4 CAMT.053 reporting format The reporting format CAMT.053 is the successor to MT940 Structured and will be available for Rabo Internet Banking (Pro) in the course of 2014. This SEPA reporting format is now already available for Rabo Cash Management. CAMT is based on the XML standard and offers the widest range of options for SEPA. The PAIN file format is based on the same technology. If you use both CAMT and PAIN, you can easily perform reconciliations. Intraday reports Intraday reports are only available via MT942 Structured at present. The successor based on the XML standard is CAMT.052. For more technical specifications and a detailed description of this reporting format see www.rabobank.nl/seb. 35.5 Choice of formats We advise you to discuss with your software supplier which reporting format is suitable for your organisation. The switch to the CAMT reporting format is often a more laborious project than the switch to MT940 Structured. The functional differences between MT940 and CAMT are small. CAMT is however expected to become the standard on the basis of future developments. This will depend in part on the arrangements agreed between banks. 10

5 Reporting information 35.6 Aggregated bookings A number of bookings are shown in aggregated form in Rabo Cash Management. You can opt to download the itemisations via MT940 Structured or via CAMT.053. This is possible for: R messages Giro collection form credit entries ideal credit entries FiNBOX credit entries These bookings are not aggregated in Rabo Internet Banking. 35.7 VerwInfo The Dutch banks have agreed that SEPA payment orders will no longer be reported via VerwInfo. This is the reporting format through which you will receive booking information if you or your service bureau use direct submission via Equens. The use of VerwInfo will be discontinued and the information will be reported via MT940 Structured or via CAMT.053. 35.8 International payment reference versus giro collection form reference A standardised payment reference is used for giro collection forms in the Netherlands. This reference is reported in the Structured Remittance Information (SRI). In future, businesses will also have the option of using an international standard (ISO11649 Creditor Reference) as payment reference. This is a payment reference that businesses can use on their invoices. The standardised structure of this reference makes it possible to perform checks when entering payments, as is current practice for giro collection form payments. Many Dutch businesses are however still using the giro collection form reference. Accordingly, Rabobank will for the time being not support the use of the international payment reference. Businesses already using the international payment reference can enter it in the description field. No checks will be performed in that case, however. The payment reference is not shown in the fixed reference field (SRI) on your electronic reporting format, but in the free description fields. More information on the reporting formats is available on www.rabobank.nl/seb. 11

6 Annexes 3 Useful websites 3 Overview of Return or Reject codes with Euro Payment 3 Abbreviations and English terms 3 Overview of submission formats and reporting formats 36.1 Useful websites Information via Rabobank www.rabobank.nl/acceptgiro More information on the IBAN Giro Collection Form. www.rabobank.nl/bedrijven/klantenservice/uw_producten/betalen/ betalingsverkeer/hoelang_duurt_een_internationale_betaling With information on the timelines for international payments www.rabobank.nl/bedrijveneuroincasso More information on the Business Euro Direct Debit www.rabobank.nl/eurobetaling More information on the Euro Payment www.rabobank.nl/seb With specifications for the import and export formats for Rabo Internet Banking and Rabo Cash Management www.rabobank.nl/sepa The portal for the business market. www.rabobank.nl/sepacheck Online roadmap for switching to the Euro Direct Debit www.rabobank.nl/sepaproducten With all product information www.rabobank.nl/tarieven With information on charges for business payment transactions www.rabobank.nl/euroincasso More information on the Euro Direct Debit www.rabobank.nl/euroincassotool You will find an online checklist here, with clear steps to get started with Euro Direct Debit www.rabobank.nl/machtiging Information on mandates for the Euro Direct Debit www.rabobank.nl/incassometboekhoudpakket More information on direct debits with an accounting package www.rabobank.nl/incassozonderboekhoudpakket More information on direct debits without an accounting package www.rabobank.nl/rib Manual for Rabo Internet Banking Professional www.rabobank.nl/reasoncodes More information on error messages or reject codes with (Business) Euro Direct Debit General information on IBAN and SEPA www.betaalvereniging.nl Website of the Dutch Payments Association www.dnb.nl/betalingsverkeer/sepa/index.jsp Website of De Nederlandsche Bank (DNB) www.europeanpaymentscouncil.eu With information on European bank account numbers, mandate texts in all European languages, and other matters www.ibanbicservice.nl To find the Dutch IBAN and BIC www.overopiban.nl With information on IBAN 12

6 Annexes 36.2 Overview of Return or Reject codes with Euro Payment Requested by Debtor Debtor Debit bank Debtor Credit Bank/ CSM Credit Bank/ CSM Creditor/ Credit bank Classification Refusal / Weigering Cancellation/ annulering Reject / afkeuring Refund / klantstorno Return / terugboeking Reject / afkeuring Reversal / herstelboeking Recall / annuleringsverzoek RC * Reason code (RC) description RC Type Verantwoording op bankafschrift / Information bank statement CUST RequestedByCustomer ISO x Advice CUST: You have submitted a request for cancellation. You can resubmit the payment order. Weigering op verzoek van debiteur / Cancellation requested by debtor Rekeningnummer onjuist / AC01 IncorrectAccountNumber ISO x Incorrect account number Advice AC01: The beneficiary s IBAN is incorrect. Request the correct IBAN from your creditor. Resubmit the order using the correct IBAN. Rekeningnummer gesloten / AC04 ClosedAccountNumber ISO x Closed account number Advice AC04: The beneficiary s IBAN has been cancelled. Request the correct IBAN from your creditor. Resubmit the order using the correct IBAN. AC06 BlockedAccount ISO x Advice AC06: The beneficiary s IBAN has been blocked. Contact your creditor on the payment method. Rekeningnummer blokkade / Blocked account number Administratieve reden / AG01 TransactionForbidden ISO x Administrative reason Note AG01: The credit transfer has been rejected by the beneficiary bank, for instance because the IBAN is a savings account. Advice AG01: The transaction has been rejected because the IBAN cannot be used for a credit transfer. Contact your creditor on the payment method. Fout bestandsformaat / AG02 InvalidBankOperationCode ISO x Invalid file format Advice AG02: The transaction has been rejected because the transaction type is incorrect. Resubmit the transaction with the correct type. AM04 InsufficientFunds ISO x Note AM04: AM04 is not shown for privacy reasons by Rabobank if outbound and is converted to MS03, Rabobank does forward this code if inbound (with description administrative reason ). AM05 Duplication ISO x Dubbele batch / Duplicate batch Advice AM05: The batch you submitted has been identified as duplicate. Check your records. BE04 MissingCreditorAddress ISO FF01 InvalidFileFormat ISO x Advice FF01: The batch you submitted contains one or more errors. Contact your bank to request further details. RC01 BankIdentifierIncorrect ISO x RR01 MissingDebtorAccountOrIdentification ISO x Note RR01: The debtor has not been identified. RR03 MissingCreditorNameOrAddress ISO Note RR03: The name of the beneficiary is not stated. Advice RR03: The name of the beneficiary is not stated. Resubmit the file after entering the beneficiary s name. Adres begunstigde ontbreekt / Beneficiary s address is missing Fout bestandsformaat / Invalid file format Onbekende BIC / Incorrect Bank Identification Code Administratieve reden / Administrative reason Administratieve reden / Administrative reason 13

6 Annexes Requested by Debtor Debtor Debit bank Debtor Credit Bank/ CSM Credit Bank/ CSM Creditor/ Credit bank Classification Refusal / Weigering Cancellation/ annulering Reject / afkeuring Refund / klantstorno Return / terugboeking Reject / afkeuring Reversal / herstelboeking Recall / annuleringsverzoek RC * Reason code (RC) description RC Type Verantwoording op bankafschrift / Information bank statement RR04 RegulatoryReason ISO Note RR04: Transaction does not comply with regulatory requirements. FOCR FollowingCancellationRequest ISO x Administratieve reden / Administrative reason N.a.v. uw annulering / Following your cancellation request Oneens met incasso / MS02 NotSpecifiedReasonCustomerGenerated ISO x Disagreement with direct debit order Note MS02: This code is used for direct debits. The beneficiary bank has probably rejected your credit transfer and sent the wrong reason code. Advice MS02: Contact your beneficiary. MS03 NotSpecifiedReasonAgentGenerated ISO x Geweigerd door bank / Refused by the bank 36.3 Abbreviations and English terms BBAN Basic Bank Account Number (can only be used for domestic transactions) BIC Bank Identifier Code CAMT CAsh ManagemenT. File format for reporting in your account, in accordance with the XML standards of SEPA. EPC European Payments Council IBAN International Bank Account Number, the new standard for account numbers. The IBAN will replace the present account numbers in the Netherlands. ISO 20022 XML standard Standard for the file formats for exchanging payments as determined by ISO in 2009 MT940 File format for reporting in your account, in accordance with the SWIFT standards. Reject reason Reason why a direct debit order cannot be executed R-message A separate item reported in your account statement with the reason why a direct debit order cannot be executed SEPA Single Euro Payments Area ISO International Organization for Standardization 14

36.4 Overview of submission formats and reporting formats Tabel: Overview of submission formats and reporting formats Channel Volumes per file Available submission formats, besides manual presentation Available reporting formats Rabo Internet Banking PRO (RIB-PRO) 0 tot 3Mb (up to ±3.000 orders) PAIN.001.001.03 CAMT.053 1, MT940 S, MT 940 Ext, CSV (comma separated new) Rabo Cash Management/RFLP import batches (SCX) HTML upload: 3 to 40 Mb (3.000 to ±40.000 orders) Java upload and ATT: 40.000 to 100.000 orders. PAIN.001.001.03, UNIFI CAMT.052, CAMT.053, MT940 S, MT942 S Rabo Cash Management/RFLP import orders (SEPA-SCT) For both HTML and JAVA upload: 11.000 transactions. PAIN.001.001.03, UNIFI CAMT.052, CAMT.053, MT940 S, MT942 S 1 CAMT.053: Available medio 2014 15